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Philippines Merchandise Trade 2014 – 2018

PH Merchandise Trade (in US$M) 2014-2018 with the UK

  2014 2015 2016 2017 2018
Exports 460.73 499.59 501.06 522.21 534.89
Imports 385.62 398.66 509.18 521.61 685.10
Total Trade 846.35 898.25 1,010.24 1,043.81 1,219.99
Balance of Trade 75.11 100.93 (8.12) 0.60 (150.21)

Sources: DTI-Tradeline Philippines[1]


• The compounded annual growth rate (CAGR) of the PH merchandise for the total trade to the UK from 2014 to 2018 is at 9.6%. During the same period, the CAGR for import is 15.5%; whilst for export is at 3.8%.

• The top 5 PH exports over the past five years are: a) electronic products (↑7.6%); b) machinery and transport equipment (↓ 11.1%); c) other manufactures (↑ 9.2%); d) tuna (↑ 12.8%); and e) processed food and beverages (↑ 13.4). 2

• Meanwhile, the top 5 imports in 2018 are: a) optical, photographic, measuring or surgical instruments and apparatus; b) miscellaneous manufactured articles; c) furniture, bedding, mattresses; d) toys, games and sports requisites; and e) commodities and transactions not classified elsewhere.3

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PBBC Meeting September 2019 – EODB

PBBC meeting

The PBBC met in London on 24th September 2019 and amongst other topics they had a presentation on the recently enabled law on the “Ease of Doing Business” in the Philippines.

The presentation was given by Beatriz Alexandra G. Martinez, Third Secretary, Vice Consul, and Administrative Officer, Embassy of the Philippines, London.

The key slides from the presentation are presented below.

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British Business Delegation To The Philippines

The British Business Delegation To The Philippines will take place during 23 – 28 February 2020.

The PBBC are delighted to be working with the British Embassy, British Chamber of Commerce in Manila and the Makati Business Club, to offer U.K. companies this unique opportunity to do business or invest in the Philippines. Please put the dates in your diary and make contact early to secure your place on the Business Delegation.

Metro Manila

THIS EVENT IS MULTI-SECTOR AND OPEN FOR ALL

The British Business Delegation to the Philippines will include new and experienced exporters, investors, those looking to source from the market and those looking to outsource services to the Philippines. There is already strong, growing interest in tourism in the Philippines so anyone looking to increase tourism connections is also encouraged to apply. The delegation will be led by a senior and experienced PBBC Member from the UK with extensive experience of doing business in the Philippines.

Programme

The program for the delegation will include political, economic and sector briefings, business matchmaking events, site visits, business receptions and networking opportunities. One-to-one meetings can be added for a small additional fee. There will also be time for delegates to take the opportunity to explore the bustling city of Manila.

Travel & Hotel Package

The delegation will fly Philippine Air Lines (PAL) – the flag carrier of the Philippines (direct flight between London and Manila). The travel package cost will include flight, hotel accommodation for the duration of the visit and connections. 

The Philippines

The Philippines is one of the fastest growing global economies and has a rapidly expanding services industry. Economic growth has accelerated in recent years, averaging 6% GDP growth per year from 2011 to 2018 and is expected to expand at a solid pace through 2019/20 (Focus Economics). Now is the perfect time to explore the exciting business opportunities the Philippines has to offer.

More information

For more information and to sign up to the delegation please contact Melissa Dizon on 07741 654362 or by email at melissad@martellobc.co.uk www.facebook.com/britishbusinessdelegationphilippines2020

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Economic Performance Indicators – January 2019

ECONOMIC PERFORMANCE AND INDICATORS

Gross Domestic Product

• The Philippine economy remained one of the fastest growing in Asia, along with Vietnam and China. The PH Government is expecting a 6.5 percent GDP growth in 2018. The PH government will report on the 2018 GDP performance next week.

economic performance indicators
Inflation

• Inflation averaged 5.2 per cent last year, its quickest pace since the global financial crisis a decade ago.

Employment

• The annual employment rate in 2018 was estimated at 94.7 percent; annual unemployment rate was 5.3 percent.

• The total employed persons in the country in 2018 was approximately 41.2 million in 2018.

Budget (Revenues and Expenditure)

• In the first 11 months of 2018, the government’s budget balance swayed to a US $9.1 billion deficit, 96 percent higher than US $4.6 billion shortfall registered in the comparable period in 2017.

Foreign Direct Investment / Portfolio Investment

• FDI net inflows for the first ten months of 2018 reached US$8.5 billion, an increase of 1.8 percent from the US$8.4 billion net inflows in the comparable period in 2017. The government has projected overall FDI to hit $10.4 billion for the entire 2018.

Remittances

• Personal remittances from OFWs in January – November 2018 reached US$29.1 billion, 2.9 percent higher than the level posted a year ago.

• The bulk of cash remittances for the first eleven months of 2018 came from the US, Saudi Arabia, United Arab Emirates, Singapore, Japan, United Kingdom, Qatar, Canada, Germany, and Hong Kong. Cash remittances from these countries accounted for almost 79 percent of total cash remittances.

• Cash remittances from the UK to the Philippines increased by 9.2 per cent at US$1.3 billion from US$1.2 billion for the same period in 2017. UK remains the top source of overseas Filipino remittances in Europe, representing 35.6 % of the total remittances from the region.

Tourists

• International tourist arrivals in the first three quarters of 2018 reached 5.8 million travellers. Of these, 1.2 million are from South Korea and almost a million from China. On a national basis, South Korea provides 20 per cent of the tourists coming to the country.

• Arrivals of UK visitors have reached 163,000 visitors within the first three quarters of 2018 – this represents a 9.73 per cent increase from the same period in 2017.

• The UK visitors from the Philippines means the UK still ranks as the top visitor market for the Philippines in Europe.

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