Top 10 Philippine import sources, 2010

Units in US$ billion, and percentage share:

TOTAL IMPORTS (2010) 54,932.92    100.0

1. Japan   6,744.36      12.3

2. USA   5,886.66      10.7

3. Singapore   5,187.00        9.4

4. China   4,627.56        8.4

5. S. Korea   3,832.94        7.0

6. Thailand   3,870.78        7.0

7. Taiwan   3,675.90        6.7

8. Malaysia   2,514.66        4.6

9. Saudi Arabia   2,406.90        4.4

10. Indonesia   2,294.93        4.2

* Viet nam   1,607.68        2.9

Others 12,283.55      22.4

source: NSO, www.census.gov.ph

There is a diversified sources of Philippine imports, and this too, is a good thing. Any economic or natural calamity in one country will not affect much the Philippines as the country’s importers can possibly source their needs from other countries. The combined share of the top 5 import sources was only 47.8 percent, less than half of total imports. Up to 10 years ago or more, this ratio would perhaps be around 60 percent or higher.

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