Philippines All Relevant Import and Export Statistics that you Must Know

Philippines is the 31st largest trading partner with $18.9 billion in total goods trade during 2020. As per Philippines Import Data, the value of goods exports totalled $7.7 billion of goods. The major imports of the country are electronic products, mineral fuels and transport equipment.

As per Philippines Custom Data, the main import partners are China, the United States, Japan and Taiwan. Before the corona virus pandemic the Philippine economy was one of the world’s best performers with an average growth rate of 6.6% from 2012 to 2019.

The Philippines economy grew by 11.8% in the second quarter of 2021. The imports of the country expand after a long slump but trade deficit stays modest. Inbound shipments of goods and services will continue to expand in the coming months, benefitting from a favourable base and with manufacturers replenishing depleted inventories.

The country is expected to import more rice in the year 2021-2022 due to improving economic conditions and an upturn in sanitary clearances. As per Philippines Custom Data, imports are now estimated at 2.2 million tonnes up from the 2 million tonnes imported a year ago. Rice is the staple food of the country, more important to the economy and to the people at a lower income levels and so an important intervention point for promotion of agricultural development and alleviation of poverty. Rice is what many framers of Philippines grow but it is also what nearly all the consumers eat.

Rice is considered as socially and politically sensitive commodity and securing it at any cost is important and so shortage in rice production has been augmented by imports from other South Asian countries – Vietnam and Thailand.

As per Philippines Export Data, the export value of Philippines was $6.54B. The major exports were electronic products, woodcrafts, and furniture. The country is also the world’s largest producer of pineapple, coconut and abaca.

The major export partners are United States, Japan, China, Hong Kong, and Singapore. Mango is the third most important fruit crop in Philippines next to banana. Compared to other crops cultivated in the country like rice, corn and sugarcane, mangoes are a high value crop and provide a huge boost to the rural and national economy.

As per Philippines Shipment Data, the country exports mangoes to more than 40 countries with most of the exports going to East Asian Countries including Hong Kong, Japan, South Korea, Malaysia and Canada.

Indonesia All relevant Import and Export Statistics that you Must Know

Comments

Post a Comment

Popular posts from this blog

Import and Export Procedures in Vietnam 2023

Import Procedures in Vietnam: Import License: Some goods require an import license issued by the relevant authorities in Vietnam. Importers should check whether their products fall under this category. Customs Declaration: Importers must complete customs declarations accurately and submit them along with supporting documents to customs authorities. Vietnam Import Data Customs Clearance: Imported goods must undergo customs clearance procedures, which include inspection, assessment of duties and taxes, and compliance verification. Payment of Duties and Taxes: Importers are responsible for paying import duties, taxes, and other applicable fees based on the classification and value of the imported goods. Documentation: Required documents for importation typically include commercial invoices, packing lists, bill of lading or airway bills, import permits or licenses (if applicable), and certificates of origin. Export Procedures in Vietnam: Export Registration: Some products may require ex...
Read more

Russia Import Export Statistics 2023

  Russia's trade activities were significant, with both exports and imports playing crucial roles in its economy. Here's a general overview: Exports: Energy Resources: Russia is renowned for its vast energy resources, particularly oil and natural gas. These resources constitute a substantial portion of Russia's export revenue. Russia Export Data Minerals and Metals: Russia also exports various minerals and metals, including iron ore, coal, aluminum, and copper. Arms and Military Equipment: The country is a significant exporter of arms and military equipment to various countries around the world. Agricultural Products: Russia exports agricultural commodities such as wheat, barley, and other grains. Imports: Machinery: Russia imports machinery and equipment for industrial purposes, including machinery for manufacturing and infrastructure development. Russia Import Data Consumer Goods: Like many countries, Russia imports various consumer goods such as electronics, clothi...
Read more

Importance of Turkey Import Export in Trade Data Business

Are you planning to do trade business with Turkey? If so, it is very important to know the trade dynamics of the country so that you can make informed business decisions. Here comes the need of Turkey Global Import Export Data details on real-time basis for successful international trade expansion. Turkey Import Data is collected of statistical information about each company’s business activities. It is based on the shipping bills, import bills, invoices and other import export documents. The data provides a bird’s eye view of the commodities that are imported or exported in Turkey. The Turkey import and export data contains information about price, HS code, importers’ details, exporters’ details, custom data, shipment data, competitors’ data, product description and quantity. Know the importance of Turkey import export data 1. The authentic and real-time import export data is used to estimate the consumption pattern of Turkey. The businesses can predict the local demand of commoditi...
Read more