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 II.  BILATERAL TRADE WITH THE PHILIPPINES
     Value in US$ Million

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In 2006, the United Kingdom was the Philippines' 20^th trading partner; 14^th as an export market and 19^th as an import source. Among the 27 EU member countries, the United Kingdom ranked 4^th as RP's export market after The Netherlands, Germany and Belgium .

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• The UK economy is a large and open mixed economy, characterized by an export-oriented manufacturing sector and a major financial centre (one of the world's largest exporters of financial services).
  
  

• The UK economy is centered around services, which account for two-thirds of GDP. The rise of service industries and the decline of the traditional industrial base has led to higher GDP per capita, employment and disposable income levels.
  
  

• The UK is a major importer of agricultural products, raw materials, semi-manufactures and finished manufactures.
  
  

• The agriculture sector contributes just two per cent to GDP and employs two per cent of the workforce, yet meets over two-thirds of food consumption needs. The sector is highly efficient, and is also a significant exporter of agricultural produce, fertilizers and foodstuffs. Consumer-oriented food and drinks remains the most important sector. There has also been notable success for branded snack foods and grocery goods, largely by generating niche markets and specialist distribution based upon their quality attributes.
  
  

• The UK is one of the 10 largest motor-vehicle manufacturers in the world, and one of the five major automotive manufacturing countries in Europe , with over 5,000 companies active in the sector. It has the strongest independent aftermarket in Europe , with many small operators doing business alongside the big household names. These factors, combined with a steady increase in the number of new vehicle registrations since 2000, have helped to boost demand for automotive parts and equipment.
  
  

• The typical UK consumer has strong interest in innovative, products particularly high in organic, health, specialty and ethnic categories.
  
  

• Best Product Prospect for RP exports are; natural, wholesome & healthy foods, seafood, fresh fruit & vegetables, dried fruits & nuts, specialty sauces & condiments, snack foods, and confectionery.

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1. https://www.uktradeinvest.gov.uk (Information on UK trade and investment opportunities. Free access)
   
   

2. http://www.tdctrade.com/ (Information on latest UK market development. Free access)
   
   

3. https://www.cia.gov/library/publications/the-world-factbook/index.html (Information on current UK macro-economic indicators. Free access)
   
   

4. http://www.imf.org/external/pubs/ft/weo/2006/02/data/index.aspx (Information on forecast of UK macro-economic indicators. Free access)

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