The Philippines shipped US$58.6 billion worth of products around the globe in 2015. That figure represents roughly 0.3% of overall global exports estimated at $18.686 trillion.
From a continental perspective, 67.1% of total Filipino exports by value in 2015 were delivered to other Asian trade partners.
North American importers purchased 16.8% of shipments from the Philippines while 12.8% worth of products arrived in European countries.
At 1.3%, a much smaller portion of Filipino exports were bought by importers located in Africa.
From a continental perspective, 67.1% of Filipino exports by value are delivered to Asian countries while 16.8% are sold to North American importers. The Philippines ships another 12.8% worth of goods to European clients with 1.3% going to Africa.
Philippines Top 15 Import Partners
Below is a list showcasing Philippines top 15 import partners, countries that imported the most Filipino shipments by dollar value during 2015. Also shown is each import country’s percentage of total Filipino exports.
- Japan: US$12.4 billion (21.1% of total Filipino exports)
- United States: $8.8 billion (15%)
- China: $6.4 billion (10.9%)
- Hong Kong: $6.2 billion (10.6%)
- Singapore: $3.6 billion (6.2%)
- Germany: $2.6 billion (4.5%)
- South Korea: $2.5 billion (4.3%)
- Thailand: $2.3 billion (3.9%)
- Taiwan: $2.2 billion (3.7%)
- Netherlands: $1.8 billion (3%)
- Malaysia: $1.2 billion (2%)
- Vietnam: $727 million (1.2%)
- Indonesia: $628.3 million (1.1%)
- Liberia: $564.7 million (1%)
- Canada: $563.5 million (1%)
Almost nine-tenths (89.5%) of Filipino exports in 2015 were delivered to the above 15 trade partners.
Singapore was the only top importer that decreased its purchases from the Philippines over 2011 to 2015, down in value by -14.7%. Among the other 14 countries, gains ranged from a minimum of 1.3% for Vietnam up to an impressive 752,816% for Liberia over the same 5-year period.
As defined by Investopedia, a country whose total value of all imported goods is higher than its value of all exports is said to have a negative trade balance or deficit.
It would be unrealistic for any exporting nation to expect across-the-board positive trade balances with all its importing partners. Similarly, that export country doesn’t necessarily post a negative trade balance with each individual partner with which it exchanges exports and imports.
In 2015, the Philippines incurred the highest trade deficits with the following countries:
- China: -US$5.1 billion (country-specific trade deficit in 2015)
- Taiwan: -$3.3 billion
- Indonesia: -$2.5 billion
- Thailand: -$2.2 billion
- Malaysia: -$2.1 billion
- South Korea: -$2 billion
- Saudi Arabia: -$1.8 billion
- Singapore: -$1.2 billion
- India: -$906.3 million
- Kuwait: -$727.5 million
Among Filipino import partners that cause the greatest negative trade balances, Filipino deficits with Kuwait (up 13,766%), China (up 1,164%) and India (up 190.1%) grew at the fastest pace from 2011 to 2015.
These cashflow deficiencies clearly indicate competitive disadvantages with the above countries, but also represent key opportunities for the Philippines to develop country-specific strategies to strengthen its overall position in international trade.
Based on Investopedia definition of net importer, a country whose total value of all imported goods is lower than its value of all exports is said to have a positive trade balance or surplus.
In 2015, the Philippines incurred the highest trade surpluses with the following countries:
- Japan: US$5.6 billion (country-specific trade surplus in 2015)
- Hong Kong: $4.3 billion
- Netherlands: $1.4 billion
- United States: $1.2 billion
- Liberia: $564.6 million
- Mexico: $348.5 million
- Marshall Islands: $244.8 million
- Malta: $244.2 million
- Hungary: $167.7 million
- Canada: $161.6 million
Among the top 15 Philippines import partners that cause the greatest positive trade balances, Filipino surpluses with Liberia (up 784,135%), Canada (up 38,652%) and Malta (up 3,085%) grew at the fastest pace from 2011 to 2015.
These positive cashflow streams clearly indicate competitive advantages with the above countries, but also represent key opportunities for the Philippines to develop country-specific strategies to optimize its overall position in international trade.
Companies Servicing Filipino Import Partners
Ten Filipino corporations rank among Forbes Global 2000 for 2015. Below is a sample of the major companies headquartered in the Philippines that Forbes included:
- San Miguel (industrial conglomerates)
- PLDT (telecommunications services)
- Ayala (industrial conglomerates)
- Aboitiz Equity Ventures (industrial conglomerates)
- Alliance Global Group (industrial conglomerates)
According to global trade intelligence firm Zepol, the following companies are also examples of Filipino export companies:
- Acbel Polytech Philippines (electric static converters, primary batteries)
- Calfurn Mfg Philippines (bamboo/wood furniture, kitchenware, tableware)
- Yuenthai Philippines (shirts, blouses)
- Pacific Paint Boysen Philippines (polymers, oils)
- Aruze G A Philippines Branch (machine tools, printers, copiers, operated games)
See also Highest Value Filipino Import Products and Philippines Top 10 Imports
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on April 11, 2016
The World Factbook, Country Profiles, Central Intelligence Agency. Accessed on April 11, 2016
Trade Map, International Trade Centre. Accessed on April 11, 2016
Investopedia, Net Exports Definition. Accessed on April 11, 2016
Wikipedia, List of Companies of the Philippines. Accessed on April 11, 2016
Forbes 2015 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on April 11, 2016
Zepol’s company summary highlights by country. Accessed on April 11, 2016