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

Philippines is currently our 31st largest goods trading partner with $18.2 billion in total (two way) goods trade during 2016. Goods exports totaled $8.2 billion; goods imports totaled $10.0 billion. The U.S. goods trade deficit with Philippines was $1.8 billion in 2016.

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

According to the Department of Commerce, U.S. exports of Goods and Services to 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

  • Philippines was the United States' 31st largest goods export market in 2016.

  • U.S. goods exports to Philippines in 2016 were $8.2 billion, up 3.8% ($298 million) from 2015 and up 7.7% from 2006.  

  • The top export categories (2-digit HS) in 2016 were: electrical machinery ($2.5 billion), machinery ($777 million), cereals (wheat) ($611 million), aircraft ($523 million), and miscellaneous grain, seeds, fruit (flour) ($483 million).

  • U.S. total exports of agricultural products to Philippines totaled $2.6 billion in 2016, our 11th largest agricultural export market. Leading domestic export categories include: soybean meal ($730 million), wheat ($592 million), dairy products ($227 million), soybeans ($104 million), and prepared food ($89 million).

  • U.S. exports of services to 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 Philippines were in the travel, intellectual property (trademarks, audio visual and related products), and financial services sectors.

Imports

  • Philippines was the United States' 29th largest supplier of goods imports in 2016.

  • U.S. goods imports from Philippines totaled $10.0 billion in 2016, down 1.8% ($189 million) from 2015, but up 3.6% from 2006.  

  • The top import categories (2-digit HS) in 2016 were: electrical machinery ($3.8 billion), machinery ($1.9 billion), knit apparel ($578 million), fats and oils (coconut, palm, babassu) ($498 million), and optical and medical instruments ($395 million).

  • U.S. total imports of agricultural products from Philippines totaled $1.1 billion in 2016, our 25th largest supplier of agricultural imports. Leading categories include: tropical oils ($498 million), processed fruit & vegetables ($185 million), tree nuts ($100 million), fruit & vegetable juices ($81 million), and raw beet & cane sugar ($71 million).

  • U.S. imports of services from 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 Philippines to the U.S. were in the travel, transportation, and telecommunications, computer, and information services sectors.

Trade Balance

  • The U.S. goods trade deficit with Philippines was $1.8 billion in 2016, a 20.9% decrease ($486 million) over 2015.

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

Investment

  • U.S. foreign direct investment (FDI) in Philippines (stock) was $5.9 billion in 2016, a 9.4% increase from 2015. U.S. direct investment in Philippines is led by manufacturing, nonbank holding companies, and wholesale trade.

  • Philippines's FDI in the United States (stock) was $1.4 billion in 2016, up 20.5% from 2015. The distribution of Philippines's FDI in the United States is not available.

  • Sales of services in 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.