Export Commodities in

the Philippines
INTRODUCTION

An export commodity is a substance or good that is produced in one country and then shipped to another country
for distribution and sale. Exporting commodities allows a nation to earn foreign exchange, increase its income,
and diversify its economy.
The Philippines is a major exporter of agricultural products, such as coconut oil, bananas, pineapples, and
sugar. In 2021, the country’s agricultural export revenue went up to USD 6.79 billion, accounting for 9.1 percent of
the total export of the country. The Philippines is also a leading exporter of electronic products, which accounted
for 58.5 percent of the total export in December 2021.

The Philippines has surfaced as a crucial player in the global export market, thanks to its different range of
products and industries. With a long history of transnational marketable efforts, the Philippines is a significant
exporter of goods in international trade. The Philippines is an important contributor to the ASEAN's (Association of
Southeast Asian Nations) trade and investment environment. However, analyzing the Philippines' export data for
2022 is pivotal to making informed opinions and tapping into new business openings If you're a global dealer or
investor. According to the Philippines export data, the Philippines exported goods worth a total of $78 billion in
2022. Exports of goods from the Philippines increased by 5.77% from 2021 to 2022. The value of goods exported
from the Philippines increased by $4.3 billion in 2022 (it was $74 billion in 2021).
Agricultural Products
Rice
Coconut
Coffee
Banana
Mango
Pineapple
Sugar
Electronics and Semiconductors

Export Commodities Electronic Components Semiconductor Devices

Electronics and semiconductors The Philippines exports various The country also exports
are significant export commodities electronic components, including semiconductor devices, such as
in the Philippines. integrated circuits, printed circuit microprocessors, memory chips, and
boards, and electronic connectors. power transistors.
 Minerals
Minerals, such as copper, gold, and nickel, are important export commodities in the Philippines.
Automotive Parts and Components

Engines Tires Electrical Parts

The Philippines exports various Automotive tires manufactured in the The Philippines is a major exporter
types of engines for automotive Philippines are exported to various of automotive electrical parts and
applications. countries. components.
Garments and Textiles
Garments and textiles are popular export commodities in the Philippines. This includes
products such as clothing, fabrics, and accessories.

Piña Fabric

Unique to the Philippines, piña is an

extraordinary textile made by weaving the
fibers of the leaves of the pineapple plant.
Garments and Textiles (Accessories)

ArteFino’s banig slip-ons from Liliw Bambike’s bamboo sunglasses with

ArteFino’s pineapple bag in collab
polarized lenses
with Zarah Juan
Canned Goods Processed Food and Beverages
The Philippines exports a variety of
canned goods, including fruits, vegetables,
and seafood.

Snacks
Processed snack products, such as chips,
cookies, and candies, are also exported
from the Philippines.

Beverages
The Philippines is known for its export of
beverages, including juices, soft drinks,
and coffee.
Processed Food and Beverages

• Snacks export shipments from Philippines

stood at 9.6K, exported by 228 Philippines
Exporters to 816 Buyers.

• Canned food export shipments from

Philippines stood at 570, exported by 45
Philippines Exporters to 71 Buyers.
Philippines exports most of it's Canned food to
United States, Kuwait and Vietnam.
Furniture and
Home Furnishings

Wooden Furniture
The Philippines exports a wide range of wooden furniture, including
tables, chairs, cabinets, and bed frames.
Furniture and
Home Furnishings

Home Décor
The country also exports various
home decor items such as decorative
vases, wall art, and sculptures.
TOBACCO
Philippines exported $150M in Raw Tobacco, making it
the 19th largest exporter of Raw Tobacco in the world.
At the same year, Raw Tobacco was the 80th most
exported product in Philippines. The main destination of
Raw Tobacco exports from Philippines are: Burma
($27.5M), Dominican Republic ($21.3M), Indonesia
($20.3M), Spain ($15.4M), and South Korea ($9.11M).
The fastest growing export markets for Raw Tobacco of
Philippines between 2020 and 2021 were Indonesia
($9.69M), Russia ($5.81M), and Burma ($2.36M).
These export categories accounted
for 82.8% of the total value of
Filipino global shipments in 2022.
The fastest growing export category
was animal or vegetable fats, oils
and waxes, which increased by
47.3% from 2021 to 2022.

The Philippines’ main export

partners in 2022 were China, the
United States, Japan, Hong Kong,
and Singapore, which together
received 72.1% of the total Filipino
exports.
 1. Sales from export posted a negative growth
The country’s total export sales in February 2023 amounted to USD 5.08 billion, reflecting a faster decrease at an
annual rate of -18.1 percent from a decrement of -13.1 percent in the previous month. In February 2022, the total
export sales grew at an annual rate of 15.7 percent.

The commodity group with the highest annual decline in the value of exports in February 2023 was electronic
products, which dropped by USD -765.48 million. This was followed by coconut oil, which decreased by
USD156.54million; and other mineral products by USD -126.51 million.
 A. TOTAL EXTERNAL TRADE AND BALANCE OF TRADE

1. Total external trade decreased

In February 2023, the country’s total external trade in goods amounted to USD 14.03 billion, which indicates an annual decline
of -14.4 percent from its level in the same period of the previous year. In January 2023, its annual decrease was recorded at -2.2
percent, while in February 2022, it expanded at an annual rate of 22.1 percent. Of the total external trade in February 2023, 63.8
percent were imported goods, while the rest were exported goods.

2. Trade deficit posted an annual decline

The balance of trade in goods (BoT-G) is the difference between the value of export and import. The BoT-G in February 2023
amounted to USD -3.88 billion, indicating a trade deficit with an annual decrease of -2.7 percent. In January 2023, the trade
deficit recorded an annual growth of 27.1 percent and in February 2022, it posted an annual increase of 47.2 percent.
COVID-19 has had a significant impact on Philippine’s trade, both in terms of
exports and imports. According to the World Bank, the lockdown policies
implemented by the Philippines and its trading partners led to a 7% and 57%
monthly average drop in export and import values respectively in 2020. The decline
in imports was mainly driven by the disruption of global value chains, especially for
intermediate goods. The decline in exports was mostly due to the reduced demand
for non-essential products. However, some sectors, such as electronic products,
which accounted for 58.5% of the total exports in December 20211, showed
resilience and growth potential. The Philippine Statistics Authority reported that the
country’s total merchandise trade dropped by 15% in 20202, but recovered by
25.4% in December 2021
THANK YOU!!!
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 References

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Miller, S. (2023, December 14). What are export commodities? Smart Capital Mind. https://www.smartcapitalmind.com/what-are-export-commodities.htm