The U.S. continues to be the Philippines’ number one supplier of agricultural products, and the Philippines is its 9th largest market in the world. In 2014, export sales increased nine percent to a record $2.73 billion. The top five U.S. exports by value in 2014 were wheat; soybeans & soybean meal; dairy products; red meats; and poultry meat & products. A sharp decline in commodity prices and the strong U.S. dollar contributed to a 15 percent drop in export sales from January to September in 2015. Traders expect exports to rebound in the last quarter of 2015. Competition has intensified and new challenges have emerged for U.S. exporters due to bilateral and regional free-trade agreements. Consumer oriented food & beverage products remain the best prospects for future export growth. Opportunities abound because of the robust Philippine economy, steady growth in the country’s retail, foodservice and food processing sectors, and consumer familiarity with American brands.