#philippinesimportdata

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Discover the top 10 exports of the Philippines and their impact on global trade. Explore key industries, export trends, and insights from Philippines import data. Get reliable Philippines import-export data with TradeImex to make informed business decisions.

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Philippines Top 10 Imports: An In-Depth Analysis

In 2023, the Philippines exhibited a robust trade dynamic, exporting goods worth $115.26 billion and importing goods valued at $159.29 billion. This article delves into the key aspects of the Philippines top 10 imports, highlighting the top imported products, major import partners, and the reasons behind the country's reliance on imports.

Why Does the Philippines Rely on Imports?

The Philippines, a beautiful island nation surrounded by oceans, depends heavily on imports for several reasons. As an archipelago, it lacks extensive tracts of land necessary for large-scale agriculture, making it challenging to cultivate staples like rice. Urbanization has further reduced agricultural land, increasing reliance on imported food to meet demand. Despite efforts to boost agricultural self-sufficiency, significant investments and time are required to reduce this dependence on imports.

Philippines Import Data: 2023-24

Import Performance

According to Philippines import data, the country's import performance declined by 9.57% from January to October 2023, dropping from US$116.08 billion to US$104.97 billion compared to the same period the previous year. Despite this decline, the Philippines remains a significant player in global trade.

Major Import Partners

The Philippines' top import partners are predominantly Asian economies. Here is an updated list of the top 10 import partners:

China: US$29 billion

Indonesia: US$13.9 billion

Japan: US$13 billion

Korea: US$12.7 billion

USA: US$9.69 billion

Singapore: US$8.46 billion

Thailand: US$7.65 billion

Other Asian nations: US$7.09 billion

Malaysia: US$6.68 billion

Vietnam: US$4.77 billion

These countries provide a range of resources and technology, with China leading the way, followed by Indonesia, Japan, and South Korea.

Philippines Top 10 Imports in 2024

The Philippines' top imports reflect the country's diverse needs, from electronics to essential fuels and medical supplies. Here's an updated list of the top 10 imported products in 2024:

Electronic integrated circuits: 11.8%

Petroleum oils: 9.87%

Coal and solid fuels manufactured from coal: 4.14%

Motor cars and other motor vehicles: 2.44%

Optical, photographic, and medical apparatus: 2.08%

Pharmaceutical products: 1.85%

Wheat and meslin: 1.77%

Oil cake and other solid residues: 1.31%

Parts and accessories: 1.48%

Electrical apparatus: 1.73%

Analysis of Top Imports

Electronic Integrated Circuits: Leading the imports, electronic integrated circuits are crucial for the Philippines' electronics manufacturing sector.

Petroleum Oils: As a vital energy source, petroleum oils are essential for transportation and industrial use.

Coal and Solid Fuels: These fuels are pivotal for energy production, especially in power plants.

Motor Vehicles: The import of motor vehicles caters to the growing demand for transportation in urban areas.

Medical Apparatus: Optical, photographic, and medical devices are crucial for healthcare services.

Pharmaceutical Products: These are indispensable for public health, addressing the medical needs of the population.

Wheat and Meslin: As staple foods, wheat and meslin are vital for food security.

Oil Cake and Residues: These are primarily used in animal feed and agriculture.

Parts and Accessories: Essential for various industries, these components support manufacturing and maintenance operations.

Electrical Apparatus: These imports support the infrastructure and technological advancements in the country.

Philippines Top 10 Exports in 2024

The Philippines also boasts a diverse export portfolio. Here are the top 10 export products in 2024:

Electrical machines and gadgets: USD 38.07 million

Mechanical items, boilers, and nuclear reactors: USD 9.45 million

Articles made from copper: USD 2.58 million

Optical and medical items: USD 2.20 million

Ores, slag, and ash: USD 1.98 million

Fruits, nuts, and melons: USD 1.91 million

Animal and vegetable fats and oils: USD 1.49 million

Plastic articles: USD 1.26 million

Automobiles: USD 1.17 million

Gold, diamonds, and silver: USD 1.13 million

Conclusion

The Philippines top 10 imports offers an intriguing glimpse into a growing nation's needs and economic activities. From essential electronics to life-saving medications, the country's import requirements highlight its ongoing development and global market integration. For more detailed and updated information on the Philippines' top imports, import data, and trade statistics, businesses can consult reliable sources like Eximpedia.app.

By understanding the complexity of global trade and following the necessary regulations, businesses can effectively navigate the import process and capitalize on the opportunities within the Philippine market.

Contact Eximpedia.app for comprehensive insights and support in navigating the import-export landscape of the Philippines.

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Philippines Import export data | Global import export data provider

In the Philippines trade market, many ports are playing a major part in Global import export data shipping activities. Our AI System collects all the required trade data and customized it in a good manner so that clients who want to access the Philippines shipment data of 2021 access it easily. Philippines textile exports to Australia picks pace. You can check out the sample of the Philippines Import-export data by clicking the link - https://eximtradedata.com/philippines-import-export-data

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Philippines Import Export data | Philippines import export data of eggs

Our AI system always keeps strict eyes on all the shipment activity and updates our database on a daily basis so that the clients stay up-to-date with the latest trends and technologies. We are providing the Philippines Import-export data in a properly customized manner. Philippines begin exporting eggs to Taiwan. You can click on the below link and check the sample import export data of the Philippines.  https://eximtradedata.com/philippines-import-export-data

More information about Philippines trade deficit widened further in FY 2023 : https://globalimportexportdataprovider.blogspot.com/2023/07/philippines-trade-deficit-widened.html

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Export Data Philippines

By consulting PhilippinesImportData Solutions, one can easily get Export Data Philippines. This is an intelligence business report that helps importers and exporters to take progressive and workable decisions for the business. The Exim data of the Philippines is based on shipping bills, invoices, bills of lading, export bills, and import bills.

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Philippines import-export data | global import export data

Exim Trade Data is the most trusted global Import-export data provider company in the world. They are providing the Philippines Import-export data which helps us in building strong trade relationships and creating a strong brand image in the Philippine market. You can get access to sample data by clicking the below link - https://eximtradedata.com/philippines-import-export-data

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Export Data Philippines

A lot of other benefits have associated with Export Data Philippines then you can get after taking data from PhilippinesImportData. The details in the data are fetched from trusted organizations such as customs departments, ports, etc. The shipment data of the Philippines covers complete information about the major Philippines importers and exporters along with their trade partners, mode of shipment, product description, HS code, etc.

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Philippines Import Data

Are you interested in starting an import and export business with the Philippines? But, you do not have enough information about this data? If yes, then invest in the Philippines Import Data report. PhilippinesImportData Solutions provides 100% genuine trade data information and shipping records.

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Philippines Import Data

Any marketer or trader who is looking for the most reliable and authentic source of getting Philippines Import Data report should get in touch with PhilippinesImportData. We are one of the premier companies available online that delivers Import Export Data and Global Trade Data to more than 70 nations.

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Philippines Customs Data

Get accurate Philippines Customs Data and trade data by countries' hs codes, buyers, and suppliers. Visit PhilippinesImportData for Philippines shipments trade data. According to the Philippines Custom Database, the main imports of the country are electronic products, mineral fuels, and transport equipment.

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Philippines Import Data

PhilippinesImportData provides well-researched Philippines Import Data based on current transactions, invoices, bills of lading, and customs and shipping details. Get detailed market insights with accurate Philippines Trade Data.

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Philippines Import Data Solutions is an import export data providing company that provides direct access to Philippines Import Data at very reasonable prices. The import data report of the Philippines helps in getting records about importing activities held in the Philippines. It will grow your business all around the world even without putting in the extra effort. This one keeps you informed regarding the latest market trends, import and export movements of the products, and current scenarios. For more information, visit the link below.

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Philippines Import-export data | Utilize India import export data for philippines market

We are providing the Global import export data. In the trade sector, we are offering every small to big data of Philippines import-export. So that you can build strong relationships and expand your business in the Philippines trade market. Users can also access the sample of the Philippines Import-export data by clicking the below link. Explore Philippines Semiconductors & Electronics Goods Exports Market Through Global import export data. Overcome Chips Shortage By Finding Verified Electronics Suppliers From The Philippines.   -  https://eximtradedata.com/philippines-import-export-dataMore information about Philippines Electronics Exports Increase by 5% in FY23 : https://importexportdatank.blogspot.com/2023/05/philippines-electronics-exports.html