Trade Policy and Regulations in the Philippines
Foreign Trade in Figures
During these two last decades, the Philippines' economy, which was relatively closed, has evidently opened up, partly due to its ASEAN (Association of South-East Asian Nations) membership. Its three main export partners are the United States, Japan and China. The main export commodities are electronic and electrical equipment, nuclear reactors and boilers, vehicles and clothing. Its three main import partners are the United States, Japan and Singapore. The main import commodities are electronics and electrical equipment, mineral fuels and oil, nuclear reactors and boilers, iron, steel and vehicles. Traditionally, the Philippines has a deficit trade balance; however, under the effects of the global crisis, its trade balance deficit was reduced (and even transformed into a positive balance during a few months) due to the fact of a high fall on imports followed by a fast revival of exports.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||54,078||57,996||60,420||45,878||58,250|
|Exports of Goods (million USD)||47,410||50,466||49,078||38,436||51,432|
|Imports of Services (million USD)||6,211||7,391||8,348||8,477||10,597|
|Exports of Services (million USD)||6,444||9,766||9,717||10,248||12,377|
|Imports of Goods and Services (Annual % Change)||2||-4||1||-2||-|
|Exports of Goods and Services (Annual % Change)||13||5||-2||-13||-|
|Trade Balance (million USD)||6,732||8,391||12,885||8,878||-|
|Current Account (million USD)||5,347||7,119||3,631||8,552||-|
|Foreign Trade (in % of GDP)||95||85||75||62||-|
|Imports of Goods and Services (in % of GDP)||48||42||38||31||-|
|Exports of Goods and Services (in % of GDP)||47||43||37||32||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|United Arab Emirates||0.6%|
|Other partnersClose extended list||40.4%|
(% of Imports)
|United Arab Emirates||1.8%|
|Other partnersClose extended list||51.2%|
- Main International Economic Cooperation
- Asia-Pacific Economic Council ( APEC), Asia Free Trade Agreement ( AFTA, free trade zone of the ASEAN), Asia Europe Meeting ( ASEM), Japan Philippines Economic Partnership Agreement ( JPEPA) and the ASEAN - China Free Trade Area.
- Assessment of Commercial Policy
- WTO, Philippines
- Average Customs Duty (Excluding Agricultural Products)
- Useful Resources
- National Organization of Intellectual Property
- The organisation responsible for the protection of intellectual property in the Philippines is the Intellectual Property Office of the Philippines.
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