Indonesia-Philippines Trade Reaches Record High in 2021

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Dzulfiqar Fathur Rahman 28/07/2022 18:10 WIB

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Indonesia and the Philippines' trade value reached US$9.87 billion in 2021, according to United Nations data. This is the highest record since 1989.

Indonesia-Philippines Trade Value (1989–2021)

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Indonesia-Philippines Trade Reaches Record High in 2021

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Indonesia-Philippines Trade Value (1989–2021)

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Trade in goods between Indonesia and the Philippines rebounded in 2021 from the slump caused by the Covid-19 pandemic.

According to UN Comtrade data, the value of trade between the two countries reached US$9.87 billion in 2021.

This figure grew by 52.12% (year-on-year/yoy) from the previous year, marking the highest record since 1989.

Indonesia-Philippines trade rebounded in line with the easing of Covid-19-related activity restrictions in each country. This trend is also consistent with the global trade rebound in 2021, despite ongoing supply chain disruptions.

In 2021, Indonesia exported goods to the Philippines worth US$8.6 billion, marking a 45.8% (yoy) growth from the previous year.

Imports of goods from the Philippines also grew by 115.07% (yoy) to US$1.27 billion in 2021. This import growth rate is the highest since at least 1989.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Indonesia-Philippines Trade Reaches Record High in 2021

Indonesia-Philippines Trade Reaches Record High in 2021

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