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2023
Flag → Flag
Exports $4.81BRnk 6 / 201
2023
Flag → Flag
Top Product $3.25BIntegrated Circuits
2023
Flag → Flag
Exports $7.49BRnk 13 / 217
2023
Flag → Flag
Top Product $1.82BRefined Petroleum
2023
Flag
Economic Complexity (ECI) ECI 0.64Rnk 40 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.62Rnk 6 / 132
2023
Flag  
GDP$437BCURRENT US$
Rnk 33 / 195
2013-2023
Flag
GDP GROWTH54%CURRENT US$
Rnk 67 / 195
2023
Flag
 GDP$501BCURRENT US$
Rnk 30 / 195
2013-2023
Flag
GDP GROWTH63%CURRENT US$
Rnk 47 / 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$84,734CURRENT US$
Rnk 8 / 196
2013-2023
Flag
GDP PC GROWTH48.7%CURRENT US$
Rnk 50 / 195

About

Philippines-Singapore Trade: In 2023, Philippines exported $4.81B to Singapore. The main products that Philippines exported to Singapore were Integrated Circuits ($3.25B), Semiconductor Devices ($295M), and Office Machine Parts ($123M). Over the past 5 years the exports of Philippines to Singapore have decreased at an annualized rate of 12.5%, from $9.37B in 2018 to $4.81B in 2023.

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

Singapore-Philippines Trade: In 2023, Singapore exported $7.49B to Philippines. The main products that Singapore exported to Philippines were Refined Petroleum ($1.82B), Integrated Circuits ($1.09B), and Special Purpose Ships ($605M). Over the past 5 years the exports of Singapore to Philippines have increased at an annualized rate of 2.87%,  from $6.5B in 2018 to $7.49B in 2023.

In 2023, Singapore 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, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B).

Latest Trends

July, 2024

About

Overview In July 2024, Philippines exported $221M and imported $534M from Singapore, resulting in a negative trade balance of $313M. Between July 2023 and July 2024 the exports of Philippines have decreased by $-79.8M (-26.5%) from $301M to $221M, while imports decreased by $-19.7M (-3.55%) from $553M to $534M.

Trade In July 2024, the top exports of Philippines to Singapore were Commodities not elsewhere specified ($119M), Integrated Circuits ($86.3M), Copper Ore ($39.4M), Oscilloscopes ($11.5M), and Aircraft parts (gliders, balloons, and powered... ($8.42M). In July 2024 the top imports of Philippines from Singapore were Refined Petroleum ($143M), Integrated Circuits ($77.4M), Telephones ($77.3M), Other Sea Vessels ($62M), and Commodities not elsewhere specified ($54.2M).

Growth In July 2024, the decrease in Philippines's year-by-year exports to Singapore was explained primarily by an decrease in product exports in Integrated Circuits ($-78.6M or -47.7%), Commodities not elsewhere specified ($-24.1M or -16.8%), and Computers ($-9.01M or -63.2%). In July 2024, the decrease in Philippines's year-by-year imports  from Singapore was explained primarily by an decrease in product imports  in Blank Audio Media ($-27.5M or -96.6%), Commodities not elsewhere specified ($-24M or -30.7%), and Computers ($-15.7M or -50.8%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (July 2023 - July 2024)$-79.8M(-26.5%)
IMPORT GROWTH (July 2023 - July 2024)$-19.7M(-3.55%)

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 Singapore and Philippines trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Singapore and Philippines Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Philippines exported $4.81B to Singapore. The main products exported from Philippines to Singapore were Integrated Circuits ($3.25B), Semiconductor Devices ($295M), and Office Machine Parts ($123M). During the last 5 years the exports of Philippines to Singapore have decreased at an annualized rate of 12.5%, from $9.37B in 2018 to $4.81B in 2023.

In 2018, Singapore exported $7.49B to Philippines. The main products exported from Singapore to Philippines were Refined Petroleum ($1.82B), Integrated Circuits ($1.09B), and Special Purpose Ships ($605M). During the last 5 years the exports of Singapore to Philippines have increased at an annualized rate of 2.87%, from $6.5B in 2023 to $7.49B in 2018.

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

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

Market Competitiveness

Color
Philippines
Top DestinationChina$19B
Singapore
Top DestinationHong Kong$44.5B

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

In 2023, countries that imported more from Philippines than Singapore included Japan ($11.4B), Mexico ($3.02B), and Canada ($1.59B).

In 2023, countries that imported more from Singapore than Philippines included Hong Kong ($44.5B), Malaysia ($31.4B), and United States ($32.9B).

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

Comparative Advantage Philippines - Singapore

Flow
Scale

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

During 2023, Philippines had a large net trade with Singapore in the exports of Machines ($4.19B), Instruments ($142M), and Mineral Products ($116M).

During 2018, Singapore had a large net trade with Philippines in the exports of Machines ($2.87B), Mineral Products ($1.83B), and Transportation ($819M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Philippines Singapore+$755MIntegrated Circuits
Top Product Potential Singapore Philippines+$255MIntegrated 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 Philippines and Singapore. This means that a dot/product with the flag of Philippines indicates it has a comparative advantage over Singapore. Similarly, a dot/product with the flag of Singapore indicates it has a comparative advantage over Philippines.

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

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