What country imports Philippines?
Top 10 Import Countries
Who is the Philippines biggest trade partner?
As of June 2021, The United States, including Alaska and Hawaii contributed the highest export value to the Philippines. As of this date, exports to the U.S. amounted to 1.09 billion U.S. dollars. Coming in close second was China, with exports valued at 1.06 billion U.S. dollars.
Who are the major trading partners of the Philippines?
Completing the top five major export trading partners with their export values and percent shares to the total exports were:
- United States of America (USA), USD 1.03 billion (16.0%);
- Hong Kong, USD 875.16 million (13.6%);
- Japan, USD 847.88 million (13.2%); and.
- Singapore, USD 360.40 million (5.6%). (Figure 5 and Table 7)
How many countries does the Philippines trade with?
Regional Comprehensive Economic Partnership
The Philippines and 14 Asia Pacific countries – Australia, Brunei, Cambodia, China, Indonesia, Japan, South Korea, Laos, Myanmar, New Zealand, Singapore, Thailand, and Vietnam – signed a free trade agreement in 2020 which is expected to enter into force in 2022.
What is Philippines known for trading?
The Philippines is a leading exporter of electronic products including processors, chips and hard drives as well as of agricultural products, including coconut, pineapple and abaca. Major export partners are Japan, the United States and China.
What is Philippines main export?
As of 2021, GDP by purchasing power parity was estimated to be at $1.47 trillion, the 18th in the world. The country’s primary exports include semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, and fruits.
What do Philippines export to other countries?
Major exports are: electronic products (42 percent), other manufactures (10 percent) and woodcrafts and furniture (6 percent). Philippines is also the world’s largest producer of coconut, pineapple and abaca.
Is Philippines dependent on international trade?
Developing countries such as the Philippines relies heavily on trade and foreign direct investment (FDI), consequently leading to economic integration, which in its entireity, determines the country’s economic condition.
What does the Philippines export to the United States?
The top export categories (2-digit HS) in 2020 were: electrical machinery ($2.2 billion), cereals (wheat) ($850 million), oilseeds and oleaginous fruits (soybean flour and meal) ($830 million), machinery ($733 million), and dairy, eggs, honey ($387 million).
What country is the fourth largest trading partner of the Philippines?
The EU is the Philippines’ fourth largest trading partner, accounting for the 8.4% of the country’s total trade in 2020 (after China, the US and Japan).
What does Philippines import from other countries?
Philippines major imports are: electronic products (25 percent), mineral fuels (21 percent) and transport equipment (10 percent). Philippines’s main import partners are: China (13 percent), the United States (11 percent), Japan (8 percent) and Taiwan (8 percent).
What does Philippines import the most?
- Electrical machinery, equipment: US$27 billion (23.9% of total imports)
- Mineral fuels including oil: $13.6 billion (12%)
- Machinery including computers: $12.5 billion (11.1%)
- Vehicles: $8.5 billion (7.5%)
- Iron, steel: $3.9 billion (3.5%)
- Plastics, plastic articles: $3.7 billion (3.3%)
- Cereals: $2.9 billion (2.6%)
Does the Philippines rely on imports?
The most common import partners for Philippines are China ($36.2B), Japan ($10.3B), South Korea ($8.9B), United States ($7.97B), and Singapore ($7.56B).