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2023
Flag → Flag
Exports $8.88BRnk 17 / 142
2023
Flag → Flag
Top Product $3.16BRefined Petroleum
2023
Flag → Flag
Exports $3.48BRnk 7 / 201
2023
Flag → Flag
Top Product $997MIntegrated Circuits
2023
Flag
Economic Complexity (ECI) ECI 1.85Rnk 4 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 132
2023
Flag  
GDP$1.71TCURRENT US$
Rnk 14 / 195
2013-2023
Flag
GDP GROWTH25%CURRENT US$
Rnk 127 / 195
2023
Flag
 GDP$437BCURRENT US$
Rnk 33 / 195
2013-2023
Flag
GDP GROWTH54%CURRENT US$
Rnk 67 / 195
2023
Flag
GDP PC $33,121CURRENT US$
Rnk 41 / 195
2013-2023
Flag
GDP PC GROWTH21.9%CURRENT US$
Rnk 99 / 195
2023
Flag
GDP PC$3,805CURRENT US$
Rnk 133 / 196
2013-2023
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GDP PC GROWTH36.8%CURRENT US$
Rnk 65 / 195

About

South Korea-Philippines Trade: In 2023, South Korea exported $8.88B to Philippines. The main products that South Korea exported to Philippines were Refined Petroleum ($3.16B), Integrated Circuits ($1.96B), and Office Machine Parts ($426M). Over the past 5 years the exports of South Korea to Philippines have increased at an annualized rate of 0.22%, from $8.78B in 2018 to $8.88B in 2023.

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 Trade: In 2023, Philippines exported $3.48B to South Korea. The main products that Philippines exported to South Korea were Integrated Circuits ($997M), Valves ($258M), and Coal Briquettes ($184M). Over the past 5 years the exports of Philippines to South Korea have decreased at an annualized rate of 3.6%,  from $4.18B in 2018 to $3.48B in 2023.

In 2023, Philippines did not export any services to South Korea.

Comparison: In 2023,  South Korea ranked 4 in the Economic Complexity Index (ECI 1.85), and 5 in total exports ($645B). That same year, Philippines ranked 40 in the Economic Complexity Index (ECI 0.64), and 42 in total exports ($101B).

Latest Trends

January, 2025

About

Overview In January 2025, South Korea exported $872M and imported $229M from Philippines, resulting in a positive trade balance of $643M. Between January 2024 and January 2025 the exports of South Korea have increased by $169M (24.1%) from $702M to $872M, while imports decreased by $-167M (-42.2%) from $396M to $229M.

Trade In January 2025, the top exports of South Korea to Philippines were Mineral fuels, mineral oils and products... ($224M), Electrical machinery and electronics ($220M), Machinery, mechanical appliances, & parts ($27.7M), Copper articles ($25.6M), and Plastics & articles thereof ($23.4M). In January 2025 the top imports of South Korea from Philippines were Electrical machinery and electronics ($241M), Copper articles ($33.7M), Edible fruits, nuts & fruit peels ($27M), Mineral fuels, mineral oils and products... ($14.4M), and Optical, photo, & film equipment; medical... ($11.9M).

Growth In January 2025, the increase in South Korea's year-by-year exports to Philippines was explained primarily by an increase in product exports in Railway and trams ($22.5M or 10.2k%), Cars, tractors, trucks & parts thereof. ($4.99M or 34.1%), and Copper articles ($4.65M or 22.2%). In January 2025, the decrease in South Korea's year-by-year imports  from Philippines was explained primarily by an decrease in product imports  in Electrical machinery and electronics ($-70.2M or -22.5%), Mineral fuels, mineral oils and products... ($-17.2M or -54.4%), and Ores, slag and ash ($-10M or -96.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (January 2024 - January 2025)$169M(24.1%)
IMPORT GROWTH (January 2024 - January 2025)$-167M(-42.2%)

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

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

For full datasets download visit Bulk Download page.

Explore Philippines and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, South Korea exported $8.88B to Philippines. The main products exported from South Korea to Philippines were Refined Petroleum ($3.16B), Integrated Circuits ($1.96B), and Office Machine Parts ($426M). During the last 5 years the exports of South Korea to Philippines have increased at an annualized rate of 0.22%, from $8.78B in 2018 to $8.88B in 2023.

In 2018, Philippines exported $3.48B to South Korea. The main products exported from Philippines to South Korea were Integrated Circuits ($997M), Valves ($258M), and Coal Briquettes ($184M). During the last 5 years the exports of Philippines to South Korea have decreased at an annualized rate of 3.6%, from $4.18B in 2023 to $3.48B in 2018.

Exports from South Korea (Flag) to Philippines (Flag) (2023)

Exports from Philippines (Flag) to South Korea (Flag) (2023)

Market Competitiveness

Color
South Korea
Top DestinationChina$162B
Philippines
Top DestinationChina$19B

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 2023, countries that imported more from South Korea than Philippines included China ($162B), United States ($118B), and Chinese Taipei ($28.2B).

In 2023, countries that imported more from Philippines than South Korea included Vietnam ($1.69B), Russia ($48.7M), and Bangladesh ($38.2M).

Difference in imports from Philippines (Flag) and South Korea (Flag) (2023)

Comparative Advantage South Korea - Philippines

Flow
Scale

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

During 2023, South Korea had a large net trade with Philippines in the exports of Machines ($3.41B), Mineral Products ($3.21B), and Chemical Products ($653M).

During 2018, Philippines had a large net trade with South Korea in the exports of Machines ($2.04B), Mineral Products ($272M), and Instruments ($238M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Philippines+$104MCars
Top Product Potential Philippines South Korea+$622MIntegrated Circuits

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of South Korea and Philippines. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Philippines. Similarly, a dot/product with the flag of Philippines indicates it has a comparative advantage over South Korea.

Product Space of South Korea (Flag) and Philippines (Flag) (2023)

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