International crude oil suppliers shipped US$5.2 billion worth of unrefined petroleum to the Philippines during 2018. The dollar total for 2018 represents an -18.6% decline from the $6.3 billion paid by crude oil importers in the Philippines during 2014. However, Filipino spending on imported unprocessed petroleum spiked in cost by 47.8% from 2017 to 2018. Among continents, … [Read more...]
Philippines Rice Imports by Country
Considering its growing population of 105.9 million people at July 2018, there are a lot of mouths to feed in the Philippine homeland. Rice is an important food item to help satisfy that hunger. Filipino rice imports by country cost a total US$736.6 million from 9 rice-supplying trade partners during 2018. The value of rice imported into the Philippines expanded by 65.1% … [Read more...]
Philippines Top Precious Metals and Gems Sales
The Philippines exported US$1.5 billion worth of precious metals and gems on international markets in 2018, well in excess of the $256.9 million spend by Filipino importers on those same commodities. Gold is the most lucrative precious metal exported from the Philippines. Total Filipino gold exports were valued at US$1.2 billion in 2018. That dollar amount is about 10 times … [Read more...]
Philippines Trade Buddies Surplus or Deficit 2015
On a one-year basis, the Philippines recorded a disappointing report card in international trade. Filipino export sales fell in value by -5.1% from 2014 to 2015, while import spending grew by 3.6%. Even worse, the East Asian island country’s overall trade deficit almost doubled from US$5.9 billion during 2014 to $11.5 billion for 2015. But here’s some good news: international … [Read more...]
Philippines Top 15 Trade Surpluses by Product
The Philippines recorded an overall trade deficit of -US$11.5 billion during 2015, a 26.5% improvement from the -$15.7 billion Filipino deficit in 2011. But not all products that the Philippines buys and sells on global markets result in more money flowing out of the island country for import purchases from foreign suppliers than flow in as exports revenues from international … [Read more...]