Imports and Exports in the Philippines

The Philippines is currently the largest importer of rice in the world, importing around 1.8 million tons of rice in 2008 (World Rice Statistics). Three main factors explain why the Philippines imports rice: Land area: The Philippines has around 300,000 square kilometers, of which around 43,000 square kilometers of harvested area are used for rice production. As most of the country is very mountainous and consists of many small islands, suitable land is limited to expand rice production into without affecting wetlands, forests, or areas producing other crops. Urban areas also continue to expand rapidly.

Population growth: The population of the Philippines is estimated at 97 million. Its annual growth rate of around 2% – among the world’s highest – means that just to keep pace with growing demand the country would have to increase rice production and yield at rates rarely seen in history. Infrastructure: Irrigation infrastructure is not used and maintained as efficiently as it could be, thus reducing productivity potential. Transport infrastructure, particularly good-quality roads, is lacking in the Philippines, which affects the transport of rice and hinders the rice trade. Top 5 Products imported by The Philippines

Integrated Circuits (13%), Crude Petroleum (9.3%), Refined Petroleum (6.8%), Office Machine Parts (3.6%), and Cars (2.9%) Top 5 Import origins of The Philippines
China (13%), Japan (11%), United States (10%), South Korea (8.9%), and Other Asia (6.7%)

EXPORT
Top 5 Export destinations of The Philippines
China (23%), Japan (13%), United States (12%), Hong Kong (9.8%), and Singapore (5.4%) Top 5 Products exported by The Philippines
Integrated Circuits (23%), Computers (10%), Semiconductor Devices (4.7%), Office Machine Parts (3.5%), and Electrical Transformers (3.0%)

The Philippines is the top exporter of Sulfides(37%), Lead Bars(43%), Felt Hats(99%), Fulminates(87%), Vacuum Flasks Glass Inners(73%), Sponges(98%), and Copper Springs(94%).

Coconut Oil
Although challenged by biofuel’s high local demands and experienced a significant drop, coconut oil remains to be at the top in the list of export products in the Philippines. They already have a rich database of individuals who continue to advance to trend of export of coconut products. Gold

Even before Yamashita treasure days, the Philippine islands’ have been known for having substantial deposits of gold and other minerals. Northern Luzon, Masbate, Mindanao and the Negros Islands are some of the more prominent sources. Dried Fish and Shellfish

Dried fish and other fish products are also another source of Philippine export products. The archipelago boasts of numerous bodies of water which make it a biodiversity hotspot filled with fishing areas.

Metal Components
Textile machineries, grinding machines, steel structures, cylinders and many others comprise the metal components being exported from the Philippines. The Philippines is quite known for specialization on these metal components that other countries do not have the manpower to do. The closure of Japanese magwheel firms also helped shift the attention of acquisition to Asian countries such as the Philippines. Household Items, Woodcrafts and Furniture

The globe continues to rely on the Philippines for woodcrafts and furniture. The proliferation of products made from Acacia wood and narra are all part of the Philippine heritage and make for a unique part of one’s home or office. Fashion Accessories

Topping the list of fashion accessories is the Rags2Riches bags produced by the women of Payatas slum area in Quezon City. But this is not to be snubbed as the bags were designed by no less than Rajo Laurel. Fashion accessories are quite in trend and many people looking for the fresh and unique in fashion tend to look for export products from many countries, including the Philippines. Petroleum Products

Despite rumoured lack of product inventory, topping the list of Philippine exports are still the petroleum products. Electric Apparatus
High or low voltage electric apparatus are also exported by the Philippines to other countries. Over 50% of the export industry is anchored on the electric apparatus and semiconductors industry arm.

Semiconductors
Design in wafer, publication and testing continues to be lucrative export industries for Filipinos. The semiconductors never run out of use in this highly technological world. Though there may be some issues in environmental standards, these are optimistically being worked out to strike the balance between profit and environment friendliness. Computer Accessories

The influx of stores online and offline has helped enhance the numbers of the Philippine export of computer accessories. Its reputation as a fast growing shipment since its boom in 2008 has helped it become a very reliable export source for the Philippines. The Philippine export and import includes more of agricultural products. These are what make the country popular in the export marketing.

GROUP MEMBERS

Paraico, Paulo P.
Pedilla, John Paolo R.
Permejo, Paul John B.
Dela Cruz, Sly Paul G.
Laredo, Carl Stephen Ymari E.