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2022
Flag → Flag
Exports $4.91MRnk 103 / 205
2022
Flag → Flag
Top Product $1.02MOffice Machine Parts
2022
Flag → Flag
Exports $385kRnk 93 / 160
2022
Flag → Flag
Top Product $142kNon-fillet Frozen Fish
2022
Flag
Economic Complexity (ECI) ECI 0.71Rnk 37 / 133
2022
Flag  
GDP$404BCURRENT US$
Rnk 38 / 186
2012-2022
Flag
GDP GROWTH54.4%CURRENT US$
Rnk 51 / 186
2022
Flag
 GDP$27.8BCURRENT US$
Rnk 107 / 186
2012-2022
Flag
GDP GROWTH88.7%CURRENT US$
Rnk 20 / 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$72,903CURRENT US$
Rnk 9 / 186
2012-2022
Flag
GDP PC GROWTH58.5%CURRENT US$
Rnk 29 / 186

About

Philippines-Iceland Trade: In 2022, Philippines exported $4.91M to Iceland. The main products that Philippines exported to Iceland were Office Machine Parts ($1.02M), Electrical Transformers ($493k), and Other Processed Fruits and Nuts ($356k). Over the past 5 years the exports of Philippines to Iceland have increased at an annualized rate of 7.88%, from $3.36M in 2017 to $4.91M in 2022.

In 2022, Philippines did not export any services to Iceland.

Iceland-Philippines Trade: In 2022, Iceland exported $385k to Philippines. The main products that Iceland exported to Philippines were Non-fillet Frozen Fish ($142k), Cheese ($120k), and Natural Polymers ($58.2k). Over the past 5 years the exports of Iceland to Philippines have decreased at an annualized rate of 19.9%,  from $1.17M in 2017 to $385k in 2022.

In 2019, Iceland exported services to Philippines worth $5.82M, with Travel ($5.49M) and Transportation ($336k) being the largest in terms of value.

Comparison In 2022,  Philippines ranked 37 in the Economic Complexity Index (ECI 0.71),  and 40 in total exports ($110B). That same year, Iceland ranked 116 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Latest Trends

September, 2024

About

Overview In September 2024, Philippines exported $59.7k and imported $8.43k from Iceland, resulting in a positive trade balance of $51.3k. Between September 2023 and September 2024 the exports of Philippines have decreased by $-291k (-83%) from $350k to $59.7k, while imports decreased by $-49.7k (-85.5%) from $58.1k to $8.43k.

Trade In September 2024, the top exports of Philippines to Iceland were Other Processed Fruits and Nuts ($20.1k), Imitation Jewellery ($5.37k), Integrated Circuits ($1.74k), Aircraft Parts ($634), and Wood Ornaments ($37). In September 2024 the top imports of Philippines from Iceland were Other Plastic Products ($2k), Ball Bearings ($1.02k), Commodities not elsewhere specified ($699), and Margarine ($206).

Growth In September 2024, the decrease in Philippines's year-by-year exports to Iceland was explained primarily by an decrease in product exports in Integrated Circuits ($-61.8k or -97.3%). In September 2024, the decrease in Philippines's year-by-year imports  from Iceland was explained primarily by an decrease in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (September 2023 - September 2024)$-291k(-83%)
IMPORT GROWTH (September 2023 - September 2024)$-49.7k(-85.5%)

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 Iceland and Philippines trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Iceland and Philippines Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Philippines exported $4.91M to Iceland. The main products exported from Philippines to Iceland were Office Machine Parts ($1.02M), Electrical Transformers ($493k), and Other Processed Fruits and Nuts ($356k). During the last 5 years the exports of Philippines to Iceland have increased at an annualized rate of 7.88%, from $3.36M in 2017 to $4.91M in 2022.

In 2017, Iceland exported $385k to Philippines. The main products exported from Iceland to Philippines were Non-fillet Frozen Fish ($142k), Cheese ($120k), and Natural Polymers ($58.2k). During the last 5 years the exports of Iceland to Philippines have decreased at an annualized rate of 19.9%, from $1.17M in 2022 to $385k in 2017.

Exports from Philippines (Flag) to Iceland (Flag) (2022)

Exports from Iceland (Flag) to Philippines (Flag) (2022)

Market Competitiveness

Color
Philippines
Top DestinationUnited States$15.5B
Iceland
Top DestinationNetherlands$1.97B

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

In 2022, countries that imported more from Philippines than Iceland included China ($15.3B), United States ($15.5B), and Hong Kong ($12.6B).

In 2022, countries that imported more from Iceland than Philippines included Norway ($459M), Denmark ($257M), and Nigeria ($69.3M).

Difference in imports from Iceland (Flag) and Philippines (Flag) (2022)

Comparative Advantage Philippines - Iceland

Flow
Scale

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

During 2022, Philippines had a large net trade with Iceland in the exports of Machines ($2.21M), Foodstuffs ($801k), and Textiles ($441k).

During 2017, Iceland had a large net trade with Philippines in the exports of Animal Products ($262k), Plastics and Rubbers ($58.8k), and Machines ($23.4k).

Bilateral Service Trade

In 2019, Iceland exported services to Philippines worth $5.82M, with Travel ($5.49M) and Transportation ($336k) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland (Flag) to Philippines (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Philippines (Flag) and Iceland (Flag) (2022)

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