Philippines
On this page you will find beneficial information regarding foreign direct investment in / trading with Philippines. If you are interested in exploring trade or investment possibilities in the country, feel free to contact the International Trade Council team. Additionally, we encourage you to engage with the official government investment agency featured on this page.
It is important to note that while the statistics presented on this page were understood to be accurate at the time of publication, they are subject to change over time. Please consult your ITC Trade Commissioner for up-to-date information.
Type of Government: Republic
Population: 113.9 million (2021)
GDP: 394.1 billion USD (2021)
Corporate Tax Rate: 25% - 35%
Personal Income Tax Rate: 15% - 20%
Major Exports: Integrated Circuits ($27.5B), Office Machine Parts ($11.1B), Insulated Wire ($3.05B), Electrical Transformers ($2.49B), and Semiconductor Devices ($2.44B), exporting mostly to China ($15.1B), United States ($13.3B), Japan ($11.5B), Hong Kong ($11.4B), and Singapore ($6.19B).
Major Imports: Integrated Circuits ($14B), Refined Petroleum ($9.04B), Office Machine Parts ($3.11B), Broadcasting Equipment ($2.84B), and Cars ($2.77B), importing mostly from China ($48.9B), Japan ($10.4B), South Korea ($9.23B), Indonesia ($9.21B), and United States ($8.16B).
Investment Agency: The Philippine Board of Investments (BOI)
Website: https://boi.gov.ph/
National Chamber of Commerce: Philippine Chamber of Commerce and Industry
Website: http://www.philippinechamber.com/
Customs Agency: Bureau of Customs (BOC)
Website: http://customs.gov.ph/
