Overview In 2020 Philippines was the number 32 economy in the world in terms of GDP (current US$), the number 39 in total exports, the number 34 in total imports, the number 132 economy in terms of GDP per capita (current US$) and the number 39 most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Philippines are Integrated Circuits ($22.6B), Office Machine Parts ($9.32B), Electrical Transformers ($2.36B), Insulated Wire ($2.32B), and Semiconductor Devices ($2.18B), exporting mostly to China ($12.9B), United States ($10.7B), Japan ($10.3B), Hong Kong ($10B), and Singapore ($6.28B).

In 2020, Philippines was the world's biggest exporter of Nickel Ore ($1.34B) and Gold Clad Metals ($17.1M)

Imports The top imports of Philippines are Integrated Circuits ($12.3B), Refined Petroleum ($5.61B), Broadcasting Equipment ($2.89B), Office Machine Parts ($2.45B), and Cars ($2.16B), importing mostly from China ($34.5B), Japan ($8.21B), South Korea ($7.31B), United States ($6.84B), and Indonesia ($6.34B).

In 2020, Philippines was the world's biggest importer of Copra ($25.9M)

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

August, 2021

Historical Data

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Flow
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Top Export (2020): Integrated Circuits, $22.6B

Top Destination (2020): China, $34.5B

In 2020, Philippines exported a total of $79.5B, making it the number 39 exporter in the world. During the last five reported years the exports of Philippines have changed by $9.4B from $70.1B in 2015 to $79.5B in 2020.

The most recent exports are led by Integrated Circuits ($22.6B), Office Machine Parts ($9.32B), Electrical Transformers ($2.36B), Insulated Wire ($2.32B), and Semiconductor Devices ($2.18B). The most common destination for the exports of Philippines are China ($12.9B), United States ($10.7B), Japan ($10.3B), Hong Kong ($10B), and Singapore ($6.28B).

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Fastest Growing Export Markets (2019 - 2020)

Fastest Growing Import Markets (2019 - 2020)

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).

Economic Complexity

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Most Specialized Products by RCA Index

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Philippines has a high level of specialization in Nickel Ore (76.3), Coconut Oil (37.9), Bananas (25.3), Cameras (24.4), and Recovered Paper Pulp (19.8). Specialization is measured using RCA, an index that takes the ratio between Philippines observed and expected exports in each product.

Export Opportunities by Relatedness

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The top export opportunities for Philippines according to the relatedness index, are Rubber Apparel (0.21), Other Edible Animal Products (0.21), Cocoa Beans (0.19), Incomplete Movement Sets (0.18), and Palm Oil (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 a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Philippines. These are products that tend to be co-exported with the products that Philippines exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.

Economic Complexity Ranking

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During the last 20 years Philippines's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨74th to the 39th⁩ 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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