Philippines
U.S. Trade with Philippines in 2024
Export Market Rank
#9 Among U.S. Agricultural Export Markets
Total Export Value
$3.5 Billion
3-Year Average
$3.72 Billion
Compound Average Growth
3.6% (2015-2024)
Total Export Value 2015 - 2024
Export Value by Commodity 2024
Top 10 Exports to Philippines in 2024
| Commodity | Total Value (USD) | Total Volume (Metric Tons) | 10-Year Average Value (USD) | 10-Year Growth |
|---|---|---|---|---|
| Soybean Meal | $1.01 Billion | 2.47 Million | $895.59 Million | 59% |
| Wheat | $735.71 Million | 2.7 Million | $711.88 Million | 43% |
| Dairy Products | $364.98 Million | 139,291 | $338.61 Million | 48% |
| Poultry Meat & Prods. (excl. eggs) | $194.07 Million | 169,226 | $125.37 Million | 186% |
| Ethanol (non-bev.) | $146.6 Million | --- | $100.6 Million | 8% |
| Beef & Beef Products | $131.9 Million | 15,668 | $86.64 Million | 107% |
| Pork & Pork Products | $120.81 Million | 60,261 | $114.98 Million | 52% |
| Processed Vegetables | $118.58 Million | 61,303 | $102.59 Million | 34% |
| Food Preparations | $81.91 Million | 11,852 | $86.38 Million | 21% |
| Other Feeds, Meals & Fodders | $63.82 Million | 98,551 | $68.45 Million | 57% |
Data and Analysis
FAS Manila forecasts marketing year (MY) 2026 raw sugar production to remain flat at 1.85 million metric tons (MT). Ample rainfall during the planting season which started in October supported sugarcane planting among farms with no irrigation.
FAS Manila forecasts soybean meal imports in Marketing Year (MY) 2025/26 to increase by 3.1 percent to 3.35 million metric tons (MMT) compared to the previous MY, due to an increase in local feed demand from the broiler, layer, aquaculture, and pet food industries, along with the forecast gradual rebound of the swine industry.
Attaché Report (GAIN)
Philippines: Annual Increase in Excise Tax for Alcohol Products at a Fixed Rate - Update
The Philippine excise tax for alcohol products increased by six percent on January 1, 2025, and will continue to increase at a fixed rate of six percent annually, as stipulated in the law, which does not include a sunset provision.
News and Features
Private exporters reported sales of 135,000 MT of soybean cake and meal for delivery to the Philippines during MY 2024/2025.
Private exporters reported sales to China, Philippines and unknown destinations during MY 2024/2025.
Private exporters reported the following sales activities for MY 2024/2025: 30,000 MT of soybean oil for delivery to India, 261,264 MT of soybeans for delivery to Mexico, 135,000 MT of soybean cake and meal for delivery to the Philippines.