The Philippines, a Southeast Asian archipelago nation, is a major player in the world commercial scene. The Philippines' economy is an emerging market, classified as a newly industrialized country in the Asia-Pacific area. In 2022, the Philippines' GDP increased by 7.6 percent. However, the country is not a member of the Group of 20 nations; rather, it is classified as a second-tier emerging market or newly industrialized country.
Meanwhile, the Philippines ranks 33rd in overall imports. Philippines imports for the year 2022 were around USD 10.26 billion. Also, the most commonly imported goods are integrated circuits, petroleum oils, coal, pharmaceutical products, and motor vehicles. China, Indonesia, Japan, South Korea, the United States, and Singapore are its primary import partners.
So, what precisely does the Philippines top imports? Here in this blog, we will look at the Philippines top import products that keep the country performing.
Let’s explore the graph for Philippines import data 2023!
As per Philippines import data, the country's import performance decreased by 9.57% from January to October 2023, from US$116,083.29 million to US$104,974.10 million, compared to the same period the previous year.
| Philippines Trade Statistics | Philippines Import Data 2023 | Philippines Import Data 2022 | % |
| Total Trade | 165,881.73 | 182,161.40 | -8.94 |
| Imports | 104,974.10 | 116,083.29 | -9.57 |
| Exports | 60,907.63 66 | 66,078.11 | -7.82 |
Source: Philippines Trade Statistics Authority
According to Philippines Importers Data, the country's imports in 2022 were roughly USD 10.26 billion. Electronic devices were the most imported goods, with a total value of USD 2.42 billion.
Also read: Exploring the Global Trends in Paper Cup Export and Demand
The value of products imported into the Philippines increased by $21 billion in 2022 (from $138 billion in 2021). Let us delve into the Philippines top import products and provide a detailed analysis of import trends for the year 2022-23.
The Philippines relies on a strong worldwide network to meet its import requirements. Here is a breakdown of the top 10 philippines import partners:
The Philippines' major importing partners have a particular concentration on Asian economies. China is the leading provider, while Indonesia, Japan, and South Korea play important roles in delivering resources and technology.
Southeast Asian neighbors, such as Thailand and Malaysia, contribute to regional trade. This diversification, however, is offset by a sizable proportion classified as "Other Asian nations," indicating a greater network of ties across the continent. Also, if you need updated market insights, such as Philippines top import products Philippines importers data, connect with Seair Exim Solutions.
Also read: Exploring the Dynamics of Coconut Export from India
Now, look at the Philippines major imports List!
Let’s explore the table for Philippines top import products!
| S. No | Philippines Top Import products | Import Values |
| 1 | Electronic integrated circuits | 11.80% |
| 2 | Petroleum oils | 9.87% |
| 3 | Coal, and solid fuels manufactured from coal | 4.14% |
| 4 | Motor cars and other motor vehicles | 2.44% |
| 5 | Optical, photographic, and medical apparatus | 2.08% |
| 6 | Pharmaceutical products | 1.85% |
| 7 | Wheat and meslin | 1.77% |
| 8 | Oil cake and other solid residues | 1.31% |
| 9 | Parts and accessories | 1.48% |
| 10 | Electrical apparatus | 1.73% |
According to Philippines import data, these are the top Philippines import products:
So, these are the Philippines major imports List. If you are looking for its updated global trade data, connect now and expand your trade business instantly.
If you need the updated Philippines major imports list, Buyers List of Philippines, top commodities imported in the Philippines, you first need to comprehend the complexity of global trade.
China, as a large market, could be a potential destination for the Philippines top import products. To successfully import items in the Philippines, businesses must adhere to trade laws, grasp market trends and HS codes, and know the exact Philippines top import products.
To gain accurate Philippines Importers data, firms must seek accurate and current import data from the finest import export data source, such as Seair Exim Solutions, and acquire global trade data without any delay.
As we near the end of this blog, we'd like to emphasize that the Philippines is a rising nation with rapid growth in trade, infrastructure, and healthcare facilities. Thus, the Philippines' top import products provide a full picture of the country's economic climate and global trade dynamics.
Whether it is electronic integrated circuits, petroleum oils, or motor cars, the Philippines deliberately invests in foreign commerce to meet its diverse needs. We hope you liked our informative blog on the Philippines top import products, as well as the top 10 import partners in 2023.
Feel free to contact Seair Exim Solutions with any questions about HS codes, export import data, or global trade data. Our professionals will guide you to the best of their knowledge and experience. To set up a free live demo, click here.
Q1. What are the Philippines main imports?
As per Philippines import data, Electronic integrated circuits, Petroleum oils, Coal briquettes, and solid fuels manufactured from coal, Motor cars and other motor vehicles, Optical, photographic, and medical apparatus are the major Philippines top import products.
Q2. What are the 10 imports in the Philippines?
As per Philippines importers data, Philippines top import products are:
Q3. What Philippines imports from India?
India is a significant exporter of several items to the Philippines. Here are some of the major imports:Pharmaceuticals, Vehicles, Food. If you need the updated market insights of the Philippines, connect with Seair Exim Solutions.
Q4. What are the Philippines major imports List?
The Philippines relies heavily on imports to meet expanding consumer demand throughout the country. Here is the list of philippines importers list:
To know the updated Philippines importers list, you can visit Seair Exim Solutions.
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