What did the US trade with the Philippines?

What did the US trade with the Philippines?

Key U.S. exports to the Philippines are agriculture goods, machinery, cereals, raw and semi-processed materials for the manufacture of semiconductors, electronics, and transport equipment. The two countries have a bilateral Trade and Investment Framework Agreement, signed in 1989, and a tax treaty.

What does the US export to the Philippines?

Leading services exports from the U.S. to Philippines were in the professional and management services, intellectual property (franchises and trademarks), and financial services sectors. Philippines was the United States’ 30th largest supplier of goods imports in 2020.

What is the current agricultural export of the Philippines?

Banana remained as the leading agricultural export commodity in 2019. Its export volume of 4.40 million metric tons posted a 40.9 percent increment and the corresponding value at PhP 101.18 billion expanded by 39.0 percent. The 2019 share of banana to the total agricultural export earnings went up to 29.3 percent.

Does Philippines import agricultural products?

In 2021, imports of cereals into the Philippines amounted to approximately 3.15 billion U.S. dollars, making it the leading agricultural import.

Why was America interested in the Philippines?

Americans who advocated annexation evinced a variety of motivations: desire for commercial opportunities in Asia, concern that the Filipinos were incapable of self-rule, and fear that if the United States did not take control of the islands, another power (such as Germany or Japan) might do so.

What are the most exported products from the Philippines?

Top 10

• Electrical machinery, equipment: US$31.7 billion (49.7% of total exports)
• Machinery including computers: $9.5 billion (14.9%)
• Fruits, nuts: $2.3 billion (3.6%)
• Optical, technical, medical apparatus: $1.8 billion (2.8%)
• Ores, slag, ash: $1.7 billion (2.7%)
• Copper: $1.7 billion (2.7%)

Does Philippine import or export more?

Popular Indicators – Most Recent Values Philippines services export is 41,264,018,636.13 in BoP, current US$ and services import is 28,224,651,933.72 in Bop, current US$. Philippines exports of goods and services as percentage of GDP is 28.38% and imports of goods and services as percentage of GDP is 40.46%.

What is the current agricultural export status of the Philippines 2021?

In 2021, the total value of agricultural exports from the Philippines amounted to approximately 6.8 billion U.S. dollars. Among commodity groups, edible fruits and nuts were the leading agricultural exports from the country in that year.

What is the current agricultural export status of the Philippines 2020?

The country’s earnings from the exports of agricultural commodities in 2020 summed up to PhP 307.63 billion, recording a decline of -11.0 percent from 2019. Agricultural exports accounted for 9.5 percent of the total export revenues.

Do Philippines export agricultural products?

The economy is expected to partially recover in 2021 with an estimated 5.5% GDP growth. The Philippines is the ninth largest export market of U.S. agricultural products, remaining resilient in 2020 and reaching a record $3.2 billion.

What did the US gain from Philippines?

Apart from guaranteeing the independence of Cuba, the treaty also forced Spain to cede Guam and Puerto Rico to the United States. Spain also agreed to sell the Philippines to the United States for the sum of $20 million. The U.S. Senate ratified the treaty on February 6, 1899, by a margin of only one vote.