What does Philippines trade with other countries?

What countries does the Philippines trade with?

Philippines top 5 Export and Import partners

Market Trade (US$ Mil) Partner share(%)
United States 11,574 16.32
Japan 10,675 15.05
China 9,814 13.84
Hong Kong, China 9,625 13.57

What does Philippines export to other countries?

Economy of the Philippines

Statistics
Exports $86.6 billion (2019)
Export goods semiconductors and electronic products, machinery and transport equipment, wood manufactures, chemicals, processed food and beverages, garments, coconut oil, copper concentrates, seafood, bananas/fruits

What is the Philippines biggest export?

Searchable List of Philippines’ Most Valuable Export Products

Rank Philippines’ Export Product Change
1 Integrated circuits/microassemblies +6.5%
2 Computers, optical readers -28.8%
3 Computer parts, accessories +55.9%
4 Insulated wire/cable -17.3%

Who is Philippines largest trading partner?

Trade picture

The EU is the Philippines’ fourth largest trading partner, accounting for the 8.4% of the country’s total trade in 2020 (after China, the US and Japan).

Is Philippines richer than India?

Philippines has a GDP per capita of $8,400 as of 2017, while in India, the GDP per capita is $7,200 as of 2017.

What fruit does Philippines export?

Tropical fruits on display Bananas, pineapples, guavas, mangoes and papayas are the top fruits exported from the Philippines by value.

Is Philippines a third world country?

The Philippines is historically a Third World country and currently a developing country. The GDP per capita is low, and the infant mortality rate is high.

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Is Philippines part of WTO?

The Philippines has been a WTO member since 1 January 1995 and a member of GATT since 27 December 1979.

What are the benefits of international trade?

What Are the Advantages of International Trade?

  • Increased revenues. …
  • Decreased competition. …
  • Longer product lifespan. …
  • Easier cash-flow management. …
  • Better risk management. …
  • Benefiting from currency exchange. …
  • Access to export financing. …
  • Disposal of surplus goods.
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