According to the Economic Complexity Index, the Philippines' economy was ranked 32 globally in terms of GDP (current US dollars), 39 globally in terms of total exports, 34 globally in terms of total imports, 132 globally in terms of GDP per capita (current US dollars), and 39 globally in terms of economic complexity (ECI). The Philippines had a $4.05 billion negative trade balance in August 2021 as a consequence of $6.54 billion in exports and $10.6 billion in imports. The Philippines' exports climbed by $1.04 billion (19%) from $5.5 billion to $6.54 billion between August 2020 and August 2021, while its imports rose by $2.8 billion (35.9%) from $7.8 billion to $10.6 billion. In this article, we will discuss the top 10 Philippines Import Export Trade data in detail.
Know About Philippines Import Data
The Philippines, also known as the Republic of the Philippines, is a nation in Southeast Asia that is located in the western Pacific Ocean. The Philippines imported products worth USD 90.7 billion in 2020, a decrease from USD 112.9 billion in 2019. Reports on Philippine trade data in 2020, the Philippines ranked as the 34th-largest importer in the world. Given the 108.9 million people living in the Philippines, the value of all imports in 2020 corresponded to a demand for goods of about USD 1,050 per person per year in the Southeast Asian country.
Philippines Import data is a subset of customs data that includes all commercial activity in the nation. Company names and other information about market features are included in Philippine trade data. We gather Philippines import data from the most reputable sources, such as Custom & Port Agencies, Shipping & Logistics Companies, Government Bodies, and Trade Associations, for timely and accurate delivery of Philippines import information.
Philippines Import Trade Data includes information for trade activity with Asian countries and other international markets. It covers many different fields, such as Philippines Custom Data, Philippines Shipment Data Date, Importer Name, Foreign Supplier Name, Origin Country, HS Code, Product Description, Weight, Quantity, Value, Port, Transport Mode, and so on. View the given sample to see every column included in the Philippines import data.
Know About Philippines Export Data
The Philippines, also known as the Republic of the Philippines, is a nation in Southeast Asia that is located in the western Pacific Ocean. According to Philippines exports data, the country exported items worth USD 63.8 billion in 2020. This monetary figure showed a decrease of -9.2% from 2019 to 2020. The value of Philippines exports in 2019 was $70.3 billion. Philippines export statistics show that in 2020, the country ranked as the 43rd largest exporter in the world. With 108.9 million inhabitants, the value of exports from the Philippines in 2020 equated to almost USD 600 for each citizen of the Southeast Asian island nation.
Philippines Export Data reveals all of the facts underlying the nation's commercial activity. It is based on real cargo records that are obtained from customs and port authorities, shipping and logistics firms, business associations, and governmental entities. Philippines custom data provides accurate and comprehensive trade statistics from the Philippines that will help you advance your business. Date, Filipino Exporter Name, Foreign Buyer Name, Port of Loading, Destination Country, HS Code, Product Description, Weight, Value, Mode of Transport, and so forth are all included in the Philippines trade data.
Top 10 Imports from the Philippines
The following product categories will see the most expensive import purchases in 2021 in terms of dollars. The percentage of total imports into the Philippines that each product category accounts for is also displayed.
- Electrical machinery, and equipment: US$31.1 billion (25% of total imports)
- Mineral fuels including oil: $15.5 billion (12.4%)
- Machinery including computers: $11.8 billion (9.5%)
- Vehicles: $7 billion (5.6%)
- Iron, steel: $4.9 billion (3.9%)
- Plastics, plastic articles: $4.4 billion (3.5%)
- Pharmaceuticals: $3.7 billion (3%)
- Cereals: $3.4 billion (2.8%)
- Optical, technical, and medical apparatus: $2.6 billion (2.1%)
- Articles of iron or steel: $2.3 billion (1.9%)
These were the top 10 exports of the Philippines Import Data,
Top 10 Exports from the Philippines
These were the top 10 exports of the Philippines in 2020, according to data on exports from the country.
- Optical, photographic, (2.8%),
- Medical equipment (2.8%),
- Edible fruits and nuts (3.5%),
- Ore, slag, and ash (2.7%),
- Copper and articles (2.7%),
- Pearls (2.1%),
- Precious stones (2.1%),
- Vehicles (1.4%),
- Animal (1.4%)
- Vegetable fats & oils (1.4%),
These were the top 10 exports of the Philippines Export Data,
Growth of Imports and Exports in the Philippines Data
The Philippines's year-over-year export growth in August 2021 was primarily attributable to increases in exports to South Korea ($78.5M or 38.2%), Hong Kong ($165M or 25.5%), the United States ($108M or 12.9%), and Commodities not elsewhere specified ($269M or 45.1%), Integrated Circuits ($115M or 10%), and Gold ($55.5M or 43.8%). Obtaining information about the business is very important. So by acquiring the Philippines Import Export data and Philippines Shipment data an individual who wants to commence their business in the Philippines they required professional assistance, hence we provide the best Philippines trade data, Philippines Custom data, and many more. Our professionals are always there to assist to expand your business.