Blog Search

Philippines Import Export Trade Data

The Philippines is an archipelago located in Southeast Asia. The island country is located in the western Pacific Ocean. The Philippines's economy is predominately agricultural. Manufacturing started to grow in the country in the 1950s and 1970s. Presently the sector contributes one-fourth of GDP. Philippines was one of the five-member countries in ASEAN in 1967. The Philippines signed the General Agreement on Trade and Tariff with America in 1979. Philippines joined the WTO in 1995. The Philippines has the 33rd largest economy in the world. 

Philippines import export data shows that exports of goods and services are 31.68% of the GDP. Imports of goods and services are 44.37% of the GDP. The total imports in June 2020 were 6.634 billion USD and total exports in June 2020 were 5.331 billion USD. Philippines had a negative trade balance of 1.303 billion USD. 

Philippines import-export data is collected from custom ports across the archipelago. The data contains information contained in documents such as the bill of lading, shipping manifest, invoices, and other documents submitted to customs authorities. The information typical contained in the import-export data is as follows:-

  • Date
  • Product Description with corresponding HS Codes
  • Importers and Exporters name
  • Unit value and the total value
  • Unit quantity and total quantity
  • Port and Country of Origin
  • Destination country and port

Traders use the data to formulate their business plans and strategy. They can use the data to analyze consumption patterns. They can predict changes in customer preferences. Traders can look for new markets to procure or sell their goods. Exporters can look for new clients and importers can look for alternatives to procure merchandise. The data also helps exporters to price their products competitively. Importers can use the data to negotiate better. Companies providing logistical services can use the database to look for new clients. 

Governments and statistical bodies analyze the data to find out their main trading partners. The data helps agencies identify the major products traded by the Philippines. The government can use the data to predict the income earned through custom duties. The data is the basis for trade negotiations between countries. The Philippines can give preferential treatment to its major trade partners. The effectiveness of industrial and economic policies of the government can be evaluated by studying the import and export data.

Philippines Import Data show a 24.4% decrease in July 2020 from the previous year. The total imports of goods for the month were 7.48 billion USD. The large drop in imports was attributed to the fall in domestic demand. April 2020 saw the lowest imports in 11 years when 3.28 billion USD was imported. The total imports of goods in 2019 were 112.9 billion USD. The top 5 import of the Philippines in 2019 were:-

  • Electrical machinery, equipment( 27 billion USD)
  • Mineral fuels including oil (13.6 billion USD)
  • Machinery including computers (12.5 billion USD)
  • Vehicles (8.5 billion USD)
  • Iron, steel (3.9 billion USD)

The import data revealed that iron and steel showed a 24.7% decline. The top 5 countries importing commodities to the Philippines were:-

  • China (22.57 billion USD)
  • South Korea (11.503 billion USD)
  • Japan (11.398 billion USD)
  • United States (8.297 billion USD)
  • Thailand (7.948 billion USD)

An in-depth analysis of the import data showed 78.8% of imports were from Asia. Europe and North America accounted for 9.8% and 7.9% of imports respectively. 

According to the import data, some of the top importers in the Philippines were:-

  • Phillippine GeoGreen Incorporated
  • Enasia Import Export Corporation
  • Alba Masterpiece Importers
  • Cebu Ernbri importers
  • Estrima International Corp.

According to Philippines export data shows that exports declined by 9.6% year-on-year in July 2020. 5.65 billion USD of goods was exported in July 2020. The lowest exports of 2020 were recorded in April with exports amounting to 2.78 billion USD. This was the lowest export figure since February 2009. In 2019 the Philippines exported 70.3 billion USD worth of commodities.

The top 5 exports in the Philippines in 2019 were:-

  • Electrical machinery, equipment (34.7 billion USD)
  • Machinery including computers(10.6 billion USD)
  • Fruits, nuts(2.6 billion USD
  • Optical, technical, medical apparatus(2.2 billion USD)
  • Gems, precious metals(1.6 billion USD)

Analysis of the export data revealed that fruits and nuts were the fastest growing sector in exports showing 25.5% growth. Gems and precious metal registered a 12% growth. 

The top export partners of the Philippines are:-

  • United States of America (10.55 billion USD)
  • Hong Kong (9.55 billion USD)
  • Japan (9.47 billion USD)
  • China (8.69 billion USD)
  • Singapore (4.23 billion USD)

Breaking up the export data we learned that 67.7% of exports were to other Asian countries. North America accounted for 16.3% of total exports and 12.5% of commodities were transported to Europe.

The top exporters of the Philippines are:-

· Acbel Polytech Philippines 

· Aruze G A Philippines Branch 

· Calfurn Mfg Philippines 

· Pacific Paint Boysen Philippines 

· Yuenthai Philippines 

Seair Exim Solutions is one of the best export import data providers company. It offers 100% genuine, and the latest global trade data of more than 80 countries of the world such as India, USA, Russia, Kenya, Mexico, Indonesia, Sri Lanka, Vietnam, Pakistan etc. Our major services are USA imports data, Indian import dataIndia export data, import data Indonesia, Vietnam export data, Russia customs data, Mexico trade data, Kenya shipment data etc. You can find various free resources related to import export business like HSN code list, HS code search, HS code Finder, sac code list, sac code finder, custom duty in India, custom duty calculator, foreign ports, trading partners of India, GST rates in India, GST rates list, global traders and many more on our website – seair.co.in.

For free sample data report and free live demo data search

Phone No: +91-9990837766

Email Id- Info@seair.co.in

  • Seair Exim
  • 26-Sep-2020

Leave a Comment

Blog Search
Latest Post

Seair is proud to have a loyal customer base from big brands.

We have successfully served many reputable clients for Import-Export Data Information Services. Here are some of our clients:

Get a free Import-Export data demonstrative report on desired products.

We don’t offer any assistance over buying or selling any products.

Thank You

Big thanks to showing your interest in SEAIR Exim Solutions. We’ve currently received your request for data information. We will return on the same query in a short span of time.

Copyright © 2009 - 2020 www.seair.co.in. All Rights Reserved.