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Pricing

2022
Flag → Flag
Exports $4.26BRnk 8 / 205
2022
Flag → Flag
Top Product $810MIntegrated Circuits
2022
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Exports $11.2BRnk 11 / 220
2022
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Top Product $4.55BRefined Petroleum
2022
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Economic Complexity (ECI) ECI 0.71Rnk 37 / 133
2022
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Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
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GDP$404BCURRENT US$
Rnk 38 / 186
2012-2022
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GDP GROWTH54.4%CURRENT US$
Rnk 51 / 186
2022
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 GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
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GDP GROWTH30.3%CURRENT US$
Rnk 100 / 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$32,255CURRENT US$
Rnk 33 / 186
2012-2022
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GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186

About

Philippines-South Korea Trade: In 2022, Philippines exported $4.26B to South Korea. The main products that Philippines exported to South Korea were Integrated Circuits ($810M), Coal Briquettes ($520M), and Copper Ore ($254M). Over the past 5 years the exports of Philippines to South Korea have increased at an annualized rate of 48.6%, from $588M in 2017 to $4.26B in 2022.

In 2022, Philippines did not export any services to South Korea.

South Korea-Philippines Trade: In 2022, South Korea exported $11.2B to Philippines. The main products that South Korea exported to Philippines were Refined Petroleum ($4.55B), Integrated Circuits ($3.64B), and Copper Wire ($233M). Over the past 5 years the exports of South Korea to Philippines have increased at an annualized rate of 49.6%,  from $1.49B in 2017 to $11.2B in 2022.

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.

Comparison: In 2022,  Philippines ranked 37 in the Economic Complexity Index (ECI 0.71), and 40 in total exports ($110B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Latest Trends

April, 2024

About

Overview In April 2024, Philippines exported $315M and imported $770M from South Korea, resulting in a negative trade balance of $456M. Between April 2023 and April 2024 the exports of Philippines have increased by $60.4M (23.8%) from $254M to $315M, while imports increased by $474k (0.062%) from $770M to $770M.

Trade In April 2024, the top exports of Philippines to South Korea were Integrated Circuits ($43.3M), Commodities not elsewhere specified ($18.2M), Coal Briquettes ($17.4M), Telephones ($14M), and Insulated Wire ($13.6M). In April 2024 the top imports of Philippines from South Korea were Refined Petroleum ($394M), Commodities not elsewhere specified ($167M), Integrated Circuits ($58.1M), Insulated Wire ($16.6M), and Passenger and Cargo Ships ($11.8M).

Growth In April 2024, the increase in Philippines's year-by-year exports to South Korea was explained primarily by an increase in product exports in Telephones ($13.9M or 17.4k%), Printed Circuit Boards ($10.4M or 2.58k%), and Electromagnets ($3.78M or 91.6%). In April 2024, the increase in Philippines's year-by-year imports  from South Korea was explained primarily by an increase in product imports  in Refined Petroleum ($71.7M or 22.3%), Insulated Wire ($9.91M or 148%), and Electrical Transformers ($6.62M or 221%).

Latest Trade

Flow
Time Scale
Depth
Value
EXPORT GROWTH (April 2023 - April 2024)$60.4M(23.8%)
IMPORT GROWTH (April 2023 - April 2024)$474k(0.062%)

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

For full datasets download visit Bulk Download page.

Explore South Korea and Philippines Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Philippines exported $4.26B to South Korea. The main products exported from Philippines to South Korea were Integrated Circuits ($810M), Coal Briquettes ($520M), and Copper Ore ($254M). During the last 5 years the exports of Philippines to South Korea have increased at an annualized rate of 48.6%, from $588M in 2017 to $4.26B in 2022.

In 2017, South Korea exported $11.2B to Philippines. The main products exported from South Korea to Philippines were Refined Petroleum ($4.55B), Integrated Circuits ($3.64B), and Copper Wire ($233M). During the last 22 years the exports of South Korea to Philippines have increased at an annualized rate of 49.6%, from $1.49B in 1995 to $11.2B in 2017.

Exports from Philippines (Flag) to South Korea (Flag) (2022)

Exports from South Korea (Flag) to Philippines (Flag) (2022)

Market Competitiveness

Color
Philippines
Top DestinationUnited States$15.5B
South Korea
Top DestinationChina$150B

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

In 2022, countries that imported more from Philippines than South Korea included Switzerland ($4.1B), Brunei ($138M), and Curaçao ($38.3M).

In 2022, countries that imported more from South Korea than Philippines included China ($150B), United States ($112B), and Vietnam ($60.7B).

Difference in imports from South Korea (Flag) and Philippines (Flag) (2022)

Comparative Advantage Philippines - South Korea

Flow
Scale

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

During 2022, Philippines had a large net trade with South Korea in the exports of Machines ($2B), Mineral Products ($814M), and Metals ($360M).

During 2017, South Korea had a large net trade with Philippines in the exports of Machines ($5.07B), Mineral Products ($4.63B), and Metals ($686M).

Potential Exports

Potential Exports

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

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 Philippines and South Korea. This means that a dot/product with the flag of Philippines indicates it has a comparative advantage over South Korea. Similarly, a dot/product with the flag of South Korea indicates it has a comparative advantage over Philippines.

Product Space of Philippines (Flag) and South Korea (Flag) (2022)

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