With strategic location, skilled people, stable democratic development and a booming economy, Philippines is worth considering as an investment destination for foreign companies.
Top Exports from the Philippines
The Philippines produces high-quality export products which have earned the praise of even the most discriminating markets around the world, as well as awards from prestigious international competitions.
Among the numerous high-quality exports, ten (10) priority sectors or revenue streams have been identified, from which the Philippine government expects significant growth in the medium-term. These sectors were chosen for their inherent or proven competitiveness in the local and international markets.
- Electronic (processors, chips and hard drives)
- Top selling product in the country that accounts to 51% of its total exports
- Woodcrafts and furniture
- Agri-food products
- Philippines has been affirmed as one of the top agri-food suppliers in Asia after exploring markets in Halal products.
- PHL stands out as Asia’s most exciting food business destination being the 8th top fish producer, 5th canned tuna producer and top exporter of pineapple, banana and mango.
- It has aggressively increased expansion of retail chain operators especially in the hotel, restaurant and café sectors.
- Marine food products
- Coconut water and By-products
- Fish and shellfish products
- Aquaculture products accounted for 27% of the Philippine’s total food exports with tuna, milkfish, shrimps and prawns as its main products.
- Household items
- Clothing and fashion accessories
- Natural health products (malunggay extracts, virgin coconut oil, organic soap and natural fruit extracts)
- Processed food and drinks
Top Imports in the Philippines
Philippines main imports are the following:
- Mineral fuel, lubricants and related materials
- Electronic products
- Transport equipment
- Industrial machinery and equipment
- Cereals and cereal preparations
- Plastics in primary and non-primary forms
- Organic and inorganic chemicals
- Iron and steel
- Telecommunication equipment and electrical machinery
- Medicinal and pharmaceutical products
Interested in investing in the Philippines? Here are some key business links and guides that would provide you with helpful information in learning more about investment in the Philippines.
- Invest Philippines: A specially designed website by the Philippine Bureau of Investment (BoI) that caters the most up-to-date information about investment in the Philippines from the basic facts to steps on setting up business and planning a business visit in the country.
- Center for International Trade Expositions and Missions (CITEM): A trade organization established by the Philippine Department of Trade and Industry (DTI) that works on developing and nurturing globally competitive Philippine SMEs, exporters, designers and manufacturers by providing global trade platforms for Philippine export products, primarily in the design-driven home and fashion lifestyles sector and food industries.
- Explore Opportunities: How to Invest in the Philippines: A business guide, which is published by Isla Lipana and Co., the Philippine member firm of PricewaterhouseCoopers, which provides answers to commonly asked questions on how to engage business in the Philippines.
- Philippine Chamber of Commerce and Industry (PCCI): It serves as the voice of Philippine businesses in promoting and supporting the drive for globally competitive Philippine enterprises. It spearheads national and international networking through business matching, trade missions, and information sharing. It supports capability building for local chambers and industry associations.
For further information and assistance on guidelines in investing in the Philippines, interested investors/entrepreneurs may contact the following contact offices/persons:
Mr. JOHN PAUL IÑIGO
Trade and Commercial Attaché
(based in the Philippine Embassy in New Delhi, India)
Contact Number: +91 11 2410 5017
Philippine Trade Assistance Desks
DTI Call center (+632) 751 3330, (+63917) 834 3330
MSME Assistance (+632) 751 5096
Export Assistance (+632) 465 3300
Investment Assistance (+632) 895 8322