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Philippines Trade Summary

2023

Philippines exports, imports, tariff by year.

Country and Region
Year
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Please note the exports, imports and tariff data are based on reported data and not gap filled. Please check the Data Availability for coverage.

Imports/Exports


Products

TRADE SUMMARY FOR PHILIPPINES 2023

Overall Exports and Imports for Philippines 2023

Exports and imports of Philippines in 2023 are below, along with number of countries and products

  • The total value of exports (FoB) was 72,923 million.
  • The total value of imports (CIF) was 133,752 million.
  • At the HS6 digit level, 2,828 products were exported to 197 countries and 4,274 products were imported from 214 countries.

Philippines top 5 Export and Import partners 2023

Top five countries to which Philippines exported in 2023 are below, along with the percent of total exports that went to that country:

  1. Philippines exports to United States worth US$ 11,429 million, with a partner share of 15.67 percent.
  2. Philippines exports to China worth US$ 10,648 million, with a partner share of 14.60 percent.
  3. Philippines exports to Japan worth US$ 10,425 million, with a partner share of 14.30 percent.
  4. Philippines exports to Hong Kong, China worth US$ 8,773 million, with a partner share of 12.03 percent.
  5. Philippines exports to Singapore worth US$ 3,521 million, with a partner share of 4.83 percent.

Top five countries from which Philippines imported goods in 2023 are below, along with percent of total imports that came from the country :

  1. Philippines imports from China worth US$ 30,934 million, with a partner share of 23.13 percent.
  2. Philippines imports from Indonesia worth US$ 12,284 million, with a partner share of 9.18 percent.
  3. Philippines imports from Japan worth US$ 10,921 million, with a partner share of 8.16 percent.
  4. Philippines imports from United States worth US$ 9,113 million, with a partner share of 6.81 percent.
  5. Philippines imports from Korea, Rep. worth US$ 8,880 million, with a partner share of 6.64 percent.

Philippines Top 5 Productsexports imports at HS 6 digit level 2023

The top five exported HS 6 digit level products to world by Philippines along with trade value are:

  1. Philippines exported Monolithic integrated circuits, digital , worth 25,900,911.70 (US$ Thousands).
  2. Philippines exported Parts and accessories of automatic data process , worth 3,560,722.28 (US$ Thousands).
  3. Philippines exported Ignition wiring sets&oth wiring sets of a kind , worth 2,658,005.81 (US$ Thousands).
  4. Philippines exported Copper cathodes and sections of cathodes unwrou , worth 1,941,133.02 (US$ Thousands).
  5. Philippines exported Bananas, including plantains, fresh or dried , worth 1,220,477.66 (US$ Thousands).

The top five imported HS 6 digit level products from world by Philippines along with trade value are

  1. Philippines imported Monolithic integrated circuits, digital , worth 12,112,227.03 (US$ Thousands).
  2. Philippines imported Petroleum oils, etc, (excl. crude); preparation , worth 11,220,061.04 (US$ Thousands).
  3. Philippines imported Petroleum oils and oils obtained from bituminou , worth 4,162,595.74 (US$ Thousands).
  4. Philippines imported Other coal, not agglomerated, nes , worth 3,467,573.10 (US$ Thousands).
  5. Philippines imported Copper ores and concentrates , worth 3,265,666.74 (US$ Thousands).

Exports and Imports of Product Groups 2023

Exports and imports of products by stages of processing in 2023 are below along with their corresponding Product Share as percent of total export or import

Tariffs 2023

Tariffs imposed by Philippines in 2023 are below

  • The maximum rate of tariff in percentage on any product was 65 percent.
  • The simple average tariff across all products was 3.81 percent.
  • The trade weighted average tariff was 1.96 .
  • The total duty free imports in thousands of US dollars were 89,856,265.12 and duty free tariff line items share was 47.91 percent.

Development Indicators 2023

Key Development Indicators of Philippines in 2023 are below

  • Philippines GDP in current US dollar was 437,056 million.
  • GNI per capita, Atlas method (current US$) was 4,320.00 .
  • Philippines Trade balance: as % of GDP was -14.15.
  • Trade balance in current US$ was -61,827.00 million.
  • Trade as percentage of GDP was 67.42 .
  • Trade in services as percentage of GDP was 17.96 .

Trade Indicators 2023

Trade Indicators for Philippines in 2023 are below

  • Hirschman Herfindahl market concentration index was 0.08.
  • Index of export market penetration was 9.36.
  • World Growth in percentage was -3.13 and Philippines Country Growth was -9.58 .