Philippines world map

Trade in Philippines

The Philippines was the world’s 45th largest exporter of goods and 31st largest exporter of commercial services in 2021. Export values were $74.6 and $33.6 billion USD respectively. The Philippines’s top export category was manufactures, followed by agricultural products, and fuels and mining products. In 2020, The Philippines’s main export destination markets for goods and services trade were to Japan, the United States and China, with trade representing 58.17 per cent of GDP. In terms of imports, The Philippines’s import values were $124.4 and $19.0 billion USD respectively in 2021. The Philippines’s top import category was manufactures, followed by fuels and mining products and agricultural products. Leading import partners were China, Japan and the United States. The Philippines is part of 11 Regional Trade Agreement,  ASEAN – Australia – New Zealand, ASEAN – China.
Regional Trade Agreements Database

General Information

This section includes general information on the economy, legal system, official languages and links to additional demographic information.

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 Information

This section includes financial information such as the currency, exchange rate lookup and local banks issuing trade finance.

Currency

Philippine peso

Exchange Rate

Google Finance Currencies

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.
  • Australia and New Zealand Banking Group Limited Manila - Manila, Philippines - SWIFT: ANZBPHMXXXX

  • Bank of America NA Manila - Manila, Philippines - SWIFT: BOFAPH2X

  • Bank of China Manila - Manila, Philippines - SWIFT: BKCHPHMM

  • BNP Paribas Manila Offshore Branch - Manila, Philippines - SWIFT: BNPAPHMM

  • Citibank NA Philippines - Manila, Philippines - SWIFT: CITIPHMX

  • Deutsche Bank AG Manila - Manila, Philippines - SWIFT: DEUTPHMM

  • Maybank Philippines Incorporated - Manila, Philippines - SWIFT: MBBEPHMM

Contact Information

This section includes contact information for business support organizations and national resources.

Business Support Organizations

Government MSME Agency

  • The Small Business Guarantee and Finance Corporation (SB Corporation)

SPS Enquiry Points

Sanitary and phytosanitary (SPS) enquiry points are government agencies designated to answer questions about trade requirements.
  • Office of the Director
    Policy Research Service
    Department of Agriculture
    Phone: +(632) 926 7439

    Elliptical Road, Diliman

    [email protected]

Additional Information

ePing alert

Links to other helpful resources

This section includes additional links to trade-related resources.

National Tariff Finder

https://finder.tariffcommission.gov.ph/

Trade Information Portal

https://www.pntr.gov.ph/

Last Reviewed: June, 2023

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Policymakers & Researchers

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