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Pricing

2022
Flag → Flag
Exports $12.5BRnk 11 / 220
2022
Flag → Flag
Top Product $4.55BRefined Petroleum
2022
Flag → Flag
Exports $4.22BRnk 8 / 205
2022
Flag → Flag
Top Product $810MIntegrated Circuits
2022
Flag
Economic Complexity (ECI) ECI 1.78Rnk 4 / 133
2022
Flag
Economic Complexity (ECI) ECI 0.71Rnk 37 / 133
2022
Flag  
GDP$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
 GDP$404BCURRENT US$
Rnk 38 / 186
2012-2022
Flag
GDP GROWTH54.4%CURRENT US$
Rnk 51 / 186
2022
Flag
GDP PC $32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH26.7%CURRENT US$
Rnk 70 / 186
2022
Flag
GDP PC$3,499CURRENT US$
Rnk 129 / 186
2012-2022
Flag
GDP PC GROWTH30.9%CURRENT US$
Rnk 61 / 186

About

South Korea-Philippines Trade: In 2022, South Korea exported $12.5B 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 2.23%, from $11.2B in 2017 to $12.5B 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.

Philippines-South Korea Trade: In 2022, Philippines exported $4.22B 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 decreased at an annualized rate of 0.13%,  from $4.26B in 2017 to $4.22B in 2022.

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

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

Latest Trends

August, 2024

About

Overview In August 2024, South Korea exported $900M and imported $356M from Philippines, resulting in a positive trade balance of $544M. Between August 2023 and August 2024 the exports of South Korea have increased by $125M (16.1%) from $775M to $900M, while imports decreased by $-26.4M (-6.91%) from $382M to $356M.

Trade In August 2024, the top exports of South Korea to Philippines were Mineral fuels, mineral oils and products... ($388M), Electrical machinery and electronics ($247M), Machinery, mechanical appliances, & parts ($26.2M), Plastics & articles thereof ($21.9M), and Copper articles ($21M). In August 2024 the top imports of South Korea from Philippines were Electrical machinery and electronics ($311M), Mineral fuels, mineral oils and products... ($31.6M), Copper articles ($22.9M), Edible fruits, nuts & fruit peels ($19.7M), and Ores, slag and ash ($10.4M).

Growth In August 2024, the increase in South Korea's year-by-year exports to Philippines was explained primarily by an increase in product exports in Mineral fuels, mineral oils and products... ($104M or 36.6%), Optical, photo, & film equipment; medical... ($5.66M or 115%), and Cars, tractors, trucks & parts thereof. ($4.83M or 49.2%). In August 2024, the decrease in South Korea's year-by-year imports  from Philippines was explained primarily by an decrease in product imports  in Ores, slag and ash ($-30.5M or -74.6%), Animal or vegetable fats, oils, &... ($-5.24M or -80.6%), and Iron & steel ($-3.41M or -74.8%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (August 2023 - August 2024)$125M(16.1%)
IMPORT GROWTH (August 2023 - August 2024)$-26.4M(-6.91%)

This section shows exports and imports data at subnational level for South Korea. Click any date in the line plot or any product to explore the exports or imports behavior of South Korea over time.

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

For full datasets download visit Bulk Download page.

Explore Philippines and South Korea Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, South Korea exported $12.5B 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 5 years the exports of South Korea to Philippines have increased at an annualized rate of 2.23%, from $11.2B in 2017 to $12.5B in 2022.

In 2017, Philippines exported $4.22B 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 decreased at an annualized rate of 0.13%, from $4.26B in 2022 to $4.22B in 2017.

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

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

Market Competitiveness

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

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

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

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

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

Comparative Advantage South Korea - Philippines

Flow
Scale

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

During 2022, South Korea had a large net trade with Philippines in the exports of Machines ($5.07B), Mineral Products ($4.63B), and Metals ($686M).

During 2017, Philippines had a large net trade with South Korea in the exports of Machines ($2B), Mineral Products ($814M), and Metals ($360M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential South Korea Philippines+$104MCars
Top Product Potential Philippines South Korea+$622MIntegrated 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 South Korea and Philippines. This means that a dot/product with the flag of South Korea indicates it has a comparative advantage over Philippines. Similarly, a dot/product with the flag of Philippines indicates it has a comparative advantage over South Korea.

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

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