Philippines Trade Data, Philippines Import Data, Philippines Export Data
According to the international monetary fund, the economy of the Philippines is the 32nd largest economy by nominal GDP in the world and 12th largest economy in Asia, and the 3rd largest in ASEAN. The Philippines is one of the fastest growing and emerging markets in the world.
Philippines export data reveals
that its primary exports include semiconductors, copper, petroleum product,
garments, transport equipment, coconut oil, and fruits.
The top trading partners of the Philippines are the United
States, China, Japan, Hong Kong, Singapore, and Thailand.
According to Philippines trade data, it exported USD 74.6%
billion worth of goods around the world in 2021, which is 18% more than in
2017, and it has been increasing at the rate of 16.8% from 2020 to 2021.
Philippines
trade Data activities in 2022
Philippines trade data shows
that the country’s total external trade made up to USD 19.13 billion which
shows a 16.1% increase in annual growth rate.
In June the country’s total export sales increased by 1 percent
which amounted to USD 6.64 billion.
In the commodity sector, the electronics product was highest as
always. It alone made up 53% of total exports. This was followed by minerals
products which were 7.3% and other manufactured goods comprised only 5.3%.
The export data shows that there was an increase in personal
protective equipment and medical supplies in June 2022, and the increase in the
supply of surgical masks at 618.0 percent contributed to rising in the export
of personal protective equipment and medical supplies. Meanwhile, the export value
of another kind of masks like cloth masks decreased at the rate of -38.2%.
Philippines export data reveals
that in June 2022 Unites States was the major trading partner in exporting
among the other export partners.
Total imported goods increased in the Philippines at the annual
rate of 26.0 percent, which comprised of USD 12.49 billion.
According to Philippines
import data its annual import improves in June due to lubricant,
minerals, and fuels-related materials which contributed 125.15. this was
followed by iron and steel which increased by 34.3 percent and later
telecommunication equipment and electronic machinery which rose by 23.1percent.
Most imported products in the commodity group were electronic
products which made up the import value of USD 2.8 billion in June.
In general types of goods, the import of raw minerals and
intermediate products contributed the biggest share out of all the imported
goods making 37.1 percent which amounts to USD 4.36 billion. This was followed
by imports of capital goods (24.9%) and mineral, fuel, lubricant related
products (21.2%)
However, the Philippines import data shows that the import of
personal protective equipment and medical supply majorly the COVID-19 vaccine
declined to USD 17.42 million in June 2022.
The Philippines import data shows
that China was the country’s biggest importer. The value amounted to USD 2.55
billion which is 20.4% of the total import value.
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