Flag Philippines

Econ Complexity (2018): 0.5, Rank 46 of 137

Product Exports (2018): $97.8B, Rank 38 of 222

Exports Per Capita (2018): $917, Rank 88 of 219

Product Imports (2018): $135B, Rank 33 of 221

Imports Per Capita (2018): $1.26k, Rank 87 of 219

Service Exports (2018): $34.2B, Rank 16 of 88

Service Imports (2018): $26.7B, Rank 23 of 88

GDP (2018): $331B, CURRENT US$
Rank 38 of 196

GDP growth (2008 - 2018): 90%, CURRENT US$
Rank 38 of 196

GDP PC (2018): $3,103, CURRENT US$
Rank 137 of 196

GDP PC GROWTH (2008 - 2018): 61.9%, CURRENT US$
Rank 36 of 196

Overview: This page contains the latest international trade data for Philippines, including service trade data, and tariffs. In 2018 Philippines was the number 38 economy in the world in terms of GDP (current US$), the number 38 in total exports, the number 33 in total imports, and the number 46 most complex economy according to the Economic Complexity Index (ECI). In 2018, Philippines exported $97.8B and imported $135B, resulting in a negative trade balance of -$36.7B. In 2018, Philippines's exports per capita were $917 and its imports per capita were $1.26k.

Trade: The top exports of Philippines are Integrated Circuits ($30.7B), Office Machine Parts ($8.89B), Computers ($4.97B), Semiconductor Devices ($3.42B), and Electrical Transformers ($2.48B). The top imports of Philippines are Integrated Circuits ($20.1B), Refined Petroleum ($9.22B), Crude Petroleum ($4.79B), Cars ($3.78B), and Planes, Helicopters, and/or Spacecraft ($2.46B).

Destinations: Philippines exports mostly to Hong Kong ($13.9B), United States ($13.8B), China ($13.3B), Japan ($11.2B), and Singapore ($7.92B), and imports mostly from China ($32.3B), South Korea ($12.6B), Japan ($11.6B), Chinese Taipei ($10.2B), and United States ($9.15B).

Location: Philippines borders China, Indonesia, Japan, Malaysia, Palau, and Vietnam by sea.

Latest Trends (July, 2020)

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Overview: In July 2020 Philippines exported $5.68B and imported $7.95B, resulting in a negative trade balance of $2.27B. Between July 2019 and July 2020 the exports of Philippines have decreased by $-493M (-7.99%) from $6.17B to $5.68B, while imports decreased by $-2.12B (-21%) from $10.1B to $7.95B.

Trade: In July 2020 the top exports of Philippines were Integrated Circuits ($1.3B), Commodities not elsewhere specified ($847M), Computers ($270M), Industrial Printers ($207M), and Insulated Wire ($171M). In July 2020 the top imports of Philippines were Commodities not elsewhere specified ($969M), Integrated Circuits ($643M), Refined Petroleum ($606M), Telephones ($217M), and Office Machine Parts ($195M).

Destinations: In July 2020 Philippines exported mostly to United States ($1.04B), China ($916M), Japan ($818M), Hong Kong ($773M), and Singapore ($330M), and imported mostly from China ($1.98B), Japan ($769M), South Korea ($610M), United States ($581M), and Singapore ($544M).

Growth: In July 2020, the decrease in Philippines's year-by-year exports was explained primarily by an decrease in exports to Japan ($-117M or -12.5%), Hong Kong ($-70M or -8.31%), and Netherlands ($-67.2M or -31.3%), and product exports decrease in Integrated Circuits ($-153M or -10.6%), Gold ($-57.4M or -41.1%), and Telephones ($-50.7M or -66.3%). In July 2020, the decrease in Philippines's year-by-year imports was explained primarily by an decrease in imports from China ($-330M or -14.3%), Thailand ($-226M or -39.3%), and South Korea ($-215M or -26%), and product imports decrease in Refined Petroleum ($-208M or -25.6%), Planes, Helicopters, and/or Spacecraft ($-180M or -99.4%), and Cars ($-171M or -60%).

Flow
Value
Depth

EXPORT GROWTH (July 2019 - July 2020): $-493M, (-7.99%)

IMPORT GROWTH (July 2019 - July 2020): $-2.12B, (-21%)

MAIN DESTINATION (July 2020): United States, $1.04B

This section shows exports and imports data at subnational level for Philippines. Click any date in the line plot, or any product, destination or origin country to explore the exports or imports behavior of Philippines over time.

Comparison in Time

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Flow
Value

This section shows the differences between Philippines's total subnational aggregate trade throughout time.

Yearly Exports

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Value
Depth

Top Export (2018): Integrated Circuits, $30.7B

Top Destination (2018): Hong Kong, $13.9B

In 2018 Philippines exported a total of $97.8B, making it the number 38 exporter in the world. During the last five reported years the exports of Philippines have changed by $17.6B from $80.2B in 2013 to $97.8B in 2018.

The most recent exports are led by Integrated Circuits ($30.7B), Office Machine Parts ($8.89B), Computers ($4.97B), Semiconductor Devices ($3.42B), and Electrical Transformers ($2.48B). The most common destination for the exports of Philippines are Hong Kong ($13.9B), United States ($13.8B), China ($13.3B), Japan ($11.2B), and Singapore ($7.92B).

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Yearly Imports

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Value
Depth

Top Import (2018): Integrated Circuits, $20.1B

Top Origin (2018): China, $32.3B

In 2018 Philippines imported $135B, making it the number 33 trade destination in the world. During the last five reported years the imports of Philippines changed by $56.8B from $77.7B in 2013 to $135B in 2018.

The most recent imports of Philippines are led by Integrated Circuits ($20.1B), Refined Petroleum ($9.22B), Crude Petroleum ($4.79B), Cars ($3.78B), and Planes, Helicopters, and/or Spacecraft ($2.46B). The most common import partners for Philippines are China ($32.3B), South Korea ($12.6B), Japan ($11.6B), Chinese Taipei ($10.2B), and United States ($9.15B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

  • China, $10.4B (+ 47.5%)
  • Chinese Taipei, $4.78B (+ 89%)
  • South Korea, $3.82B (+ 43.7%)

Philippines Exports Services (2018): $34.2B

Philippines Imports Services (2018): $26.7B

In 2018, Philippines exported $34.2B worth of services. The top services exported by Philippines in 2018 were Other business services ($16.7B), Personal travel ($8.2B), Computer and information services ($5.94B), Transportation ($2.7B), and Financial services ($279M).

The top services imported by Philippines in 2018 were Personal travel ($11.6B), Transportation ($5.36B), Other business services ($4.63B), Insurance services ($1.46B), and Computer and information services ($991M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Philippines. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Philippines are Sugars: cane sugar, raw, in solid form, as specified in Subheading Note 2 to this chapter, not containing added flavouring or colouring matter (65%) and Sugars: cane sugar, raw, in solid form, other than as specified in Subheading Note 2 to this chapter, not containing added flavouring or colouring matter (65%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Philippines are:
2: AANZFTA ASEAN - Australia - New Zealand Free Trade Area For Australia and New Zealand
55: ASEAN Korea, Republic of Free Trade Area
56: ASEAN India Free Trade Area
57: ASEAN Japan Free Trade Area
84: Association of Southeast Asian Nations (ASEAN ) Free Trade Area
136: Most Favoured Nation duty rate treatement
148: Philippines - Japan Free Trade Area
184: Preferential tariff for China

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Philippines's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨74th to the 46th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Comparison Map

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Value

This section shows exports, imports and economic complexity data at subnational level for Philippines.

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Most Specialized Products by RCA Index

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Philippines has a high level of specialization in Coconut Oil (37.5), Nickel Ore (31), Bananas (24.5), Recovered Paper Pulp (22.1), and Nickel Mattes (19.6). Specialization is measured using RCA, an index that takes the ratio between Philippines observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Philippines according to the product complexity index (PCI) are Lathes for removing metal (1.9), Measuring or checking instruments nes (1.65), Instruments to check or measure electricity, radiation (1.6), Prepared unrecorded sound recording media (non-photo) (1.47), and Machinery, non-domestic, involving heating or cooling (1.43). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Philippines according to the relatedness index, are Rubber Thread (0.23), Incomplete Movement Sets (0.19), Rubber Apparel (0.19), Other Edible Animal Products (0.19), and Raw Tin (0.18). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Philippines is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Filter
Depth

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.