NEW: World Trade TARIFFS Simulator!
NEW: 2023 Data and Complexity Rankings
Sign In
Pricing

2023
Flag → Flag
Exports $6.1MRnk 93 / 201
2023
Flag → Flag
Top Product $1.39MOffice Machine Parts
2023
Flag → Flag
Exports $5.06MRnk 59 / 146
2023
Flag → Flag
Top Product $4.39MPassenger and Cargo Ships
2023
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 132
2023
Flag
Economic Complexity (ECI) ECI -0.14Rnk 69 / 132
2023
Flag  
GDP$437BCURRENT US$
Rnk 33 / 195
2013-2023
Flag
GDP GROWTH54%CURRENT US$
Rnk 67 / 195
2023
Flag
 GDP$83.3BCURRENT US$
Rnk 76 / 195
2013-2023
Flag
GDP GROWTH77.5%CURRENT US$
Rnk 32 / 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$18,686CURRENT US$
Rnk 65 / 196
2013-2023
Flag
GDP PC GROWTH52.3%CURRENT US$
Rnk 43 / 195

About

Philippines-Panama Trade: In 2023, Philippines exported $6.1M to Panama. The main products that Philippines exported to Panama were Office Machine Parts ($1.39M), Aircraft parts (gliders, balloons, and powered aircraft) ($1.24M), and Base Metal Watches ($616k). Over the past 5 years the exports of Philippines to Panama have decreased at an annualized rate of 22.8%, from $22.3M in 2018 to $6.1M in 2023.

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

Panama-Philippines Trade: In 2023, Panama exported $5.06M to Philippines. The main products that Panama exported to Philippines were Passenger and Cargo Ships ($4.39M), Safety Glass ($316k), and Pesticides ($88.4k). Over the past 5 years the exports of Panama to Philippines have increased at an annualized rate of 23.3%,  from $1.78M in 2018 to $5.06M in 2023.

In 2023, Panama 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, Panama ranked 69 in the Economic Complexity Index (ECI -0.14), and 121 in total exports ($6.59B).

Latest Trends

July, 2024

About

Overview In July 2024, Philippines exported $1.01M and imported $104k from Panama, resulting in a positive trade balance of $908k. Between July 2023 and July 2024 the exports of Philippines have decreased by $-276k (-21.4%) from $1.29M to $1.01M, while imports increased by $14.1k (15.7%) from $90.2k to $104k.

Trade In July 2024, the top exports of Philippines to Panama were Industrial Printers ($220k), Aircraft parts (gliders, balloons, and powered... ($95.7k), Trunks and Cases ($61.9k), Non-Knit Active Wear ($41k), and Sports Equipment ($35.3k). In July 2024 the top imports of Philippines from Panama were Safety Glass ($40k), Other Plastic Products ($320), and Other Electrical Machinery ($259).

Growth In July 2024, the decrease in Philippines's year-by-year exports to Panama was explained primarily by an decrease in product exports in Industrial Printers ($-393k or -64%) and Textile Footwear ($-105k or -96.9%). In July 2024, the increase in Philippines's year-by-year imports  from Panama was explained primarily by an increase in product imports  in Safety Glass ($24.3k or 154%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$-276k(-21.4%)
IMPORT GROWTH (July 2023 - July 2024)$14.1k(15.7%)

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 Panama and Philippines trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Panama and Philippines Data

Go to Bulk Download

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Philippines exported $6.1M to Panama. The main products exported from Philippines to Panama were Office Machine Parts ($1.39M), Aircraft parts (gliders, balloons, and powered aircraft) ($1.24M), and Base Metal Watches ($616k). During the last 5 years the exports of Philippines to Panama have decreased at an annualized rate of 22.8%, from $22.3M in 2018 to $6.1M in 2023.

In 2018, Panama exported $5.06M to Philippines. The main products exported from Panama to Philippines were Passenger and Cargo Ships ($4.39M), Safety Glass ($316k), and Pesticides ($88.4k). During the last 5 years the exports of Panama to Philippines have increased at an annualized rate of 23.3%, from $1.78M in 2023 to $5.06M in 2018.

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

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

Market Competitiveness

Color
Philippines
Top DestinationChina$19B
Panama
Top DestinationChina$1.62B

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

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

In 2023, countries that imported more from Panama than Philippines included Costa Rica ($307M), Denmark ($239M), and Dominican Republic ($148M).

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

Comparative Advantage Philippines - Panama

Flow
Scale

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

During 2023, Philippines had a large net trade with Panama in the exports of Machines ($1.82M), Transportation ($1.26M), and Instruments ($644k).

During 2018, Panama had a large net trade with Philippines in the exports of Transportation ($4.39M), Stone And Glass ($316k), and Chemical Products ($88.4k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Philippines Panama+$1.29MIndustrial Printers
Top Product Potential Panama Philippines+$18kCoffee

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.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

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

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

Keep Exploring

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with
About the OECPrivacy PolicyTerms