The Philippines is the 12th most populated country in the world thus in order to satisfy the needs of its people, the country imports electronic products, machinery, iron and steel, grains and plastic items. It also ranks as the 41st country with the high importations. The following are the country’s top imports namely: the integrated circuits with about $11.6 billion, crude petroleum with $6.12 billion), refine petroleum for $5.29 billion, $2.39 billion for cars whine the spacecraft, helicopters and planes comprise around $2.33 billion.
The country obtains much of its import commodities from China (13%), Japan (12%), the United States (12%) and Singapore (9%). The Philippines’ estimated imports could reached $72.9 billion.
|Official Name (Local Language)||Republika ng Pilipinas||Capital||Manila||Population||102,624,209||Currency||Philippine Peso||GDP||$311.7 billion||Languages||English; Filipino||Telephone Dial In||63|
% Partner Share
Parts of electronic integrated circuits and mic
Monolithic integrated circuits, nes
Petroleum oils, etc, (excl. crude); preparation
Petroleum oils and oils obtained from bituminou
Parts of printing machinery & machines for uses
Rice, fish, livestock, poultry, bananas, coconut/copra, corn, sugarcane, mangoes, pineapple, cassava
Semiconductors and electronics assembly, food and beverage manufacturing, construction, electric/gas/water supply, chemical products, radio/television/communications equipment and apparatus, petroleum and fuel, textile and garments, non-metallic minerals,
Travel Other business services Transportation Insurance services Royalties and license fees Computer and information services Government services Communications services Financial services Cultural and recreational services Construction services
The country’s total value of exports reached to $50.7 billion which is composed primarily of integrated circuits ($19 billion), computers ($6 billion), machine parts ($3.1 billion) and electrical transformers ($2.2 billion).
These items are then shipped to the Philippines’ major export partners, such as the United States which received 17.6 percent of the total exports, Japan following with 16.2%, then by the Netherlands with 9.8%.
Bangko Sentral ng Pilipinas
Lower Middle Income