Philippines Import Data
Philippines Import Data
The Philippines is considered to be an emerging business sector, and a recently industrialized country, which has an economy changing from being founded on horticulture to being founded more on administrations and assembling. Gross Domestic Product (GDP) was worth 361.49 billion US dollars in 2020, which was more than an 8.7% increase from the past several years. It is located in southeast Asia, with a population of 110.7 million with 700 islands lying about 800 km off the coast of Vietnam. Manilla is the capital of the Philippines, known to be the populous city in the country. It is 39th of rank in terms of the world economy (GDP) and 125 per capita, 39th in exports and 33 in imports. Its official currency is the Philippines peso, derived from the Spanish peso.
Relations with India
India and Filipinos established diplomatic relations with India in 1949, The Trade Agreement between the Philippines and India was endorsed on 29 May 1979. In 1995, following the main Philippine Trade Mission to India, a Joint Working Group and a Joint Business Council were set up to evaluate and distinguish possibilities for exchange just as recognize new regions for a coordinated effort. From that point forward, reciprocal gatherings have been held routinely. India is essential for the Regional Comprehensive Economic Partnership Negotiations (RCEP) which will likewise support and add to financial joining. The Agreement on Trade in Goods, which was signed on 13 August 2009, among India and ASEAN; and was completely executed in 2011, helped in an expansion in bilateral trade.
Total Import from the World
Below is the list of products that have been imported to the Philippines from all over the world
|Refined Petroleum||Coal Petroleum||Coal Briquettes||Wheat||Semi-finished iron|
|Integrated circuits||Cars||Broadcasting Equipments||Office machine parts||Planes, Helicopter, Aircrafts|
Top Importing Partners
Here’s the list of Top Trading Partners of the Philippines globally:
Top Importing Products from India
Here’s the list of the products Philippines Import from India -
|Vehicles other than railway, tramway||Mineral fuels, oils, distillation products||Pharmaceutical products||Machinery, nuclear reactors, boilers||Organic chemicals|
|Iron and steel||Meat and edible meat offal||Electrical, electronic equipment||Tobacco and manufactured tobacco substitutes||Miscellaneous chemical products|