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Pricing

2022
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Exports $4.22BRnk 8 / 205
2022
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Top Product $810MIntegrated Circuits
2022
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Exports $12.5BRnk 11 / 220
2022
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Top Product $4.55BRefined Petroleum
2022
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Economic Complexity (ECI) ECI 0.63Rnk 38 / 124
2022
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Economic Complexity (ECI) ECI 1.71Rnk 4 / 124
2022
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GDP$404BCURRENT US$
Rnk 38 / 186
2012-2022
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GDP GROWTH54.4%CURRENT US$
Rnk 51 / 186
2022
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 GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
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GDP PC $3,499CURRENT US$
Rnk 129 / 186
2012-2022
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GDP PC GROWTH30.9%CURRENT US$
Rnk 61 / 186
2022
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GDP PC$32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186

About

Philippines-South Korea In 2022, Philippines exported $4.22B to South Korea. The main products that Philippines exported to South Korea are Integrated Circuits ($810M), Coal Briquettes ($520M), and Copper Ore ($254M). During the last 27 years the exports of Philippines to South Korea have increased at an annualized rate of 7.57%, from $588M in 1995 to $4.22B in 2022.

In 2022, Philippines did not export any services to South Korea.

South Korea-Philippines In 2022, South Korea exported $12.5B to Philippines. The main products that South Korea exported to Philippines were Refined Petroleum ($4.55B), Integrated Circuits ($3.64B), and Copper Wire ($233M). During the last 27 years the exports of South Korea to Philippines have increased at an annualized rate of 8.18%, from $1.49B in 1995 to $12.5B in 2022.

In 2005, South Korea exported services to Philippines worth $354M, with Transportation ($236M), Travel ($68.4M), and Other business services ($23.2M) being the largest in terms of value.

Comparison In 2022,  Philippines ranked 38 in the Economic Complexity Index (ECI 0.63), and 40 in total exports ($110B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.71), and 5 in total exports ($705B).

Latest Trends

August, 2021

About

Overview In August 2021, Philippines exported $185M and imported $819M from South Korea, resulting in a negative trade balance of $634M. Between August 2020 and August 2021 the exports of Philippines have decreased by $-2.62M (-1.39%) from $188M to $185M, while imports increased by $286M (53.6%) from $533M to $819M.

Trade In August 2021, the top exports of Philippines to South Korea were Commodities not elsewhere specified ($118M), Integrated Circuits ($26.7M), Bananas ($24.2M), Insulated Wire ($22.1M), and Electrical Capacitors ($7.07M). In August 2021 the top imports of Philippines from South Korea were Commodities not elsewhere specified ($231M), Refined Petroleum ($141M), Crude Petroleum ($51.4M), Integrated Circuits ($36.5M), and Disc Chemicals for Electronics ($22M).

Growth In August 2021, the decrease in Philippines's year-by-year exports to South Korea was explained primarily by an decrease in product exports in Refined Petroleum ($-17.9M or -100%), Refined Copper ($-11.4M or -72.7%), and Bananas ($-4.47M or -15.6%). In August 2021, the increase in Philippines's year-by-year imports  from South Korea was explained primarily by an increase in product imports  in Refined Petroleum ($34.2M or 32.2%), Disc Chemicals for Electronics ($19.9M or 969%), and Delivery Trucks ($9.52M or 834%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (August 2020 - August 2021)$-2.62M(-1.39%)
IMPORT GROWTH (August 2020 - August 2021)$286M(53.6%)

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

To check South Korea and Philippines trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Philippines exported $4.22B to South Korea. The main products exported from Philippines to South Korea were Integrated Circuits ($810M), Coal Briquettes ($520M), and Copper Ore ($254M). During the last 27 years the exports of Philippines to South Korea have increased at an annualized rate of 7.57%, from $588M in 1995 to $4.22B in 2022.

In 2022, South Korea exported $12.5B to Philippines. The main products exported from South Korea to Philippines were Refined Petroleum ($4.55B), Integrated Circuits ($3.64B), and Copper Wire ($233M). During the last 27 years the exports of South Korea to Philippines have increased at an annualized rate of 8.18%, from $1.49B in 1995 to $12.5B in 2022.

Exports from Philippines (Flag) to South Korea (Flag) (2022)

Exports from South Korea (Flag) to Philippines (Flag) (2022)

Market Competitiveness

Color
Philippines
Top DestinationUnited States$15.5B
South Korea
Top DestinationChina$150B

This map shows whether countries import more from Philippines or South Korea. Each country is colored based on the difference in imports they receive from Philippines and South Korea or the difference in the growth in imports.

In 2021, countries that imported more from Philippines than South Korea were Switzerland ($4.1B), Brunei ($138M), and Curaçao ($38.3M).

In 2021, countries that imported more from South Korea than Philippines were China ($150B), United States ($112B), and Vietnam ($60.7B).

Difference in imports from South Korea (Flag) and Philippines (Flag) (2022)

Comparative Advantage Philippines - South Korea

Flow
Scale

This chart compares trade between Philippines and South Korea by product, considering products traded by both, Philippines and South Korea.

During 2022, Philippines had a large net trade with South Korea in the exports of Machines ($2B), Mineral Products ($814M), and Metals ($360M).

During 2022, South Korea had a large net trade with Philippines in the exports of Machines ($5.07B), Mineral Products ($4.63B), and Metals ($686M).

Service Trade

Bilateral Service Trade

In 2005, South Korea exported services to Philippines worth $354M, with Transportation ($236M), Travel ($68.4M), and Other business services ($23.2M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from South Korea (Flag) to Philippines (Flag) (2005)

Economic Complexity

Competitive Landscape

This visualization show the product space at the HS4 level colored from blue to yellow.  This mean that the more blue a dot/product is, the more Philippines has comparative advantage over South Korea. Similarly, the more yellow a dot/product is, the more South Korea has comparative advantage over Philippines.

Product Space of Philippines (Flag) and South Korea (Flag) (2022)

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