Philippines
Asia & Middle East
Trade in Philippines
| The Philippines was the world’s 49th largest exporter of goods and 31st largest exporter of commercial services in 2022. Export values were $78.93 billion and $41.07 billion USD respectively. The Philippines’s top export category was Manufactures, followed by Machinery and transport equipment, and Office and telecom equipment. In 2022, The Philippines’s main export destination markets for goods and services trade were to Japan, United States and China, with trade representing 72.42 per cent of GDP. In terms of imports, The Philippines is the world’s 35th largest importer of goods and 42nd largest importer of commercial services. Import values were $145.87 billion and $25.44 billion USD respectively in 2022. The Philippines’s top import category was Manufactures, followed by Machinery and transport equipment and Fuels and mining products. Leading import partners were China, Japan and United States. The Philippines is part of 12 different Regional Trade Agreements, including ASEAN – Australia – New Zealand and ASEAN – China. |
General InformationThis section includes general information on the economy, legal system, official languages and links to additional demographic information. |
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Official Name |
Republic of the Philippines |
Abbreviation |
PH |
Capital |
Manila |
WTO Membership Date |
1 January 1995 |
Legal System |
mixed legal system of civil, common, Islamic (sharia), and customary law |
Language |
Filipino, English |
Number of Time Zone(s) |
1 |
Additional Information | |
Financial InformationThis section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance. |
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Currency |
Philippine peso |
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Exchange Rate |
Google Finance Currencies |
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GTFP Confirming Banks Through the IFC's Global Trade Finance Program (GTFP) bank network, local financial institutions can establish working partnerships with a vast number of major international banks in the Program that can broaden access to finance and reduce cash collateral requirements. This extends and complements the capacity of banks to deliver trade finance by providing risk mitigation on a per-transaction basis in challenging markets where trade lines may be limited. |
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Contact InformationThis section includes contact information for business support organizations and national resources. |
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Business Support Organizations |
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Government MSME Agency |
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SPS Enquiry Points Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements. |
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Additional Information |
ePing alert |
Links to other helpful resourcesThis section includes additional links to trade-related resources. |
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National Tariff Finder |
https://finder.tariffcommission.gov.ph/ |
Trade Information Portal |
https://www.pntr.gov.ph/ |
Last Reviewed: June, 2024
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