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2023
Flag → Flag
Exports $430MRnk 24 / 201
2023
Flag → Flag
Top Product $84.8MCoconut Oil
2023
Flag → Flag
Exports $876MRnk 54 / 220
2023
Flag → Flag
Top Product $224MHard Liquor
2023
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 132
2023
Flag
Economic Complexity (ECI) ECI 0.86Rnk 31 / 132
2023
Flag  
GDP$437BCURRENT US$
Rnk 33 / 195
2013-2023
Flag
GDP GROWTH54%CURRENT US$
Rnk 67 / 195
2023
Flag
 GDP$1.62TCURRENT US$
Rnk 15 / 195
2013-2023
Flag
GDP GROWTH18.9%CURRENT US$
Rnk 143 / 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$33,509CURRENT US$
Rnk 40 / 196
2013-2023
Flag
GDP PC GROWTH14.7%CURRENT US$
Rnk 119 / 195

About

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.

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.

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

Latest Trends

July, 2024

About

Overview In July 2024, Philippines exported $42.1M and imported $77.1M from Spain, resulting in a negative trade balance of $35M. Between July 2023 and July 2024 the exports of Philippines have increased by $15.8M (60.1%) from $26.3M to $42.1M, while imports increased by $8.48M (12.4%) from $68.6M to $77.1M.

Trade In July 2024, the top exports of Philippines to Spain were Coconut Oil ($6.06M), Commodities not elsewhere specified ($4.55M), Vegetable Saps ($3.13M), Other Processed Fruits and Nuts ($1.8M), and Industrial Printers ($1.11M). In July 2024 the top imports of Philippines from Spain were Hard Liquor ($14.3M), Edible Offal ($7.62M), Scented Mixtures ($4M), Pig Meat ($3.4M), and Plastic Pipes ($2.64M).

Growth In July 2024, the increase in Philippines's year-by-year exports to Spain was explained primarily by an increase in product exports in Commodities not elsewhere specified ($3.35M or 278%), Coconut Oil ($1.96M or 47.7%), and Vegetable Saps ($1.91M or 157%). In July 2024, the increase in Philippines's year-by-year imports  from Spain was explained primarily by an increase in product imports  in Hard Liquor ($10.1M or 242%), Plastic Pipes ($1.05M or 66.2%), and Wine ($776k or 1.03k%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$15.8M(60.1%)
IMPORT GROWTH (July 2023 - July 2024)$8.48M(12.4%)

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 Spain and Philippines trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Spain and Philippines Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, 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 2018 to $430M in 2023.

In 2018, 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 2023 to $876M in 2018.

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

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

Market Competitiveness

Color
Philippines
Top DestinationChina$19B
Spain
Top DestinationFrance$61.9B

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

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

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

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

Comparative Advantage Philippines - Spain

Flow
Scale

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

During 2023, 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).

During 2018, Spain had a large net trade with Philippines in the exports of Foodstuffs ($292M), Animal Products ($245M), and Chemical Products ($110M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Philippines Spain+$37.1MIntegrated Circuits
Top Product Potential Spain Philippines+$23.2MPackaged 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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Economic Complexity

Competitive Landscape

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

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

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