Overview In February 2023, United States exported $699M and imported $967M from Philippines, resulting in a negative trade balance of $268M. Between February 2022 and February 2023 the exports of United States have increased by $6.55M (0.95%) from $692M to $699M, while imports decreased by $-131M (-12%) from $1.1B to $967M.
Trade In February 2023, the top exports of United States to Philippines were Integrated Circuits ($108M), Wheat ($81.8M), Soybean Meal ($59.1M), Oil Seed Flower ($57.4M), and Concentrated Milk ($40.6M). In February 2023 the top imports of United States from Philippines were Integrated Circuits ($102M), Office Machine Parts ($97.4M), Blank Audio Media ($95.4M), Computers ($92.7M), and Coconut Oil ($82.4M).
Origins In February 2023 the exports of United States were mainly from Washington ($180M), California ($117M), Texas ($97.9M), Illinois ($28.4M), and Oregon ($20.9M), while imports destinations were mainly California ($294M), Illinois ($68.4M), Texas ($66.9M), Georgia ($57.3M), and Washington ($39.7M).
Growth In February 2023, the increase in United States's year-by-year exports to Philippines was explained primarily by an increase in product exports in Soybean Meal ($47.1M or 390%), Vaccines, blood, antisera, toxins and cultures ($24.4M or 923%), and Concentrated Milk ($15.8M or 63.5%). In February 2023, the decrease in United States's year-by-year imports from Philippines was explained primarily by an decrease in product imports in Commodities not elsewhere specified ($-7.32M or -23.3%), Office Machine Parts ($-6.93M or -6.64%), and Other Office Machines ($-6.59M or -57.8%).