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2023
Flag → Flag
Exports $354MRnk 25 / 201
2023
Flag → Flag
Top Product $57.9MElectric Heaters
2023
Flag → Flag
Exports $930MRnk 69 / 219
2023
Flag → Flag
Top Product $144MIntegrated Circuits
2023
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.29Rnk 18 / 132
2023
Flag  
GDP$437BCURRENT US$
Rnk 33 / 195
2013-2023
Flag
GDP GROWTH54%CURRENT US$
Rnk 67 / 195
2023
Flag
 GDP$2.3TCURRENT US$
Rnk 8 / 195
2013-2023
Flag
GDP GROWTH6.86%CURRENT US$
Rnk 165 / 195
2023
Flag
GDP PC $3,805CURRENT US$
Rnk 133 / 195
2013-2023
Flag
GDP PC GROWTH36.8%CURRENT US$
Rnk 65 / 195
2023
Flag
GDP PC$39,003CURRENT US$
Rnk 32 / 196
2013-2023
Flag
GDP PC GROWTH9.11%CURRENT US$
Rnk 136 / 195

About

Philippines-Italy Trade: In 2023, Philippines exported $354M to Italy. The main products that Philippines exported to Italy were Electric Heaters ($57.9M), Coconut Oil ($47.8M), and Other Domestic Electric Housewares ($34.6M). Over the past 5 years the exports of Philippines to Italy have increased at an annualized rate of 1.9%, from $322M in 2018 to $354M in 2023.

In 2023, Philippines did not export any services to Italy.

Italy-Philippines Trade: In 2023, Italy exported $930M to Philippines. The main products that Italy exported to Philippines were Integrated Circuits ($144M), Packaged Medicaments ($68.2M), and Animal Food ($34.1M). Over the past 5 years the exports of Italy to Philippines have increased at an annualized rate of 3.37%,  from $788M in 2018 to $930M in 2023.

In 2020, Italy exported services to Philippines worth $28.2M, with Travel ($15.1M), Other business services ($6.51M), and Royalties and license fees ($3.31M) being the largest in terms of value.

Comparison: In 2023,  Philippines ranked 40 in the Economic Complexity Index (ECI 0.64), and 42 in total exports ($101B). That same year, Italy ranked 18 in the Economic Complexity Index (ECI 1.29), and 6 in total exports ($638B).

Latest Trends

July, 2024

About

Overview In July 2024, Philippines exported $43.5M and imported $99.5M from Italy, resulting in a negative trade balance of $55.9M. Between July 2023 and July 2024 the exports of Philippines have increased by $29.5M (211%) from $14M to $43.5M, while imports increased by $11.1M (12.5%) from $88.4M to $99.5M.

Trade In July 2024, the top exports of Philippines to Italy were Coconut Oil ($12.2M), Integrated Circuits ($2.08M), Jewellery ($1.98M), Electric Heaters ($1.53M), and Air Pumps ($1.05M). In July 2024 the top imports of Philippines from Italy were Integrated Circuits ($14.2M), Commodities not elsewhere specified ($5.91M), Packaged Medicaments ($4.19M), Trunks and Cases ($3.94M), and Jewellery ($2.98M).

Growth In July 2024, the increase in Philippines's year-by-year exports to Italy was explained primarily by an increase in product exports in Integrated Circuits ($1.32M or 172%), Baked Goods ($673k or 1.28k%), and Air Pumps ($521k or 97.6%). In July 2024, the increase in Philippines's year-by-year imports  from Italy was explained primarily by an increase in product imports  in Integrated Circuits ($3.35M or 30.7%), Semiconductor Devices ($2.02M or 231k%), and Trunks and Cases ($1.92M or 95.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$29.5M(211%)
IMPORT GROWTH (July 2023 - July 2024)$11.1M(12.5%)

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 Italy and Philippines trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Italy and Philippines Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Philippines exported $354M to Italy. The main products exported from Philippines to Italy were Electric Heaters ($57.9M), Coconut Oil ($47.8M), and Other Domestic Electric Housewares ($34.6M). During the last 5 years the exports of Philippines to Italy have increased at an annualized rate of 1.9%, from $322M in 2018 to $354M in 2023.

In 2018, Italy exported $930M to Philippines. The main products exported from Italy to Philippines were Integrated Circuits ($144M), Packaged Medicaments ($68.2M), and Animal Food ($34.1M). During the last 5 years the exports of Italy to Philippines have increased at an annualized rate of 3.37%, from $788M in 2023 to $930M in 2018.

Exports from Philippines (Flag) to Italy (Flag) (2023)

Exports from Italy (Flag) to Philippines (Flag) (2023)

Market Competitiveness

Color
Philippines
Top DestinationChina$19B
Italy
Top DestinationGermany$71.4B

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

In 2023, countries that imported more from Philippines than Italy included Hong Kong ($11.7B), Malaysia ($2.15B), and Thailand ($3.13B).

In 2023, countries that imported more from Italy than Philippines included Germany ($71.4B), France ($61.1B), and United States ($70.9B).

Difference in imports from Italy (Flag) and Philippines (Flag) (2023)

Comparative Advantage Philippines - Italy

Flow
Scale

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

During 2023, Philippines had a large net trade with Italy in the exports of Machines ($177M), Animal and Vegetable Bi-Products ($47.9M), and Textiles ($24.5M).

During 2018, Italy had a large net trade with Philippines in the exports of Machines ($380M), Chemical Products ($114M), and Foodstuffs ($114M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Philippines Italy+$52.9MIntegrated Circuits
Top Product Potential Italy Philippines+$36.7MPackaged Medicaments

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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Bilateral Service Trade

In 2020, Italy exported services to Philippines worth $28.2M, with Travel ($15.1M), Other business services ($6.51M), and Royalties and license fees ($3.31M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Italy (Flag) to Philippines (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Philippines (Flag) and Italy (Flag) (2023)

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