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The economy of the Philippines is an emerging market, and considered as a newly industrialized country in the Asia-Pacific region. [30] In 2025, the Philippine economy is estimated to be at ₱29.66 trillion ($507.6 billion), making it the world's 31st largest by nominal GDP and 11th largest in Asia according to the International Monetary Fund.
Service exports refer to the cross-border sale or supply of services by residents of one country to residents of another country. Some countries have significantly high export figures relative to their economy's size (i.e. Netherlands, Singapore and UAE) due to their high amount of re-exports .
The tenth largest ASEAN trading partners with their total trade (sum of imports and exports) in billions of US Dollars for calendar year 2021. In the table, a positive trade balance means that the ASEAN exports more than it imports from the given country.
By 2021, rice production in the Philippines reached 20.0 million metric tons (MMT), a 3.5% increase from 2020, despite rice imports rising to 2.9 MMT. The RTL has significantly influenced the management of inflation in the rice sector since its implementation and serves as an approach for potential reforms in the agricultural sector of the ...
This is the list of countries by trade-to-GDP ratio, i.e. the sum of exports and imports of goods and services, divided by gross domestic product, expressed as a percentage, based on the data published by World Bank. The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1.
Agriculture in the Philippines is a major sector of the economy, ranking third among the sectors in 2022 behind only Services and Industry. Its outputs include staples like rice and corn, but also export crops such as coffee , cavendish banana , pineapple and pineapple products, coconut , sugar , and mango . [ 1 ]
In 2021, the Department of Trade and Industry has enacted laws on import safeguards on automobiles in a bid to protect the domestic automobile business. This was made as a response to the petition filed by Philippine Metal Workers Alliance asking for safeguard measures against the dominance of fully imported automobiles versus locally assembled ...
Country Imports (millions of $) . Year United States 3,375,948 2022 European Union [n 1] 2,743,745 [3]: 2022 China 2,706,601 2022 Germany 1,571,057 2022 Japan 898,099 ...