In 2020 the Philippines was the 34th world largest importer and 43rd largest exporter country across the globe, suggests the data and research reports of Exim Trade Data.
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Total Import-Export & Trade Value of Philippines
● $152.46 billion worth of Imports in 2019
● $119.24 billion worth of imports in 2020
● $106.95 billion worth of exports in 2019
● $91.05 billion worth of exports in 2020
Trade Statistics of the Philippines
● Trade Balance: $-45.51 billion in 2019, and $-28.19 billion in 2020
● Current Account: $-600 million
● GDP: $361.49 billion in 2020
● Tariff Rates: 1.68% in 2019
List of The Major Trading Partners of the Philippines 2020
Based on the Philippines Export Trade Data and market analysis reports, Japan $9.9 billion (15.5%), China $9.6 billion (15.1%), Singapore $3.8 billion (5.9%), South Korea $2.5 billion (4%), Taiwan $2.1 billion (3.2%), Malaysia $1.8 billion (2.7%), India $551.3 million (0.9%), France $472.7 million (0.7%), United States $9.7 billion (15.2%), Hong Kong $9.1 billion (14.2%), Thailand $2.9 billion (4.5%), Germany $2.4 billion (3.7%), Netherlands $1.9 billion (3%), Vietnam $1.3 billion (2%), Mexico $545.6 million (0.9%) were some of the top exporter countries of the Philippines in 2020.
Major Imports of the Philippines in 2020
The market analysis reports suggest Electrical Machinery & Equipment $27 billion (23.9%), Electronics & Computers $12.5 billion (11.1%), Steel & Iron $3.9 billion (3.5%), Cereals $2.9 billion (2.6%), Technical, Optical & Medical Apparatus $2.4 billion (2.1%), Mineral Oils & Fuels $13.6 billion (12%), Vehicles $8.5 billion (7.5%), Plastics & Articles of Plastics $3.7 billion (3.3%), Spacecraft & Aircraft $2.8 billion (2.5%), and Articles of Steel & Iron $1.9 billion (1.7%) were the top imported products of the Philippines as per Philippines import data 2020.
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