THE RISE OF DIPLOMATIC RELATIONS BETWEEN FRANCE AND THE PHILIPPINES – BILATERAL TRADE STATISTICS

1. THE RISE OF DIPLOMATIC RELATIONS BETWEEN FRANCE AND THE PHILIPPINES – BILATERAL TRADE STATISTICS MUTUAL BONDING BETWEEN FRANCE AND THE PHILIPPINES France and the Philippines are two nations that are situated geographically opposite to each other as France is situated on the Western side of the European continent whereas, the Philippines is located in the east Asian part of the continent. It was the year 1947 when both countries successfully signed a treaty of Amity and got into their first-ever diplomatic relations. The friendly relations between the two started in the age of exploration itself. It was people of French who were responsible to bring Christianity as a religion to the

2. Philippines. The first bilateral trade that happened between the two was in a way like France exported stockings, muslin, and umbrellas to the Philippines and in return took indigo from the Philippines. There are very cordial relations between both countries as there is no place for conflict that could arise between the two. Moreover, France is considered one of the largest trading partners of the Philippines in the EU and is positioned in the 4th place after Germany, the Netherlands, and the United Kingdom. Till the year 2014, the trade between the two climbed up to USD 2.40 billion which was more than 24% as compared to the year 2013. TOP IMPORTS BY THE PHILIPPINES FROM FRANCE AS PER THE PHILIPPINES IMPORT DATA 2022 According to the latest reports for the year 2022, the Philippines Import Data with regard to France shows that the Philippines Imported goods worth USD 962.68 million. Multiple products were bought by the Philippines to fulfill the demands of its citizens. Amongst all, the top 6 products that are mentioned in the Philippines Import data 2022 are as follows: Aircraft and their spare parts (USD 297.26 million) Medical products (USD 137.25 million) Non-veg items like meat and pork (USD 101.15 million) Electrical machinery and their parts (USD 58.17 million) Machinery, reactors, and boilers (USD 47.05 million) Dairy products such as eggs, butter, and honey (USD 43.23 million) Apart from these top 6 products, other primary items imported by the country as per the Philippines Import Data for the year 2022 were plastic products, beverages, leather items, and ships. TOP EXPORTS BY THE PHILIPPINES TO FRANCE AS PER PHILIPPINES EXPORT DATA 2022 Just like imports, in order to maintain its trade balance with France, the Philippines exported its domestically produced items and products to France in 2022 which were worth USD 1.34 billion. So as per the Philippines Export Data 2022, the top 6 exports from the country to France were as follows:

3. Electric machines (USD 751.34 million) Mechanical appliances (USD 189.87 million) Optical and precision tools (USD 117.01 million) Furniture and bedding (USD 39.16 million) Beautification products (USD 29.97 million) Animal and vegetable fats (USD 24.96 million) Footwear (USD 18.39 million) Apart from these top 6 products, other primary items exported from the country as per the Philippines Export Data for the year 2022 were clothing, toys, clocks, and rubber products. LAST 5 YEARS’ TREND OF THE PHILIPPINES TRADE DATA Now we will analyze the value of Imports and Exports that happened to and from the Philippines with France. According to the Philippines Trade Data for the years 2018-2022, the insights are as follows: PHILIPPINES TRADE DATA WITH FRANCE (2018-2022) IMPORTS TO PH USD 1.38 billion USD 1.28 billion USD 566.86 million USD 877.76 million USD 962.68 million This is an equally balanced table as of now as in the initial 2 years (2018 & 2019), France was enjoying a trade surplus but after 2019, from 2020 till 2022, the Philippines is having a trade surplus which is rising every year. Also, the surplus is rising for the Philippines every year. The traders of France should start focusing on this now as longer trade deficits affect economic health negatively. YEAR 2018 2019 2020 2021 2022 EXPORTS FROM PH USD 1.36 billion USD 1.20 billion USD 867.56 million USD 1.12 billion USD 1.34 billion REMARKS Trade Deficit Trade Deficit Trade Surplus Trade Surplus Trade Surplus CONCLUSION It’s been 70+ years since the countries came into bilateral trade relations and since then till now no such big problem has crept in between the trade practices of these nations. As the relations between both countries are also strong enough, as per our assumption any marketer or trader can target the other country’s market. CONTACT US TODAY FOR MORE…

4. Assuming you need further examination and the best counsel about the Philippines Import Data or the Philippines Trade Data or the Global Trade Data of any nation, then reach out to TradeImeX® Info Solution Pvt Ltd. We deal in selling only the correct and authentic trade databases with utmost accuracy and precision that too at affordable rates. To stay updated with the latest market trends and insights, keep visiting our website and reading our blogs. For any issue, drop us a message at our email id info@tradeimex.in. https://tradeimex1.hashnode.dev/the-rise-of-diplomatic- Source relations-between-france-and-the-philippines-bilateral-trade-statistics Url:-