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Soft Commodities Trader
Due to increased sales, a soft commodity trader required a receivables purchase facility for one of their large customers - purchased from Africa and sold to the US.
Metals Trader
Purchasing commodities from Africa, the US, and Europe and selling to Europe, a metals trader required a receivables finance facility for a book of their receivables/customers.
Energy Trading Group
An energy group, selling mainly into Europe, desired a receivables purchase facility to discount names, where they had increased sales and concentration.
Clothing company
Rather than waiting 90 days until payment was made, the company wanted to pay suppliers on the day that the title to goods transferred to them, meaning it could expand its range of suppliers and receive supplier discounts.
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Exporting to Philippines
Philippines Country Profile
Official Name (Local Language) Republika ng Pilipinas
Capital Manila
Population 102,624,209
Currency Philippine Peso
GDP $311.7 billion
Languages English; Filipino
Phone Dial In 63
Philippines Imports Profile
Imports ($m USD) 101,889
Number of Import Products 4,354,35
Number of Import Partners 193
Philippines Economic Statistics
Government Website | https://op-proper.gov.ph/ |
| Sovereign Ratings | https://countryeconomy.com/ratings/philippines |
| Central Bank | Bangko Sentral ng Pilipinas |
| Currency USD Exchange Rate | 47.08 |
| Unemployment Rate | 5.5% |
| Population below poverty line | 21.6% |
| Inflation Rate | 1.8% |
| Prime Lending Rate | 3.56% |
| GDP | $311.7 billion |
| GDP Pro Capita (PPP) | $7,700 |
| Currency Name | Philippine Peso |
| Currency Code | PHP |
| World Bank Classification | Lower Middle Income |
| Competitive Industrial Performance | 57/138 |
| Corruption Perceptions Index | 111/180 |
| Ease of Doing Business | 124/190 |
| Enabling Trade Index | 82/136 |
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The Philippines is the 12th most populated country in the world thus in order to satisfy the needs of its people, the country imports electronic products, machinery, iron and steel, grains and plastic items. It also ranks as the 41st country with the high importations. The following are the country’s top imports namely: the integrated circuits with about $11.6 billion, crude petroleum with $6.12 billion), refine petroleum for $5.29 billion, $2.39 billion for cars whine the spacecraft, helicopters and planes comprise around $2.33 billion.
The country obtains much of its import commodities from China (13%), Japan (12%), the United States (12%) and Singapore (9%). The Philippines’ estimated imports could reached $72.9 billion.
Exporting to Philippines: What is trade finance?
The country’s total value of exports reached to $50.7 billion which is composed primarily of integrated circuits ($19 billion), computers ($6 billion), machine parts ($3.1 billion) and electrical transformers ($2.2 billion).
These items are then shipped to the Philippines’ major export partners, such as the United States which received 17.6% of the total exports, Japan following with 16.2%, then by the Netherlands with 9.8%.
Chart Showing GDP Growth Compared to rest of world
GDP Composition for Philippines
Agriculture
9.7%
Rice, fish, livestock, poultry, bananas, coconut/copra, corn, sugarcane, mangoes, pineapple, cassava
Industry
30.8%
Semiconductors and electronics assembly, food and beverage manufacturing, construction, electric/gas/water supply, chemical products, radio/television/communications equipment and apparatus, petroleum and fuel, textile and garments, non-metallic minerals,
Services
59.5%
Other business services Computer and information services Travel Transportation Communications services Cultural and recreational services Financial services Insurance services Construction services Government services Royalties and license fees
Map
Top 5 Import Partners
| Country | Trade | % Partner Share |
| China | 18,478 | 18.14 |
| Japan | 11,798 | 11.58 |
| Korea, Rep. | 8,820 | 8.66 |
| United States | 8,310 | 8.16 |
| Thailand | 7,065 | 6.93 |
Top 5 Import Products
| Export Product | Number |
| Parts of electronic integrated circuits and mic | 12.5% |
| Monolithic integrated circuits, nes | 5.5% |
| Petroleum oils, etc, (excl. crude); preparation | 4.5% |
| Petroleum oils and oils obtained from bituminou | 3.4% |
| Parts of printing machinery & machines for uses | 3.1% |
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