Which country does Philippines trade with the most?

What country does 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

Who are the Philippines main trading partners?

The main trade partners of the Philippines include China, Japan, the United States, Singapore and Hong Kong. The Philippines is the world 36th largest economy and the thirteenth largest economy in Asia. This newly industrialized country is mainly dependent on agriculture, service and manufacturing for its GDP.

Does the Philippines trade with other countries?

Under ASEAN, the Philippines has preferential trade agreements with China, Hong Kong, India, Japan, South Korea, and Australia and New Zealand. Visit https://www.dti.gov.ph/ and http://tariffcommission.gov.ph/ for a list of Philippine trade agreements and corresponding tariff schedules and commitments.

What is the biggest export of Philippines?

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%

What is Philippines known for?

The Philippines is known for having an abundance of beautiful beaches and delicious fruit. The collection of islands is located in Southeast Asia and was named after King Philip II of Spain. … The Philippines is made up of 7,641 islands, making it one of the largest archipelagos in the world.

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What does Philippines import most?

Philippines Imports Grow the Most in Over 10 Years

Philippines major imports are: electronic products (25 percent), mineral fuels (21 percent) and transport equipment (10 percent). Philippines’s main import partners are: China (13 percent), the United States (11 percent), Japan (8 percent) and Taiwan (8 percent).

What do you think is the biggest export country for the Philippines?

The top export destinations of the Philippines are Hong Kong ($13.9 billion), United States ($13.8 billion), China ($13.3 billion), Japan ($11.2 billion), and Singapore ($7.92 billion).

Is the Philippines not ready to face globalization?

The Philippines finds it hard to cope with the globalization process because its weak institutions of governance have failed to create suitable socioeconomic and political conditions that will attract more capital and technology from both domestic and foreign sources necessary for economic growth.

Why did the US want the Philippines?

Americans who advocated annexation evinced a variety of motivations: desire for commercial opportunities in Asia, concern that the Filipinos were incapable of self-rule, and fear that if the United States did not take control of the islands, another power (such as Germany or Japan) might do so.

What resources does the US get from the Philippines?

Key imports from the Philippines are semiconductor devices and computer peripherals, automobile parts, electric machinery, textiles and garments, wheat and animal feeds, coconut oil, and information technology/business process outsourcing services.

What is the Philippines main export?

Exports in Philippines account for nearly a third of GDP. Major exports are: electronic products (42 percent), other manufactures (10 percent) and woodcrafts and furniture (6 percent). Philippines is also the world’s largest producer of coconut, pineapple and abaca.

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