Market Profile

The Philippines remains a bright spot in the region and is expected to continue to outpace the economic growth of its Association of Southeast Asian Nations (ASEAN) neighbours into 2016 (Source: Competitiveness: Sustainable and inclusive growth The Philippines, Deloitte, June 2015). The International Monetary Fund (IMF) raised the gross domestic product (GDP) growth forecast to 6.4 per cent for 2016 and 6.7 per cent for 2017.

Foreign Direct Investment (FDI) to the Philippines reached A$7.8 billion in 2015 (two per cent of GDP). The manufacturing sector has been the leading recipient, including food processing, as well as the banking and business process outsourcing (BPO) sectors.

Over A$2.1 billion of foreign aid from multi-lateral development banks (MDB) and international donor agencies (IDA) flow into the Philippines, largely into infrastructure, education and capacity building programs (Source: Foreign Aid Transparency Hub).

Bilateral trade between the Philippines and Australia in 2015 was valued at A$4.2 billion and has grown 50 per cent since 2010 (Source: Composition of Trade 2014-15).

The Austrade office in the Philippines is also responsible for Guam and Micronesia.

More information on doing business in the Philippines

Why ASEAN and why now?

Why ASEAN and why now? Insights for Australian Business. A joint Austrade-DFAT publication examining Australia’s trade relationship with the Association of Southeast Asian Nations (ASEAN), the opportunities and challenges for Australian business engaging with the region and the future of the Australia-ASEAN trade relationship.

Access the publication

Facts

  • Imports from the Philippines A$1,618 million
  • Exports to the Philippines A$2,400 million
  • Capital Manila
  • Official Languages Filipino (Tagalog), English
  • Area 298,170 sq km
  • Population 102.2 million

Events

ASEAN Borderless Skills Partnership Mission to Malaysia and Philippines 2017
10 Jul 2017
Express your interest in this upcoming mission which will broadly explore collaborations in Healthca ...

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Country information provided by DFAT

Country brief

A comprehensive overview of political, economic and bilateral and regional trade agreements.

» read more at DFAT

Trade and economic fact sheet

Containing general information, recent economic indicators, Australia’s trade and investment relationship with Philippines and their global merchandise trade relationship that is updated twice a year.

» read more at DFAT

 

Australia's trade at a glanceAustralia's top ten trading partners

Smartraveller

The Department of Foreign Affairs and Trade’s Smartraveller site provides advice for business travelers and tourists going to Philippines. This is regularly updated and should be checked before planning travel.

» read more at DFAT

Business risks

Bribery of Foreign Officials

Extractive Industries Transparency Initiative

The Extractive Industries Transparency Initiative (EITI) is a voluntary mechanism which promotes and supports improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.

The EITI is supported by governments, industry, and non-government organisations around the world. The Australian Government supports the EITI and encourages Australian companies operating internationally to comply with its recommendations.

OECD Guidelines for Multinational Enterprises

Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government.

APEC Business Travel Card Scheme

Managed by the Department of Immigration, the APEC Business Travel Card Scheme was developed to make travelling within the 21 APEC member countries much simpler and more efficient.

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