Economic Relations 

On trade, the EU remains a major trade partner of the Philippines with the latter consistently enjoying a slight trade surplus. Per data from the National Statistics Office of the Philippines, the country’s exports to the European Union in 2011 and 2012 registered at US$ 5.95 billion and US$ 5.99 billion respectively.  On the other hand, its imports of products from the European Union covering the same period registered at US$ 4.45 billion and US$ 4.25 billion, respectively.

Major Philippine exports to the EU include coconut oil (crude); electronic micro-assemblies; semiconductor devices manufactured from materials on consignment basis; electrical and electronic machinery equipment, and parts manufactured from materials on consignment basis; and photosensitive semiconductor devices, including photovoltaic cells.

On the other hand, imports from the EU include materials, accessories and supplies for the manufacture of dice of any material; other materials, accessories, and supplies imported on consignment basis for the manufacture of semiconductor devices; aeroplanes and other aircrafts; other medicaments for therapeutic or prophylactic uses, for retail sale; and other digital monolithic integrated circuits.