Close hyperlinks with the US
But highlighting the importance of the usa’s strategic relationship with the United States, the commercial enterprise group pointed out that distant places Filipino remittances and the business procedure outsourcing enterprise – two essential pillars of the Philippine economy – are intently linked with the United States. They stated Filipinos inside the US make contributions the highest amount of remittances to the Philippines, valued at $eight.Four billion, accounting for 33 percent of the united states of america’s overall remittances sourced from everywhere in the world.
The US accounted for 12.7 percentage of the Philippines’ general alternate. The Philippines exported $nine-billion well worth of goods to the USA, whilst the Philippines imported $7.Forty seven billion, reflecting a trade surplus valued at $1.Fifty five billion. (for what duration is that this?)