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Philippines, Germany Q1 trade up 38.1 percent

Staff writer |
The trade between the Philippines and Germany in the first quarter registered a record- high of 38.1 percent increase to $1.57 billion, according to the German-Philippine Chamber of Commerce and Industry (GPPCI).

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The GPPCI said that the double digit growth is a testament of the German companies' continuing interest in the Philippines and can be attributed to the growing interest of German companies to trade with and invest in the Philippines.

Total trade between the two countries reached $5.24 billion in 2014, up from $4.48 billion in 2013.

Peter Kompalla, GPPCI Executive Director, said many factors contribute to the growing interest in the Philippines such as governance reforms and the positive investments grade outlook by credible institutions such as Moody's and Standard and Poors.

Top Philippine exports to Germany include data processing equipment, electrical and optical products, electrical equipment, clothing, food and fodder, as well as chemical products.

German exports to the Philippines grew by 18 percent to $2.24 billion in 2014 from $1.9 billion in 2013.

Top German exports to the Philippines include data processing equipment, electrical and optical products, food and fodder, other vehicles, pharmaceuticals and related and chemical products.

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