About

Overview In 2021, Philippines was the number N/A economy in the world in terms of GDP (current US$), the number 41 in total exports, the number 33 in total imports, the number N/A economy in terms of GDP per capita (current US$) and the number 37 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Philippines are N/A, exporting mostly to China ($15.1B), United States ($13.3B), Japan ($11.5B), Hong Kong ($11.4B), and Singapore ($6.19B).

Imports The top imports of Philippines are N/A, importing mostly from China ($48.9B), Japan ($10.4B), South Korea ($9.23B), Indonesia ($9.21B), and United States ($8.16B).

Location Philippines borders China, Indonesia, Japan, Malaysia, Palau, and Vietnam by sea.

Latest Trends

August, 2021

Historical Data

Yearly Trade

Flow
Color
Depth
N/A
N/AN/A
N/AN/A

N/A

N/A

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Exports (2021)
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Destinations (2021)
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Market Growth

Flow
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Fastest Growing Export Markets (2020 - 2021)
United States$2.33B (+ 21.2%)
Hong Kong$1.32B (+ 13.1%)
Japan$1.12B (+ 10.7%)
Fastest Growing Import Markets (2020 - 2021)
China$12.6B (+ 34.6%)
Indonesia$2.79B (+ 43.5%)
Thailand$2.11B (+ 40.5%)

Total Export Growth by Market (2020 - 2021)

Service Trade

Service Trade

Philippines Exports Services (2018)$34.2B
Philippines Imports Services (2018)$26.7B

In 2018, Philippines exported $34.2B worth of services. The top services exported by Philippines in 2018 were Other business services ($16.7B), Personal travel ($8.2B), Computer and information services ($5.94B), Transportation ($2.7B), and Financial services ($279M).

The top services imported by Philippines in 2018 were N/A.

Service Exports (2018)

Service Imports (2018)

Economic Complexity

Overview

Economic Complexity (Trade)0.72Rank 37 of 131
Economic Complexity (Research)-0.22Rank 80 of 140

Most Specialized Products by RCA Index

Philippines has a high level of specialization in N/A. Specialization is measured using RCA, an index that takes the ratio between Philippines observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Philippines according to the product complexity index (PCI) are N/A. PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Philippines according to the relatedness index, were Other Edible Animal Products (0.2), Rubber Apparel (0.19), Tin Ores (0.19), Cloves (0.18), and Incomplete Movement Sets (0.18). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Philippines is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Philippines. These are products that tend to be co-exported with the products that Philippines exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Philippines's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨69th to the 37th⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

Explore Rankings

ECI (Trade) Ranking by Country

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