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Philippines

U.S.-Philippines Trade Facts

The United States and the Philippines have had a very close trade relationship for more than a hundred years. We meet regularly with the Philippines under the auspices of the 1989 bilateral Trade and Investment Framework Agreement (TIFA) to address outstanding bilateral issues and coordinate on regional and multilateral issues. Under the TIFA, the United States and the Philippines also have signed agreements on customs administration and trade facilitation protocol (2010), cooperation on stopping illegal transshipments of textiles and apparel (2006), and implementation of minimum access commitments by the Philippines (1998).  For information on upcoming U.S. meetings with the Philippines, see the Calendar of Events page. 

The Philippines has bilateral and regional FTAs with many countries across the Asia Pacific, including with Australia, New Zealand, India, Japan, China, and Korea, as well as with the 10-member Association of Southeast Asian Nations.  It is party to the 16-member Regional Comprehensive Economic Partnership negotiations, and is currently negotiating an FTA with the EU.

U.S. goods and services trade with the Philippines totaled an estimated $27.0 billion in 2016 (latest data available). Exports were $10.8 billion; imports were $16.2 billion. The U.S. goods and services trade deficit with the Philippines was $5.4 billion in 2016.

The Philippines is currently our 31st largest goods trading partner with $20.1 billion in total (two way) goods trade during 2017. Goods exports totaled $8.5 billion; goods imports totaled $11.6 billion. The U.S. goods trade deficit with the Philippines was $3.2 billion in 2017.

Trade in services with the Philippines totaled an estimated $8.8 billion in 2016 (latest data available). Services exports totaled $2.6 billion; services imports totaled $6.1 billion. The U.S. services trade deficit with the Philippines was $3.5 billion in 2016.

According to the Department of Commerce, U.S. exports of Goods and Services to the Philippines supported an estimated 58 thousand jobs in 2015 (latest data available) (42 thousand supported by goods exports and 16 thousand supported by services exports).

Exports

  • The Philippines was the United States' 31st largest goods export market in 2017.

  • U.S. goods exports to the Philippines in 2017 were $8.5 billion, up 3.1% ($252 million) from 2016 and up 9.6% from 2007.  

  • The top export categories (2-digit HS) in 2017 were: electrical machinery ($2.7 billion), machinery ($709 million), cereals (wheat) ($573 million), aircraft ($520 million), and food waste, animal feed ($482 million).

  • U.S. total exports of agricultural products to the Philippines totaled $2.6 billion in 2017. Leading domestic export categories include: soybean meal ($748 million), wheat ($555 million), dairy products ($243 million), pork & pork products ($98 million), and soybeans ($92 million).

  • U.S. exports of services to the Philippines were an estimated $2.6 billion in 2016 6.2% ($154 million) more than 2015, and 66.1% greater than 2006 levels.  Leading services exports from the U.S. to the Philippines were in the travel, intellectual property (trademarks, audio visual and related products), and financial services sectors.

Imports

  • The Philippines was the United States' 29th largest supplier of goods imports in 2017.

  • U.S. goods imports from the Philippines totaled $11.6 billion in 2017, up 15.8% ($1.6 billion) from 2016, and up 23.6% from 2007.  

  • The top import categories (2-digit HS) in 2017 were: electrical machinery ($4.1 billion), machinery ($3.0 billion), animal or vegetable fats and oils (coconut, palm, babassu) ($556 million), knit apparel ($493 million), and optical and medical instruments ($428 million).

  • U.S. total imports of agricultural products from the Philippines totaled $1.2 billion in 2017. Leading categories include: tropical oils ($555 million), processed fruit & vegetables ($199 million), tree nuts ($109 million), raw beet & cane sugar ($105 million), and fruit & vegetable juices ($79 million).

  • U.S. imports of services from the Philippines were an estimated $6.1 billion in 2016, 11.7% ($646 million) more than 2015, and 245% greater than 2006 levels. Leading services imports from the Philippines to the U.S. were in the travel, transport, and telecommunications, computer, and information services sectors.

Trade Balance

  • The U.S. goods trade deficit with the Philippines was $3.2 billion in 2017, a 72.2% increase ($1.3 billion) over 2016.

  • The United States has a services trade deficit of an estimated $3.5 billion with the Philippines in 2016 (latest data available), down 23.0% from 2015.

Investment

  • U.S. foreign direct investment (FDI) in the Philippines (stock) was $7.1 billion in 2017, a 12.5% increase from 2016. U.S. direct investment in the Philippines is led by manufacturing, wholesale trade, and professional, scientific, and technical services.

  • Philippines FDI in the United States (stock) was $750 million in 2017, up 1.4% from 2016.

  • Sales of services in the Philippines by majority U.S.-owned affiliates were $3.9 billion in 2015 (latest data available), while sales of services in the United States by majority Philippines-owned firms were $47 million.