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Philippines Trade Buddies Surplus or Deficit 2015

December 16, 2017 by Danny Santiago

Philippines Trade Buddies Surplus or Deficit 2015
Courtesy of FreeUSandWorldMaps.com
On a one-year basis, the Philippines recorded a disappointing report card in international trade. Filipino export sales fell in value by -5.1% from 2014 to 2015, while import spending grew by 3.6%. Even worse, the East Asian island country’s overall trade deficit almost doubled from US$5.9 billion during 2014 to $11.5 billion for 2015.

But here’s some good news: international trade trend lines over a five-year time horizon are all positive for the Philippines. Filipino exports rose in value by almost a quarter (22.1%) from $48 billion during 2011 to $58.6 billion in 2015.

And while import spending did increase by 10.2%, the total trade deficit for the Philippines shrank by more than a quarter (-26.3%) during the most recent five-year time span.

Philippines Trade Buddies: Surplus

The following searchable table shows that the Philippines earned surpluses with 119 of the 206 trade partners with which exports and imports were exchanged during 2015.

RankTrade PartnerSurplus 2015% Change from 2011
1) Japan$5.6 billionup 203.8%
2) Hong Kong$4.3 billionup 105.7%
3) Netherlands$1.4 billiondown -3.6%
4) United States$1.2 billionup 647.6%
5) Liberia$564.6 millionup 784,135%
6) Mexico$348.5 millionup 20.1%
7) Marshall Islands$244.8 millionup 82.8%
8) Malta$244.2 millionup 3,085%
9) Hungary$167.7 millionup 4.8%
10) Canada$161.6 millionup 38,652%
11) Cyprus$116.3 millionup 8,542%
12) South Africa$87 milliondown -12,859%
13) United Kingdom$66.9 milliondown -28.4%
14) Panama$50.7 milliondown -22.2%
15) Germany$44.9 milliondown -80.2%
16) Iran$42.7 milliondown -105.6%
17) North Korea$42.4 millionup 113.1%
18) Romania$42.1 millionup 301.4%
19) Poland$29.7 milliondown -18.6%
20) Austria$25.8 milliondown -310.1%
21) US Minor Outlying Islands$18.4 milliondown -11.2%
22) Czech Republic$17.2 milliondown -65.4%
23) Laos$15.4 millionup 2,910%
24) Portugal$15 millionup 31.3%
25) Myanmar (Burma)$14 milliondown -318.5%
26) Lebanon$8.6 millionup 26.3%
27) Colombia$7.6 millionup 332.8%
28) Tunisia$7.3 millionup 148.6%
29) Egypt$7.2 milliondown -165.1%
30) Costa Rica$6.5 milliondown -76.9%
31) Dominican Republic$6.4 milliondown -174.4%
32) Algeria$6.3 millionup 517.3%
33) Pakistan$5.6 milliondown -114.3%
34) British Virgin Islands$5.6 milliondown -5,084%
35) Micronesia$5.5 millionup 20.2%
36) Afghanistan$5.2 millionup 62.1%
37) Luxembourg$5.1 millionup 52.7%
38) Peru$4.7 milliondown -103.9%
39) Iraq$4.6 millionup 4,438%
40) Brunei Darussalam$4.5 milliondown -1,706%
41) Morocco$4 millionup 12.7%
42) Estonia$3.8 millionup 82.2%
43) Macao$3.7 milliondown -77.6%
44) Ghana$3.7 milliondown -74.8%
45) Sri Lanka$3.5 milliondown -72.6%
46) Slovakia$3.4 milliondown -2.2%
47) Cameroon$3 millionup 266.3%
48) Sudan (North + South)$2.9 millionup 0.8%
49) Venezuela$2.8 milliondown -47.9%
50) Yemen$2.8 milliondown -58.7%
51) Miscellaneous Oceania$2.7 milliondown -13,630%
52) Bahrain$2.7 milliondown -145.1%
53) French Polynesia$2.6 millionup 131.3%
54) Palau$2.5 milliondown -28%
55) New Caledonia$2.4 millionup 109.9%
56) Northern Mariana Is$2 millionup 267.3%
57) Ethiopia$1.8 millionup 157.9%
58) Libya$1.5 millionup 1,385%
59) Nepal$1.5 millionup 1,803%
60) Somalia$1.3 millionup 772.7%
61) Andorra$1.2 millionup 741.8%
62) Maldives$1.2 millionup 18.8%
63) Netherlands Antilles$1.2 millionup 1647.8%
64) El Salvador$1.2 millionup 74.7%
65) Uzbekistan$1.2 millionup 438.3%
66) Bahamas$936,000down -37.5%
67) Djibouti$902,000up 36%
68) Uganda$880,000up 110%
69) Mongolia$875,000up 10.1%
70) Bolivia$818,000down -3,130%
71) Côte d'Ivoire$749,000down -54.1%
72) Samoa$705,000up 7.1%
73) Timor-Leste$657,000up 169.3%
74) Trinidad/Tobago$532,000down -30.6%
75) Serbia$458,000up 392.5%
76) Senegal$409,000down -55.8%
77) Tonga$387,000up 74.3%
78) Rwanda$344,000up 116.4%
79) Suriname$340,000up 33,900%
80) Kazakhstan$331,000down -61.9%
81) Benin$287,000up 617.5%
82) Aruba$263,000up 24.1%
83) Syria$253,000down -49.6%
84) Haiti$215,000down -47.2%
85) Latvia$203,000down -84.4%
86) Togo$180,000down -101.2%
87) Madagascar$172,000down -97.5%
88) Botswana$152,000down -86.7%
89) Seychelles$146,000down -77.7%
90) Fiji$145,000down -89.5%
91) Niger$145,000down -71.4%
92) Guinea$119,000down -95.8%
93) Azerbaijan$100,000down -82.8%
94) Georgia$97,000down -88.6%
95) Barbados$85,000down -40.6%
96) Bermuda$74,000down -62.8%
97) Tuvalu$68,000up 172%
98) Sierra Leone$62,000up 63.2%
99) Antigua/Barbuda$56,000down -35.6%
100) Gambia$50,000down -52.4%
101) Bhutan$29,000down -3,000%
102) Burkina Faso$29,000down -323.1%
103) Macedonia$28,000down -94.6%
104) Central African Republic$26,000down -71.1%
105) Burundi$24,000down -94.1%
106) Cook Islands$14,000down -81.1%
107) St Vincent/Grenadines$12,000down -83.3%
108) Guinea-Bissau$11,000down -97.1%
109) Cuba$11,000down -101.4%
110) Tajikistan$10,000down -95.5%
111) Armenia$9,000down -83.9%
112) Nauru$6,000down -81.3%
113) Cabo Verde$6,000no change
114) Albania$4,000down -98%
115) Mauritania$2,000down -95.8%
116) Br Indian Ocean Territories$1,000down -88.9%
117) Equatorial Guinea$1,000down -200%
118) Gibraltar$1,000down -66.7%
119) Turkmenistan$1,000down -94.7%

Among its top 10 surpluses by country, the Philippines showed competitive advantages against all three North American countries: United States ($1.2 billion surplus), Mexico ($348.5 billion) and Canada ($161.6 billion).

The fastest-growing Filipino trade surpluses were gained at the expense of Liberia (up 784,135%), Canada (up 38,652%), Suriname (up 33,900%), Cyprus (up 8,542%) and Iraq (up 4,438%).

Philippines Trade Buddies: Deficit

The Philippines did sustain deficits with 87 of its total 206 trade partners, some significant in size.

RankTrade PartnerDeficit 2015% Change from 2011
1) China-$5.1 billionup 1,164%
2) Taiwan-$3.3 billionup 38.3%
3) Indonesia-$2.5 billionup 28%
4) Thailand-$2.2 billionup 24.9%
5) Malaysia-$2.1 billionup 25.9%
6) South Korea-$2 billiondown -16.6%
7) Saudi Arabia-$1.8 billiondown -44.4%
8) Singapore-$1.2 billionup 42%
9) India-$906.3 millionup 190.1%
10) Kuwait-$727.5 millionup 13,765%
11) France-$676.4 millionup 101.8%
12) Vietnam-$546.1 millionup 182%
13) Australia-$394 milliondown -48.2%
14) Qatar-$380.6 millionup 23.1%
15) New Zealand-$341.6 milliondown -31.7%
16) Russia-$277.7 milliondown -81.5%
17) Italy-$263.8 millionup 885.6%
18) United Arab Emirates-$194.7 milliondown -87.4%
19) Brazil-$192.1 millionup 59.6%
20) Finland-$160.5 millionup 1,286%
21) Spain-$157.3 millionup 98.5%
22) Argentina-$150.2 milliondown -41.2%
23) Ukraine-$136.2 millionup 3,898%
24) Papua New Guinea-$107.3 milliondown -52%
25) Belgium-$106.3 milliondown -405.3%
26) Ireland-$96.1 milliondown -58.3%
27) Turkey-$76.8 millionup 153.7%
28) Uruguay-$75.4 millionup 86.2%
29) Denmark-$69.1 millionup 32.1%
30) Israel-$60.6 milliondown -46.8%
31) Norway-$40.5 milliondown -26.9%
32) Switzerland-$33.8 millionup 70.1%
33) Sweden-$31.4 milliondown -54.9%
34) Bulgaria-$14.2 milliondown -48.1%
35) Bangladesh-$10.8 milliondown -130.2%
36) Belarus-$8.9 millionup 43.5%
37) Montenegro-$6.9 millionup 33.1%
38) Cambodia-$6 milliondown -170.1%
39) Solomon Islands-$5.3 milliondown -72.2%
40) Chile-$5.1 milliondown -90.6%
41) Kenya-$4.8 milliondown -334.3%
42) Congo-$4.7 milliondown -725.8%
43) Paraguay-$4.4 milliondown -6,228%
44) Zambia-$3.6 millionup 192.6%
45) Jordan-$3.4 milliondown -86.6%
46) Slovenia-$3.4 millionup 57.7%
47) Malawi-$3.3 milliondown -68.9%
48) Nigeria-$3 milliondown -158.6%
49) Kiribati-$2.8 milliondown -1,569%
50) Tanzania-$2.7 milliondown -214.3%
51) Jamaica-$1.9 milliondown -438.2%
52) Mozambique-$1.6 milliondown -64%
53) Zimbabwe-$1.6 millionup 47.7%
54) Croatia-$1.5 milliondown -241.6%
55) Cayman Islands-$1.4 milliondown -1,139%
56) Oman-$1.3 milliondown -105.9%
57) Lithuania-$1.2 milliondown -54.4%
58) Honduras-$1.2 milliondown -157.7%
59) Moldova-$958,000up 599.3%
60) Bosnia/Herzegovina-$918,000down -137.7%
61) Greece-$656,000down -106.1%
62) Mauritius-$651,000down -144.6%
63) Kyrgyzstan-$519,000up 18.2%
64) Angola-$507,000down -177.1%
65) Vanuatu-$372,000down -91.5%
66) Ecuador-$328,000down -181%
67) Swaziland-$316,000down -302.6%
68) Norfolk Island-$267,000down -240.5%
69) Turks/Caicos Islands-$203,000down -3,483%
70) Gabon-$172,000down -107.4%
71) French South Antarctic-$151,000down -587.1%
72) Nicaragua-$127,000down -146.9%
73) Grenada-$125,000down -12,600%
74) Faroe Islands-$113,000up 5,550%
75) Christmas Islands-$104,000down -842.9%
76) Greenland-$103,000down -10,400%
77) Anguilla-$96,000down -9,700%
78) Lesotho-$61,000up 48.8%
79) Eritrea-$59,000down -6,000%
80) Chad-$58,000down -2,033%
81) Iceland-$58,000down -112.9%
82) Belize-$42,000down -147.7%
83) Miscellaneous Areas-$41,000down -1,125%
84) Guatemala-$33,000down -101.6%
85) Mali-$22,000down -100.5%
86) Sao Tome/Principe-$11,000down -119.3%
87) Namibia-$2,000down -100.4%

Among its top 10 deficits by country, the Philippines demonstrated significant competitive disadvantages particularly versus its South East Asian neighbors and Saudi Arabia by racking up billion-dollar trade debts.

The fastest-growing Filipino trade deficits were inflicted by Kuwait (up 13,766%), Faroe Islands (up 5,550%), Ukraine (up 3,898%), Finland (up 1,286%) and China (up 1,164%).

Resources
The World Factbook, East & Southeast Asia: Philippines, Central Intelligence Agency. Accessed on April 22, 2016

Trade Map, International Trade Centre. Accessed on April 22, 2016

TablePress, WordPress Plugin, Tobias Bäthge

Royalty free clip art maps provided by www.freeusandworldmaps.com

Filed Under: International Trade

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