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2023
Flag → Flag
Exports $5.16MRnk 98 / 201
2023
Flag → Flag
Top Product $726kOffice Machine Parts
2023
Flag → Flag
Exports $612kRnk 88 / 157
2023
Flag → Flag
Top Product $249kNon-fillet Frozen Fish
2023
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 132
2023
Flag  
GDP$437BCURRENT US$
Rnk 33 / 195
2013-2023
Flag
GDP GROWTH54%CURRENT US$
Rnk 67 / 195
2023
Flag
 GDP$31.3BCURRENT US$
Rnk 107 / 195
2013-2023
Flag
GDP GROWTH94.3%CURRENT US$
Rnk 17 / 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$79,637CURRENT US$
Rnk 11 / 196
2013-2023
Flag
GDP PC GROWTH59.9%CURRENT US$
Rnk 31 / 195

About

Philippines-Iceland Trade: In 2023, Philippines exported $5.16M to Iceland. The main products that Philippines exported to Iceland were Office Machine Parts ($726k), Electrical Transformers ($516k), and Electrical Control Boards ($511k). Over the past 5 years the exports of Philippines to Iceland have increased at an annualized rate of 3.45%, from $4.36M in 2018 to $5.16M in 2023.

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

Iceland-Philippines Trade: In 2023, Iceland exported $612k to Philippines. The main products that Iceland exported to Philippines were Non-fillet Frozen Fish ($249k), Planes, Helicopters, and/or Spacecraft ($178k), and Kaolin Coated Paper ($67.5k). Over the past 5 years the exports of Iceland to Philippines have decreased at an annualized rate of 20%,  from $1.87M in 2018 to $612k in 2023.

In 2019, Iceland exported services to Philippines worth $5.82M, with Travel ($5.49M) and Transportation ($336k) being the largest in terms of value.

Comparison In 2023,  Philippines ranked 40 in the Economic Complexity Index (ECI 0.64),  and 42 in total exports ($101B). That same year, Iceland ranked 115 in total exports ($7.31B), and does not have data regarding Economic Complexity Index.

Latest Trends

July, 2024

About

Overview In July 2024, Philippines exported $212k and imported $25.1M from Iceland, resulting in a negative trade balance of $24.9M. Between July 2023 and July 2024 the exports of Philippines have increased by $86.3k (68.8%) from $125k to $212k, while imports increased by $25.1M (1.67M%) from $1.5k to $25.1M.

Trade In July 2024, the top exports of Philippines to Iceland were Other Processed Fruits and Nuts ($20.1k), Imitation Jewellery ($5.37k), Integrated Circuits ($1.74k), Aircraft parts (gliders, balloons, and powered... ($634), and Wood Ornaments ($37). In July 2024 the top imports of Philippines from Iceland were Other Plastic Products ($2k), Ball Bearings ($1.02k), Commodities not elsewhere specified ($699), and Margarine ($206).

Growth In July 2024, the increase in Philippines's year-by-year exports to Iceland was explained primarily by an increase in product exports in Imitation Jewellery ($568 or 11.8%). In July 2024, the increase in Philippines's year-by-year imports  from Iceland was explained primarily by an increase in product imports  in .

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$86.3k(68.8%)
IMPORT GROWTH (July 2023 - July 2024)$25.1M(1.67M%)

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 Iceland and Philippines trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Iceland and Philippines Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Philippines exported $5.16M to Iceland. The main products exported from Philippines to Iceland were Office Machine Parts ($726k), Electrical Transformers ($516k), and Electrical Control Boards ($511k). During the last 5 years the exports of Philippines to Iceland have increased at an annualized rate of 3.45%, from $4.36M in 2018 to $5.16M in 2023.

In 2018, Iceland exported $612k to Philippines. The main products exported from Iceland to Philippines were Non-fillet Frozen Fish ($249k), Planes, Helicopters, and/or Spacecraft ($178k), and Kaolin Coated Paper ($67.5k). During the last 5 years the exports of Iceland to Philippines have decreased at an annualized rate of 20%, from $1.87M in 2023 to $612k in 2018.

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

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

Market Competitiveness

Color
Philippines
Top DestinationChina$19B
Iceland
Top DestinationNetherlands$1.97B

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

In 2023, countries that imported more from Philippines than Iceland included China ($19B), United States ($13.3B), and Hong Kong ($11.7B).

In 2023, countries that imported more from Iceland than Philippines included Norway ($444M), Denmark ($228M), and Greenland ($72.3M).

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

Comparative Advantage Philippines - Iceland

Flow
Scale

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

During 2023, Philippines had a large net trade with Iceland in the exports of Machines ($2.33M), Instruments ($562k), and Foodstuffs ($559k).

During 2018, Iceland had a large net trade with Philippines in the exports of Animal Products ($251k), Transportation ($178k), and Paper Goods ($67.6k).

Bilateral Service Trade

In 2019, Iceland exported services to Philippines worth $5.82M, with Travel ($5.49M) and Transportation ($336k) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Iceland (Flag) to Philippines (Flag) (2019)

Service Trade

Economic Complexity

Competitive Landscape

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

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

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