What goods does Philippines import and export?
Top 5 Commodity Imports
- Refined Petroleum – $9.2 billion.
- Crude Petroleum – $4.8 billion.
- Coal Briquettes – $1.9 billion.
- Wheat – $1.6 billion.
- Semi-Finished Iron – $1.2 billion.
What are the main exports of Philippines?
As of 2021, GDP by purchasing power parity was estimated to be at $1.47 trillion, the 18th in the world. The country’s primary exports include semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, and fruits.
What does Philippines import most?
Philippines major imports are: electronic products (25 percent), mineral fuels (21 percent) and transport equipment (10 percent). Philippines’s main import partners are: China (13 percent), the United States (11 percent), Japan (8 percent) and Taiwan (8 percent).
What is the biggest export country for the Philippines?
Philippines top 5 Export and Import partners
| Exporter | Trade (US$ Mil) | Partner share(%) |
|---|---|---|
| China | 26,756 | 22.82 |
| Japan | 11,218 | 9.57 |
| Korea, Rep. | 8,760 | 7.47 |
| United States | 8,556 | 7.30 |
What are the top 10 imports of the Philippines explain?
Philippines Top 10 Imports
- 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%)
Why Exporting is important to Philippine economy?
Exporting doesn’t only benefit you, your company, and your employees. It also benefits the local and foreign markets where you operate. Indeed, export and import activities help generate much-needed jobs and support economic growth in the localities where they transpire.
Does the Philippines rely on imports?
But a little research work will reveal that the country has been import-dependent on many food commodities. … Data from the Philippine Statistics Authority (PSA) for 2018 shows that we import most of our food requirements as local production is not sufficient to meet local demand.
Does Philippines import more than exports?
Philippines is currently our 31st largest goods trading partner with $18.9 billion in total (two way) goods trade during 2020. Goods exports totaled $7.7 billion; goods imports totaled $11.1 billion.
What products are made in Philippines?
Philippine export products primarily include electronics, garments and textiles, footwear and leather goods, furniture, jewelry, marine and aquamarine, and mineral products.
What food does Philippines export?
Top 10 U.S. Agricultural Exports to Philippines
| Top 10 U.S. Agricultural Exports to Philippines (values in million USD) | ||
|---|---|---|
| Commodity | 2015 | 2019 |
| Soybean Meal | 635 | 788 |
| Wheat | 516 | 700 |
| Dairy Products | 251 | 273 |
What country imports Philippines?
Top 10 Import Countries
| Country | Import USD$ |
|---|---|
| China | $26,756,381,043 |
| Japan | $11,217,877,058 |
| South Korea | $8,759,567,823 |
| United States | $8,555,656,890 |
What are the top 5 export commodities of the Philippines?
Philippines Top 10 Exports
- Electrical machinery, equipment: US$31.7 billion (49.7% of total exports)
- Machinery including computers: $9.5 billion (14.9%)
- Fruits, nuts: $2.3 billion (3.6%)
- Optical, technical, medical apparatus: $1.8 billion (2.8%)
- Ores, slag, ash: $1.7 billion (2.7%)
- Copper: $1.7 billion (2.7%)