The Philippines’ trade
deficit in June 2019 narrows to US$ 2.47 billion as exports continued to grow
while imports declined further. According to Philippines Trade Data, the country’s balance of trade recorded US$
(-) 2472 million in June month of 2019, while US$ (-) 3690 million recorded in
same month last year. Let’s discuss about Philippines trade with special focus
on Philippines exports and imports and try to analyse the country’s market from
Philippines import and export data.
Philippines
Exports and Imports in June 2018 and June 2019
Philippines’ total exports
and imports valued at US$ 6008 million and US$ 8480 million respectively in
June 2019. Exports were rose from US$ 5861 million and imports were declined
from US$ 9551 million in same month last year. Total external trade in
commodities in June amounted to US$ 14.49 billion, a decline of 5.8% from US$
15.39 billion in the same month in the previous year. According to the National Economic and Development Authority
(NEDA), the reason for this weakness in external trade is ongoing global
trade disputes.
By commodity, Philippines
recorded an increase in export of fresh bananas, cathodes, electronic products,
gold, transport equipment, machinery and mineral goods. Electronics remained
the largest export product of the Philippines.
Imports of cereals, iron
& steel, industrial machinery & equipment, cereal preparations,
transport equipment, plastics, electrical machinery, telecommunication
equipment, food, mineral fuels and miscellaneous manufactured articles declined
in June 2019. Analyse import and export in the Philippines from the chart and
table given below.
|
Month/Year |
June 2018 |
June 2019 |
|
Total Value (Exports + Imports) |
US$ 15412 million |
US$ 14488 million |
|
Export Value |
US$ 5861 million |
US$ 6008 million |
|
Import Value |
US$ 9551 million |
US$ 8480 million |
|
Balance of Trade |
US$ (-) 3690 million |
US$ (-) 2472 |
>>
Search Philippines Import Export Data and Filipino Importers & Exporters!
The United States of America
remained as the top destination for Philippine exports, while China stood as
the country’s biggest supplier of imported goods. Philippines’ largest export
partners are – Japan, China, Hong Kong and Singapore. Philippines’ biggest
import partners are – Japan, South Korea, United States and Thailand.
Philippines’
Major Imports
As per Philippines import data, the country’s total imports valued at US$
115038 million in 2018. Electrical machinery and equipment is the largest
import commodity of the country, which recorded US$ 28342 million import value
in the said year. Check the list of Philippines’ top 5 import commodities 2018 with
their percentage shares.
|
Product |
Percentage |
|
Electrical Machinery and Equipment |
24.64% |
|
Mineral Fuels and Oils |
12.07% |
|
Machinery, Mechanical Appliances, etc. |
11.11% |
|
Vehicles |
7.52% |
|
Iron and Steel |
4.54% |
Philippines’
Main Exports
As per Philippines export data, total exports amounted to US$ 67487
million in 2018. Electrical machinery and equipment is also country’s largest
export commodity, which recorded US$ 32874 million value in the last year. Here
is the list of top 5 export commodities 2018 with their percentage shares.
|
Product |
Percentage |
|
Electrical Machinery and Equipment |
48.71% |
|
Machinery, Mechanical Appliances, etc. |
14.29% |
|
Optical, Photographic, Medical, Equipment, etc. |
3.32% |
|
Edible Fruit and Nuts |
3.07% |
|
Natural or Cultured Pearls, Precious Stones, etc. |
2.15% |
Philippines import-export
market can be analysed on the basis of:
·
Market Size
·
Market Price
·
Market Strategy
·
Companies
·
Commodities
·
Ports
·
Trading Partners
·
Trading Countries
·
Many More
Whether you want to import
or export a product from the Philippines, our trade data of Philippines will
give you the best coverage of country’s import and export activities. Our data
contains importers and exporters in the Philippines besides other information. Check
samples below to know which columns are covered in our Philippines import and
export data.
Sample
1 – Philippines Import
|
Date |
2-June-2018 |
|
Filipino Importer Name |
Awesome Traders |
|
Exporter Name |
Pinter Food Co. |
|
Broker Name |
Elizabeth B. |
|
HS Code |
20093900000 |
|
Product Description |
Wintermelon Syrup, |
|
Origin Country |
Taiwan, Province of |
|
Port of Entry |
Manila Int’l |
|
Port of Destination |
Manila Int’l |
|
Quantity |
2224 |
|
Gross Weight KGS |
41856 |
|
Net Weight KGS |
39632 |
|
FOB Value (USD) |
21624.63 |
|
Freight |
499.92 |
|
Terms of Delivery |
CFR |
|
Insurance |
432.49 |
|
Quantity Units |
Litre (1 dm3) |
|
Item No. |
1 |
|
Number of Packages |
2224 |
|
Type of Packages |
CT |
|
Bill of Lading Number |
HDMUKAML0637045 |
|
No. of Container |
3 |
|
Container Type |
FCL |
Sample
2 – Philippines Export
|
Date |
1-June-2018 |
|
Filipino Exporter Name |
LA Suerte Cigar |
|
Consignee Name |
Network Star |
|
Destination Country |
Singapore |
|
HS Code |
24022090000 |
|
Product Description |
Astro Filter King |
|
Terms |
FOB |
|
Gross Weight (KG) |
28122 |
|
Package Number |
4360 |
|
Package Unit |
CS |
|
FOB Value (USD) |
204048 |
The Philippines, officially
the Republic of the Philippines is a country in south-east Asia. It ranked 34
in imports and 41 in exports globally in 2018. So, get the latest updates on
Philippines trade with the list of importers and exporters in the Philippines right
at Philippines Trade Data.
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