Flag South Korea / Philippines Flag

Exports FlagFlag  (2018): $12.6B, Rnk 9 / 210

Top Product FlagFlag (2018): $5.56B, Integrated Circuits

Exports FlagFlag (2018): $3.96B, Rnk 7 / 194

Top Product FlagFlag (2018): $876M, Integrated Circuits

Economic Complexity of Flag (2018): ECI 1.85, Rnk 5 / 137

Economic Complexity of Flag (2018): ECI 0.5, Rnk 46 / 137

GDP Flag (2018): $1.62T, CURRENT US$
Rnk 12 / 196

GDP GROWTH Flag (2008-2018): 61.6%, CURRENT US$
Rnk 69 / 196

GDP Flag (2018): $331B, CURRENT US$
Rnk 38 / 196

GDP GROWTH Flag (2008-2018): 90%, CURRENT US$
Rnk 38 / 196

GDP PC Flag (2018): $31,363, CURRENT US$
Rnk 34 / 196

GDP PC GROWTH Flag (2008-2018): 53.5%, CURRENT US$
Rnk 42 / 196

GDP PC Flag (2018): $3,103, CURRENT US$
Rnk 137 / 196

GDP PC GROWTH Flag (2008-2018): 61.9%, CURRENT US$
Rnk 36 / 196

South Korea-Philippines: In 2018, South Korea exported $12.6B to Philippines. The main products exported from South Korea to Philippines were Integrated Circuits ($5.56B), Refined Petroleum ($2.09B), and Crude Petroleum ($260M). During the last 23 years the exports of South Korea to Philippines have increased at an annualized rate of 9.7%, from $1.49B in 1995 to $12.6B in 2018. 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.

Philippines-South Korea: In 2018, Philippines exported $3.96B to South Korea. The main products exported from Philippines to South Korea were Integrated Circuits ($876M), Office Machine Parts ($501M), and Bananas ($267M). During the last 23 years the exports of Philippines to South Korea have increased at an annualized rate of 8.61%, from $592M in 1995 to $3.96B in 2018.

Comparison: In 2018, South Korea ranked 5 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($617B). That same year, Philippines ranked 46 in the Economic Complexity Index (ECI 0.5), and 38 in total exports ($97.8B). In terms of GDP Per Capita, South Korea was ranked 34 with a GDP Per Capita of $31,363, and Philippines was ranked 137 with a GDP Per Capita of $3,103.

Bilateral Trade by Products

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Depth
Value

In 2018, South Korea exported $12.6B to Philippines. The main products exported from South Korea to Philippines were Integrated Circuits ($5.56B), Refined Petroleum ($2.09B), and Crude Petroleum ($260M). During the last 23 years the exports of South Korea to Philippines have increased at an annualized rate of 9.7%, from $1.49B in 1995 to $12.6B in 2018.

In 2018, Philippines exported $3.96B to South Korea. The main products exported from Philippines to South Korea were Integrated Circuits ($876M), Office Machine Parts ($501M), and Bananas ($267M). During the last 23 years the exports of Philippines to South Korea have increased at an annualized rate of 8.61%, from $592M in 1995 to $3.96B in 2018.

Market Competitiveness

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Measure

South Korea
Top Destination
: China, $160B

Philippines
Top Destination
: Hong Kong, $13.9B

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

In 2018, countries that imported more from South Korea than Philippines were China ($160B), United States ($73.1B), and Vietnam ($48.6B).

In 2018, countries that imported more from Philippines than South Korea were Curaçao ($56.5M), Switzerland ($735M), and Norfolk Island ($2.92M).

Comparative Advantage South Korea - Philippines

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Depth

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

During 2018, South Korea had a large net trade with Philippines in the exports of Machines ($7B), Mineral Products ($2.43B), and Metals ($800M).

During 2018, Philippines had a large net trade with South Korea in the exports of Machines ($2.41B), Vegetable Products ($337M), and Mineral Products ($266M).

Tariff Section

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This sections shows import tariffs for products traded between South Korea and Philippines (using the HS6 product classification and the last year reported).

In 2018, the products from South Korea that paid the highest import tariffs to enter Philippines were Manioc (cassava), fresh or dried (719%) and Manioc (cassava), fresh or dried (710%).

In 2018, the products from Philippines that paid the highest import tariffs to enter South Korea were 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%).

Explore Tariff Data

*The tariffs present between South Korea and Philippines are:
84: Association of Southeast Asian Nations (ASEAN ) Free Trade Area
136: Most Favoured Nation duty rate treatement

Trade Forecasts

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This section shows a forecast for total trade between South Korea and Philippines. The forecast is based on a long short-term memory model or LSTM constructed using yearly trade data.

To create custom forecast, or modify the parameters of the forecasting model, visit our Forecast Section.

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Bilateral Service Trade

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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.

Economic Complexity

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Competitive Landscape

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