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Philippines Export Data

Philippines Trade Data shows a deficit in trade that has decreased to around USD 2.42 billion in January 2021. Imports to this country have shown a severe drop at a faster rate of 14.9% to USD 7.91 billion, while the exports dropped by 5.2% to USD 5.49 billion. Being a trade deficit country, countries that are listed on WCO have better opportunities to trade with the country.

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Philippines Export Data

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  1. Philippines Export Data The economy of the Philippines though is comprised of more than 7,000 islands, lives mostly on only 11 of them. As per the present situation, the country ranks 43rd largest export the worldwide. As per the Philippines Export Data, its annual total exports have been 97.8 billion dollars. And for the same period, the total annual imports were around 35 billion dollars. This turned out to be a trade deficit of 36.7 billion dollars. The data also revealed that the annual exports had seen a fall of over 17.6 billion dollars in the last five years from the year 2013 to 2018. The export trade in terms of international trade reveals that the country had exported goods that worth around 63.8 billion US dollars in the year 2020. The top commodities that the country exports include electrical machinery & equipment, edible fruits & nits, machinery, medical equipment, copper and articles, vehicles, precious stones, fats & oils of vegetables, and animals. Philippines Import Data reveals that the country stands at 34th position as the largest importer in the world as per the year 2020. As per the import statistics of the country, the major import commodities include mineral fuels & oils, machinery, electronics, iron & steel, and vehicles. The largest import partners that the country has shown that China is at the top which is followed by Japan, United States, and South Korea. The GDP of the country is 331 billion dollars, which can be equated to a GDP per capita of 3,103 dollars. This is why the country had made its position in the 38th level out of the 196 countries. Philippines trade data mainly shows data on its major sectors like agriculture, aerospace, shipbuilding 7 repair, automotive, tourism, and mining & extraction. Presently, the data provides the increase in the trade deficit that the country is having. It has shown an increase to around 2.29 billion US dollars in the month of February of 2021 from the previous year, which was 1.97 billion US dollars. Philippines Trade Data is the platform of market research for exporters, importers, companies, logistics, business analysts, media, financial institutions, and other business groups to examine the present situation of the import & export market of the country and get the best prospects. The data is based on import & export bills, invoices, shipping bills, description of the product, its quantity, value, price, and other essentials documents that are required for the export-import business process. The prime source to collect the Philippines trade data is from the Filipino Customs.

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