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The largest import and export merchandise trade partners for most countries of the world are listed below. Details for the European Union, Hong Kong and Macau are also included. In most cases the data relates to 2021 rankings. Data was extracted from the World Trade Organization's Trade Profile Database. [1] [2]
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.
Largest consumer markets; Leading trade partners; ... Philippines: 145,889 ... List of countries by leading trade partners;
Saudi Arabia was also the Philippines' largest trading partner and import supplier, and second largest export market in the Middle East. According to the Saudi government, trade between Saudi Arabia and the Philippines amounted to $3.6 billion in 2011, a bigger figure compared to the previous year's trade figure amounting to $2.7 billion. [6] [7]
The European Union and the Philippines share diplomatic, economic, cultural and political relations. The European Union has provided millions of euros to the Philippines to fight poverty and counter-terrorism against terrorist groups in the Southern Philippines. The European Union is also the third largest trading partner of the Philippines.
Sweden was ranked as the Philippines' 43rd largest trading partner, with the total amount of bilateral trade reaching more than US$143.40 million. [ 6 ] [ 3 ] [ 7 ] In 2021, the Swedish multinational conglomerate IKEA opened its largest store in Manila.
[1] [2] China is the Philippines' top trading partner. [3] However, average trust view of Filipinos towards China is negative. [ 4 ] Relations deteriorated during the presidency of Bongbong Marcos due to increasing tensions over the South China sea dispute, [ 5 ] culminating in the Philippines' withdrawal from the Belt and Road initiative in 2023.
Bangladesh imported goods worth US$78.22 million and imported goods from the Philippines worth 19.32 million 2013-2014 fiscal year. [9] Bangladesh is the third largest trading partner of the Philippines in South Asia. [10] In February 2016, US$81 million was stolen from Bangladesh Bank and was laundered through a bank in the Philippines.