National Economy:
|
GDP (billion US $)
|
393,6
|
Inflation Rate (%)
|
6,4
|
|
Real GDP Growth Rate (%)
|
5,6
|
Rate of Unemployment (%)
|
6,0
|
|
Population (million)
|
109,6
|
Export (fob-billion US $)
|
58,3
|
|
Population increase (%)
|
1,3
|
Import (fob-billion US $)
|
111
|
|
GDP per capita (US $)
|
3,806
|
Turkish firms in Philippines
|
3
|
(2020)
Major Trade Partners:
USA, China, Japan, Hong Kong, Singapore, Thailand, Netherlands, S. Korea,
Germany, Taiwan.
Major Export Items:
Digital integrated circuits, semiconductors, parts and components of
electrical machinery, storage units and devices, refined copper, ore,
charcoal, coconut products,
Major Import Items:
Petroleum oils and other oils obtained from bitumen, light petroleum oils,
electrical and electronic parts, parts and components of semiconductors,
monolithic integrated circuits, other metals, vaccines, parts of machinery
and devices, soybean oil products, wheat flour.
Bilateral Commercial and Economic Relations:
|
Türkiye's Export and Import with Philippines (million
$)
|
|
|
2018
|
2019
|
2020
|
2021
|
2022 January
|
|
Export
|
185.673
|
123.874
|
89,040
|
118,993
|
204,202
|
|
Import
|
127.546
|
137.609
|
48,478
|
46,567
|
268,048
|
|
Volume
|
313.219
|
261.483
|
137,158
|
165,560
|
472,250
|
|
Balance
|
+58.127
|
-13.735
|
+40,562
|
+72,426
|
-63,846
|
Major Exports to Philippines:
Defense export (helicopters/part and components), pharmaceutics, other
defense industry products, tobacco, poultry and meat products, fragrances,
electrical heaters, chemicals.
Major Imports from Philippines:
Coconut, electrical machines/devices, tropical fruits, textiles, charcoal.
The annual trade volume between Türkiye and the Philippines reached 137,1
million USD in 2020. While our trade volume was 165,5 million USD in 2021,
this number has been recorded as 472,2 million USD as of 2022 October, with
the delivery of the first and second batch of ATAK Helicopters.
According to the data of the Central Bank, no direct investment from
Philippines to Türkiye has been recorded.
The first meeting of the Joint Economic Commission (JEC) had been held on 6
February 2018 in Ankara. The second JEC meeting, which was planned to be
held in 2020, was postponed due to the Covid-19 pandemic. The said meeting
is planned to be carried out in the upcoming period depending on the
pandemic conditions.
The foundation agreement of Türkiye Philippines Business Council was signed
on 8 March 2011 in İstanbul. The last Business Council meeting was held in
Manila on 17-20 June 2019.
Moreover, the first Joint Working Group Meeting on Tourism Cooperation was
held in Manila on 23-26 October 2019.
Turkish Airlines and the Department of Tourism of the Republic of the
Philippines signed a MoU in Istanbul on 12 December 2019, in order to
promote the Turkish Airlines in the Philippines and increase the promotion
of its products and services.
TIKA, which has carried out various projects throughout the Philippines
since 2015, is also working on new projects. Moreover, AFAD and the Red
Crescent have provided humanitarian aid within the framework of disasters
that occurred in the country. Various humanitarian aids are being provided
to the country by different Turkish NGO’s as well.