United States (USA) and Philippines (PHL) Trade

2023

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Exports $8.75BRnk 35 / 220

2023

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About

United States-Philippines Trade: In 2023, United States exported $8.75B to Philippines. The main products that United States exported to Philippines were Integrated Circuits ($1.74B), Soybean Meal ($1.13B), and Wheat ($795M). Over the past 5 years the exports of United States to Philippines have increased at an annualized rate of 0.37%, from $8.59B in 2018 to $8.75B in 2023.

In 2017, United States exported services to Philippines worth $3.27B, with Travel ($1.1B), Financial services ($509M), and Transportation ($445M) being the largest in terms of value.

Philippines-United States Trade: In 2023, Philippines exported $13.3B to United States. The main products that Philippines exported to United States were Office Machine Parts ($1.44B), Integrated Circuits ($1.39B), and Insulated Wire ($1.03B). Over the past 5 years the exports of Philippines to United States have decreased at an annualized rate of 1.89%, from $14.6B in 2018 to $13.3B in 2023.

In 2023, Philippines did not export any services to United States.

Comparison: In 2023, United States ranked 10 in the Economic Complexity Index (ECI 1.5), and 2 in total exports ($1.86T). That same year, Philippines ranked 40 in the Economic Complexity Index (ECI 0.64), and 42 in total exports ($101B).

Company data: In 2023, leading companies such as Del Monte Foods (741), Yokohama Industries (278), and ABB Motors and Mechanical (197) were at the forefront of exporting goods from Philippines to the United States. Conversely, Other (974), Philpack (578), and Krislur Castomech Pvt Ltd (195) were notable for importing products to Philippines from the United States.

Latest Trends

November, 2024

About

Overview In November 2024, United States exported $712M and imported $1.44B from Philippines, resulting in a negative trade balance of $730M. Between November 2023 and November 2024 the exports of United States have decreased by $-59.2M (-7.67%) from $772M to $712M, while imports increased by $332M (29.9%) from $1.11B to $1.44B.

Trade In November 2024, the top exports of United States to Philippines were Integrated Circuits ($125M), Oil Seed Flower ($104M), Aircraft parts (gliders, balloons, and powered... ($74.2M), Wheat ($69.6M), and Semiconductor Devices ($29.4M). In November 2024 the top imports of United States from Philippines were Integrated Circuits ($125M), Insulated Wire ($76.6M), Industrial Printers ($59.2M), Telephones ($58.2M), and Electrical Transformers ($46.7M).

Origins In November 2024 the exports of United States were mainly from Washington ($136M), Texas ($107M), California ($101M), Tennessee ($44.8M), and Oregon ($34.1M), while imports destinations were mainly California ($600M), Texas ($89M), Kentucky ($81.7M), Tennessee ($59M), and Georgia ($49.6M).

Growth In November 2024, the decrease in United States's year-by-year exports to Philippines was explained primarily by an decrease in product exports in Soybean Meal ($-32.8M or -55.4%), Vaccines, blood, antisera, toxins and cultures ($-23.2M or -85.7%), and Wheat ($-12.2M or -14.9%). In November 2024, the increase in United States's year-by-year imports from Philippines was explained primarily by an increase in product imports in Integrated Circuits ($23.1M or 22.6%), Video Displays ($19.7M or 145%), and Industrial Printers ($15.2M or 34.5%).

Latest Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Value

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

EXPORT GROWTH (November 2023 - November 2024)$-59.2M(-7.67%)

IMPORT GROWTH (November 2023 - November 2024)$332M(29.9%)

MAIN EXPORTER (November 2024)Washington$136M

This section shows exports and imports data at subnational level for United States. Click any date in the line plot, any subnational region in the geomap or any product to explore the exports or imports behavior of United States over time.

To check Philippines and United States trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, United States exported $8.75B to Philippines. The main products exported from United States to Philippines were Integrated Circuits ($1.74B), Soybean Meal ($1.13B), and Wheat ($795M). During the last 5 years the exports of United States to Philippines have increased at an annualized rate of 0.37%, from $8.59B in 2018 to $8.75B in 2023.

In 2018, Philippines exported $13.3B to United States. The main products exported from Philippines to United States were Office Machine Parts ($1.44B), Integrated Circuits ($1.39B), and Insulated Wire ($1.03B). During the last 5 years the exports of Philippines to United States have decreased at an annualized rate of 1.89%, from $14.6B in 2023 to $13.3B in 2018.

Exports from United States () to Philippines () (2023)

Exports from Philippines () to United States () (2023)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$269B

Philippines
Top DestinationChina$19B

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

In 2023, countries that imported more from United States than Philippines included Canada ($269B), Mexico ($243B), and China ($154B).

In 2023, countries that imported more from Philippines than United States included Guam ($22.7M), Northern Mariana Islands ($4.48M), and American Samoa ($3.47M).

Difference in imports from Philippines () and United States () (2023)

Comparative Advantage United States - Philippines

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, United States had a large net trade with Philippines in the exports of Machines ($3.14B), Foodstuffs ($1.86B), and Vegetable Products ($949M).

During 2018, Philippines had a large net trade with United States in the exports of Machines ($8.48B), Foodstuffs ($671M), and Instruments ($569M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential United States Philippines+$106MRefined Petroleum

Top Product Potential Philippines United States+$1BIntegrated 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

Year

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

Product Space of United States () and Philippines () (2023)

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