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03-11-2023
The Philippines is a Southeast Asian country with a diversified economy, and imports and exports play an important role in its economic activities.
Philippine imports in August 2023 were $10.8 billion.In 2022, Philippine merchandise imports totaled $145 billion. Compared to 2021, Philippine merchandise imports grew by 17.2%.
The latest Tendata iTrader data, based on the 2-digit HS code, the top 10 Philippine imports are:
- 85: Electrical machinery and equipment and parts thereof. Recorders and reproducers, television picture and sound recorders and reproducers, and parts and accessories of such items (22%, $32 billion)
- 27: Mineral fuels, mineral oils and their distillation products; bituminous substances; mineral waxes (17.6%, $25 billion)
- 84: Nuclear reactors, boilers, machinery and mechanical equipment; parts thereof (8.11%, $11.8 billion)
- 87: Vehicles other than railroad or tram vehicles and parts thereof (6.01%, $8.78 billion)
- 72: Iron and steel (3.58%, $5.23 billion)
- 39: Plastics and articles thereof (3.13%, $4.57 billion)
- 10: Cereals (2.96%, $4.32 billion)
- 90: Optical, photographic, cinematographic, measuring, inspection, precision, medical or surgical instruments and equipment; parts thereof and accessories thereof (2.08%, $3.04 billion)
- 23: Residues and wastes from the food industry; prepared animal feed (1.91%, $2.79 billion)
- 30: Pharmaceutical products (1.85%, $2.7 billion)
When you need to conduct a market analysis for your industry, you can search Tendata's import/export database for the latest Philippine importers by product name or 2-digit HS code. Below is a sample of the search for you (data as of September 2023)
Based on the more granular 4-digit HS code, the top 10 Philippine exports (sub-categorized) are:
- 8542 : Electronic integrated circuits and micro assemblies (11.8%, $17.2 billion)
- 2710 : Petroleum and oil from bituminous minerals, not crude oil (9.87%, $14.3 billion)
- 2701 : Coal (4.14%, $6.04 billion)
- 2709 : Petroleum and oil from bituminous minerals, crude oil (2.59%, $3.78 billion)
- 8703 : Automobiles and other motor vehicles (2.44%, $3.57 billion)
- 1001 : Wheat and meslin (1.77%, $2.58 billion)
- 8517 : Electrical equipment for cable telephones or cable telegraphy; videophones (1.73%, $2.53 billion)
- 8473 : Machine parts and accessories (1.48%, $2.17 billion)
- 8541 : Semiconductor devices (1.45%, $2.12 billion)
- 2304 : Oil Cake and Other Solid Residues from Soybean Oil Extraction Process (1.31%, US$1.91 billion)
When you need to look up potential Filipino customers for your product, you can search Tendata's import/export database for the most recent Filipino importers according to the 4-digit HS code. Below is a sample of the search for you (data as of September 2023)
The Philippines' main import partners are:
1. China (20%, 29 billion US$)
2. Indonesia (9.55%, 13.9 billion US$)
3. Japan (8.97%, 13 billion US$)
4. South Korea (8.72%, 12.7 billion US$)
5. United States (6.64%, 9.69 billion US$)
6. Singapore (5.79%, 8.46 billion US$)
7. Thailand (5.24%, 7.65 billion US$)
8. Malaysia (4.86%, 7.09 billion US$)
9. Vietnam (4.57%, 6.68 billion US$)
10. Hong Kong (3.27%, 4.77 billion US$)
When you want to find out if your country works with the Philippines, you can search Tendata's import/export database for the latest importers from the Philippines by country name. Below is a sample of the search for you (data as of September 2023)
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