Philippines

Philippines ranked No. 32 in total trade value through June with a total of $8.82 billion. Exports totaled $3.83 billion and Imports totaled $4.99 billion, a deficit of $1.16 billion.

U.S. trade with Philippines rose to $8.82 billion through June

Philippines’s trade with the United States rose to $8.82 billion through the first six months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 16.04 percent below its total trade during the same time period last year. U.S. exports to Philippines decreased 11.02 percent while U.S. imports from Philippines fell 19.52 percent. The U.S. deficit with Philippines was $1.16 billion.

Through June, the top five among the nation’s airports, seaports and border crossings were No. 1 Port of Los Angeles; No. 2 Los Angeles International Airport; No. 3 Anchorage International Airport, Alaska; No. 4 Port of Long Beach; and No. 5 Chicago O’Hare International Airport. During the same period the previous year, the top five were No. 1 Port of Los Angeles; No. 2 Anchorage International Airport, Alaska; No. 3 Los Angeles International Airport; No. 4 Port of Long Beach and No. 5 San Francisco International Airport, Calif.. In the current time period, the top five accounted for 44.77 percent of Philippines’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port of Los Angeles fell 28.19 percent to $1.35 billion.
    Exports fell 23.64 percent to $256.01 million. Imports fell 29.18 percent to $1.09 billion.
  • Trade with No. 2 Los Angeles International Airport rose 5.81 percent to $868.56 million.
    Exports fell 24.95 percent to $152.03 million. Imports rose 15.89 percent to $716.53 million.
  • Trade with No. 3 Anchorage International Airport, Alaska fell 39.62 percent to $807 million.
    Exports fell 25.8 percent to $249.89 million. Imports fell 44.27 percent to $557.11 million.
  • Trade with No. 4 Port of Long Beach fell 19.19 percent to $465.7 million.
    Exports fell 3.78 percent to $244.84 million. Imports fell 31.37 percent to $220.86 million.
  • Trade with No. 5 Chicago O’Hare International Airport rose 3.09 percent to $460.77 million.
    Exports rose 2.46 percent to $205.1 million. Imports rose 3.61 percent to $255.68 million.

Philippines ranked No. 32 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 31.

Meanwhile, total U.S. trade with the world increased to $1.77 trillion, down 57.4 percent compared to the same period last year. The nation’s exports dropped 58.23 percent to $687.16 billion; imports dropped 56.85 percent to $1.08 trillion. The nation’s top five countries so far this year, by value, are Canada; Mexico; China; Japan and Germany. The overall trade deficit was $391.01 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Philippines by value through June were the categories of Computer chips; Wheat; Flour, meal of oil seed, olea fruit; Milk and cream, concentrated or sweetened; and Cell phones, related equipment, respectively. They accounted for 43.57 percent of total exports to Philippines.

The value of the top five categories of U.S. imports from Philippines –– Computer parts; Computer chips; Digital storage devices; Computers; and Insulated wire, cable –– accounted for 41.02 percent of all inbound shipments.

Looking more closely at U.S. exports to Philippines:

  • Computer chips fell 30.55 percent compared to last year to $629.17 million.
  • Wheat rose 21.35 percent compared to last year to $417.55 million.
  • Flour, meal of oil seed, olea fruit rose 4.84 percent compared to last year to $347.03 million.
  • Milk and cream, concentrated or sweetened rose 74.74 percent compared to last year to $138.93 million.
  • Cell phones, related equipment fell 4.4 percent compared to last year to $137.41 million.

Looking more closely at U.S. imports from Philippines:

  • Computer parts fell 18.43 percent compared to last year to $717.81 million.
  • Computer chips fell 27.98 percent compared to last year to $451.93 million.
  • Digital storage devices rose 32.02 percent compared to last year to $328.83 million.
  • Computers rose 1.82 percent compared to last year to $309.19 million.
  • Insulated wire, cable fell 31.2 percent compared to last year to $238.79 million.

In the latest annual figures available, Philippines recorded $21.44 billion in trade with the United States. Total U.S. exports to Philippines were $ 8.66 billion and imports from Philippines were $12.78 billion. The U.S. deficit with Philippines was $4.12 billion.