BILATERAL TRADE FLOWS BETWEEN JAPAN AND THE PHILIPPINES

There was an unprecedented expansion in the economic relations between Japan and the Philippines from the second half of the 1980s until the mid-1990s. In the late 1980s, excess funds in Japan which were accumulated during years of huge trade surpluses fnally found their way to the Philippines. Together with the influx of the Japanese investors were massive inflows of capital and intermediate goods from Japan. Philippine exports to Japan likewise grew remarkably.