United States (USA) and Philippines (PHL) Trade

2022

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Exports $8.38BRnk 37 / 219

2022

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About

United States-Philippines Trade: In 2022, United States exported $8.38B to Philippines. The main products that United States exported to Philippines were Integrated Circuits ($1.43B), Wheat ($950M), and Concentrated Milk ($413M). Over the past 5 years the exports of United States to Philippines have decreased at an annualized rate of 1.41%, from $9B in 2017 to $8.38B in 2022.

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 2022, Philippines exported $15.5B to United States. The main products that Philippines exported to United States were Office Machine Parts ($2.59B), Integrated Circuits ($1.87B), and Insulated Wire ($950M). Over the past 5 years the exports of Philippines to United States have increased at an annualized rate of 2.22%, from $13.3B in 2017 to $15.5B in 2022.

In 2022, Philippines did not export any services to United States.

Comparison: In 2022, United States ranked 10 in the Economic Complexity Index (ECI 1.47), and 2 in total exports ($1.95T). That same year, Philippines ranked 37 in the Economic Complexity Index (ECI 0.71), and 40 in total exports ($110B).

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

August, 2024

About

Overview In August 2024, United States exported $748M and imported $1.28B from Philippines, resulting in a negative trade balance of $533M. Between August 2023 and August 2024 the exports of United States have decreased by $-59.4M (-7.35%) from $808M to $748M, while imports increased by $192M (17.6%) from $1.09B to $1.28B.

Trade In August 2024, the top exports of United States to Philippines were Integrated Circuits ($125M), Oil Seed Flower ($104M), Aircraft Parts ($74.2M), Wheat ($69.6M), and Semiconductor Devices ($29.4M). In August 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 August 2024 the exports of United States were mainly from Washington ($155M), California ($126M), Texas ($99.1M), Tennessee ($46.3M), and Oregon ($29.5M), while imports destinations were mainly California ($461M), Texas ($74.2M), Tennessee ($70.1M), Georgia ($67M), and Ohio ($58.6M).

Growth In August 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 August 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 (August 2023 - August 2024)$-59.4M(-7.35%)

IMPORT GROWTH (August 2023 - August 2024)$192M(17.6%)

MAIN EXPORTER (August 2024)Washington$155M

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 2022, United States exported $8.38B to Philippines. The main products exported from United States to Philippines were Integrated Circuits ($1.43B), Wheat ($950M), and Concentrated Milk ($413M). During the last 5 years the exports of United States to Philippines have decreased at an annualized rate of 1.41%, from $9B in 2017 to $8.38B in 2022.

In 2017, Philippines exported $15.5B to United States. The main products exported from Philippines to United States were Office Machine Parts ($2.59B), Integrated Circuits ($1.87B), and Insulated Wire ($950M). During the last 5 years the exports of Philippines to United States have increased at an annualized rate of 2.22%, from $13.3B in 2022 to $15.5B in 2017.

Exports from United States () to Philippines () (2022)

Exports from Philippines () to United States () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

United States
Top DestinationCanada$308B

Philippines
Top DestinationUnited States$15.5B

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 2022, countries that imported more from United States than Philippines included Canada ($308B), Mexico ($294B), and China ($151B).

In 2022, countries that imported more from Philippines than United States included Guam ($16.8M), Norfolk Island ($5.29M), and Northern Mariana Islands ($3.85M).

Difference in imports from Philippines () and United States () (2022)

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 2022, United States had a large net trade with Philippines in the exports of Machines ($2.97B), Foodstuffs ($1.26B), and Vegetable Products ($1.12B).

During 2017, Philippines had a large net trade with United States in the exports of Machines ($10.1B), Foodstuffs ($755M), and Textiles ($713M).

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 () (2022)

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