The Philippines-EFTA covers trade in goods, trade in services, investment, competition, intellectual property, government procurement, and trade and sustainable development. Under ASEAN, the Philippines has a preferential trade agreements with China, Hong Kong, India, Japan, South Korea, and Australia and New Zealand.
Who is the Philippines biggest trading partner?
Philippines Top Trading Partners
- Japan: US$9.9 billion (15.5% of total Filipino exports)
- United States: $9.7 billion (15.2%)
- China: $9.6 billion (15.1%)
- Hong Kong: $9.1 billion (14.2%)
- Singapore: $3.8 billion (5.9%)
- Thailand: $2.9 billion (4.5%)
- South Korea: $2.5 billion (4%)
- Germany: $2.4 billion (3.7%)
Who is the Philippines major export partner country?
Philippines trade balance, exports and imports by country
In 2017, Philippines major trading partner countries for exports were Japan, United States, Hong Kong, China, China and Korea, Rep. and for imports they were China, Japan, Korea, Rep., United States and Thailand.
What is the main export of Philippines?
Primary exports include semiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, and fruits. Major trading partners include Japan, China, the United States, Singapore, South Korea, the Netherlands, Hong Kong, Germany, Taiwan, and Thailand.
What are the top 3 imports of the Philippines?
The top import categories (2-digit HS) in 2019 were: electrical machinery ($4.6 billion), machinery ($3.4 billion), optical and medical instruments ($561 million), knit apparel ($480 million), and leather products ($469 million). U.S. total imports of agricultural products from Philippines totaled $924 million in 2019.
Is Philippines a third world country?
The Philippines is historically a Third World country and currently a developing country. The GDP per capita is low, and the infant mortality rate is high.
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).
What is the rank of the Philippines in the world in terms of trading?
In 2019 Philippines imported $127B, making it the number 33 trade destination in the world.
What does Philippines export to China?
The Philippines and China bilateral trade reached close to US$50 Billion in 2019, growing at an average of 17 percent in the last five years. … Top export products to China are electronic parts and semiconductors, mineral ores and agricultural products such as bananas, pineapples and marine products.
Is Philippines richer than India?
Philippines has a GDP per capita of $8,400 as of 2017, while in India, the GDP per capita is $7,200 as of 2017.
Why Philippines is still a poor country?
The main causes of poverty in the country include the following: low to moderate economic growth for the past 40 years; low growth elasticity of poverty reduction; … recurrent shocks and exposure to risks such as economic crisis, conflicts, natural disasters,and “environmental poverty.”