South Korea / Philippines

Overview In September 2023, South Korea exported $709M and imported $320M from Philippines, resulting in a positive trade balance of $389M. Between September 2022 and September 2023 the exports of South Korea have decreased by $-239M (-25.2%) from $948M to $709M, while imports decreased by $-137M (-30%) from $458M to $320M.

Trade In September 2023, the top exports of South Korea to Philippines were Electrical machinery and electronics ($425M), Mineral fuels, mineral oils and products... ($284M), Machinery, mechanical appliances, & parts ($32.9M), Plastics and articles thereof ($32.5M), and Iron & steel ($19M). In September 2023 the top imports of South Korea from Philippines were Electrical machinery and electronics ($242M), Ores, slag and ash ($40.9M), Copper articles ($17.5M), Fruit and nuts, edible; peel of... ($16.1M), and Machinery, mechanical appliances, & parts ($8.29M).

Growth In September 2023, the decrease in South Korea's year-by-year exports to Philippines was explained primarily by an decrease in product exports in Ships, boats, & floating structures ($-168M or -100%), Tanning or dyeing extracts; tannins and... ($-7.01M or -32.5%), and Organic chemicals ($-2.13M or -21.9%). In September 2023, the decrease in South Korea's year-by-year imports  from Philippines was explained primarily by an decrease in product imports  in Copper articles ($-24.6M or -58.4%), Machinery, mechanical appliances, & parts ($-19.3M or -70%), and Fruit and nuts, edible; peel of... ($-2.97M or -15.5%).