2023
Flag  
GDP
$1.62TCURRENT US$
Rnk 15 / 195
2013-2023
Flag
GDP GROWTH
18.9%CURRENT US$
Rnk 143 / 195
2023
Flag
 GDP
$437BCURRENT US$
Rnk 33 / 195
2013-2023
Flag
GDP GROWTH
54%CURRENT US$
Rnk 67 / 195
2023
Flag
GDP PC 
$33,509CURRENT US$
Rnk 40 / 195
2013-2023
Flag
GDP PC GROWTH
14.7%CURRENT US$
Rnk 119 / 195
2023
Flag
GDP PC
$3,805CURRENT US$
Rnk 133 / 196
2013-2023
Flag
GDP PC GROWTH
36.8%CURRENT US$
Rnk 65 / 195

About

Spain-Philippines Trade: In 2023, Spain exported $876M to Philippines. The main products that Spain exported to Philippines were Hard Liquor ($224M), Edible Offal ($102M), and Pig Meat ($67.3M). Over the past 5 years the exports of Spain to Philippines have increased at an annualized rate of 5.42%, from $673M in 2018 to $876M in 2023.

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

Philippines-Spain Trade: In 2023, Philippines exported $430M to Spain. The main products that Philippines exported to Spain were Coconut Oil ($84.8M), Processed Fish ($39.2M), and Electric Heaters ($34.6M). Over the past 5 years the exports of Philippines to Spain have increased at an annualized rate of 4.11%,  from $352M in 2018 to $430M in 2023.

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

Comparison: In 2023,  Spain ranked 31 in the Economic Complexity Index (ECI 0.86), and 16 in total exports ($402B). That same year, Philippines ranked 40 in the Economic Complexity Index (ECI 0.64), and 42 in total exports ($101B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Spain exported $876M to Philippines. The main products exported from Spain to Philippines were Hard Liquor ($224M), Edible Offal ($102M), and Pig Meat ($67.3M). During the last 5 years the exports of Spain to Philippines have increased at an annualized rate of 5.42%, from $673M in 2018 to $876M in 2023.

In 2018, Philippines exported $430M to Spain. The main products exported from Philippines to Spain were Coconut Oil ($84.8M), Processed Fish ($39.2M), and Electric Heaters ($34.6M). During the last 5 years the exports of Philippines to Spain have increased at an annualized rate of 4.11%, from $352M in 2023 to $430M in 2018.

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

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

Market Competitiveness

Color
Spain
Top Destination
France$61.9B
Philippines
Top Destination
China$19B

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

In 2023, countries that imported more from Spain than Philippines included France ($61.9B), Portugal ($38.1B), and Germany ($40.2B).

In 2023, countries that imported more from Philippines than Spain included Hong Kong ($11.7B), China ($19B), and Japan ($11.4B).

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

Comparative Advantage Spain - Philippines

Flow
Scale

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

During 2023, Spain had a large net trade with Philippines in the exports of Foodstuffs ($292M), Animal Products ($245M), and Chemical Products ($110M).

During 2018, Philippines had a large net trade with Spain in the exports of Machines ($175M), Animal and Vegetable Bi-Products ($89.6M), and Foodstuffs ($81.7M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Spain Philippines+$23.2MPackaged Medicaments
Top Product Potential Philippines Spain+$37.1MIntegrated 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 Spain and Philippines. This means that a dot/product with the flag of Spain indicates it has a comparative advantage over Philippines. Similarly, a dot/product with the flag of Philippines indicates it has a comparative advantage over Spain.

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

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