Total two-way trade between Australian and the Philippines reached A$4.3b in 2016, up 70% since 2010. Australian merchandise exports to the Philippines were worth A$1.9b made up primarily of wheat, precious metals, copper and coal. Australian imports from the Philippines were worth A$770m and consisted mainly of gold, copper and electrical machinery.
Over 287 Australian companies are now fully established in the Philippines. Australia and the Philippines are both members of APEC, and Australia is an active participant in the East Asia Summit (EAS). The ASEAN-Australia-New Zealand Free Trade Agreement (AANZ) now allows for 95% of Australian products to enter the Philippines duty free while 97% of products made in the Philippines can enter Australia with the same advantage.