Philippines trade Data - Tradeimex.in

  Top 10 Import Products of The Philippines The Philippines is an island country of the world, also known as the archipelago as it consists of numerous islands and surrounded by water bodies from almost all directions.   IMPORT EXPORT    Feb 27, 2023     0    1  Add to Reading List THE PHILIPPINES – SOUTHEAST ASIAN ISLAND NATION OF THE WORLD The Philippines is one of the  island countries  of the world also known as the archipelago as it consists of numerous islands and the whole territory is surrounded by water bodies from almost all directions. The western part of the Pacific Ocean is majorly occupied by the Philippines. The economy of the country was initially run by the agricultural sector and later in the years the 1950s and 1970s, manufacturing also started to grow and flourish across the nation. As of now, the agriculture sector has a  one-fourth stake  in the total GDP of the Philippines. If we talk about the agreements and contributions of the nation in various trade deals, th

  Diplomatic relations were first held between the Philippines and Turkey way back on 13 th June 1949. Since then, there is no turning back and year after year, the trade relations between countries are getting stronger and long-lasting. Many ceremonies and conferences are held between the nations to celebrate different events and benchmarks achieved by both countries due to their efforts. Recently a defense pact is signed by both nations to make the trade of defense items easier and smoother which mainly includes weapons, ammunition, machinery, and missiles. WHAT WAS EXPORTED FROM THE PHILIPPINES TO TURKEY IN 2023? Based on the details obtained from the Philippines Export Data of some past years, it is very well known that exports from the Philippines to Turkey in the year 2019, 2020, and 2021 were USD 54.03 million, USD 52.39 million, and USD 47.07 million respectively. Although the total exports are declining from the Philippines to Turkey, but at the same time, these exports

  HOW STRONG IS THE RELATIONSHIP BETWEEN THE PHILIPPINES AND TURKEY’S TRADE? Peaceful and diplomatic relations were first started on 13 th June 1949 between the Philippines and Turkey on a very positive note. Within a few years, the Embassy of Turkey was established in Manila on 17 th October 1990, and in 1991, the embassy of the Philippines was set up in Ankara. Recently, in the year 2019, to mark the 70 years of their relationship, both countries celebrated the 70 th anniversary of their ongoing bilateral trade partnership. Since 1949, the trade relations between both countries are getting stronger and wider. Numerous various products and commodities are transported from one country to another. In order to take trade relations to the next level, Turkey and the Philippines signed a memorandum of understanding on Defense Industry cooperation. By signing this memorandum, both countries can now trade defense items, arms, and ammunition smoothly without any barriers. As a resul

  THE PET AND ANIMAL FOOD MARKET OF THE PHILIPPINES IS ALL SET TO RISE IN THE COMING YEARS ABSTRACT The Philippines is one of those nations on the Asian continent that has the highest ownership rates of pet animals like dogs and cats. Due to this trait of the country, the demand for pet food also rises every year in the country and the same is going to happen this year too. In the past five years, the demand for US pet food is rising several folds. In the year 2021, the Philippines Import Data recorded imports of pet food worth USD 51 million only from the United States. The total domestic sales of pet food in the Philippines were USD 434 million in the year 2021 and are projected to grow by 9% in 2023. The main animal products include both, dry and wet pet food, treats, and mixtures. In the upcoming year 2023, the domestic sales of pet food will reach USD 434 million. Dry dog food is the most popular type of pet food that is in demand in the nation as it is affordable and con

  Based on the Vietnam Trade Data report for the year 2022, we learned that Vietnam had a profitable business with the United States compared to China. By comparing, we saw that Vietnam had a trade deficit with China worth USD 60.2 billion in the year 2022 which has undoubtedly widened from USD 54 billion in 2021. On the other hand, international trade with the United States resulted in a positive trade balance for Vietnam which was worth USD 94.9 billion. This has happened as the exports from Vietnam to the US, as per Vietnam Export Data grew in the following categories: ·         Garments and textiles ·         Footwear ·         Mobile phones ·         Electronic gadgets ·         Furniture and wooden items VIETNAM AND THE UNITED STATES – STRONG BONDING IN PROGRESS Vietnam is the biggest export market to the US. The exports from Vietnam to the US as per Vietnam Export Data grew by 13.5% reaching USD 109.4 billion in the year 2022. Due to this growth, the trade sur

 Philippines Export Data and Philippines Trade Data provider  In general, the trade deficit is a condition under which the country faces a reduction in its exports and an increase in imports. In simple terms, the trade deficit is when a country spends more on procuring goods from other nations than selling its own produce to them. When this situation arises, it is deemed that the nation is not able to satisfy the demands of its citizens effectively or it’s supply is not able to match the demand of the population. A similar situation is persisting in the Philippines for a long time now. The situation got worse when this trade deficit or trade imbalance grew in the year 2022. In the year 2022, as per the Philippines Trade Data for that period, the trade deficit grew by almost 38% amounting to USD 58.3 billion. In 2021 this value was near USD 42.2 billion. The value of 2022 becomes scarier when it is compared to the value of 2020 which was just USD 24.6 billion. If we believe the sta