globaltraffic.earth

Philippines trade in 2024

In 2024, the Philippines exported $99.4 billion and imported $138.5 billion, a trade deficit of $39.2 billion. It was the world's 42nd-largest exporter, with 0.44% of world exports. Its top export was microchips (23.9% of the total) and its main trading partner was China (23.6% of its trade).

Summary

Exports
$99.4billion
Imports
$138.5billion
Trade balance
-$39.2billion
Routes to the main partners. Width: trade value; color: estimated transport mode.SeaAirLand
View on the 3D globe

Products

What it exports

Microchips (23.9%) and computer and office machine parts (12.5%) together make up 36.4% of its exports.

  1. Microchips$23.7 billion · 23.9%
    Main partner: Hong Kong
  2. Computer and office machine parts$12.4 billion · 12.5%
    Main partner: United States
  3. Cables and wire$3.4 billion · 3.5%
    Main partner: Japan
  4. Gold$3.2 billion · 3.2%
    Main partner: Hong Kong
  5. Diodes, transistors and solar cells$2.8 billion · 2.8%
    Main partner: China
  6. Transformers and power supplies$2.7 billion · 2.8%
    Main partner: United States
  7. Coconut and palm kernel oil$2.2 billion · 2.2%
    Main partner: United States
  8. Discs and storage media$2 billion · 2%
    Main partner: United States
  9. Capacitors$2 billion · 2%
    Main partner: China
  10. Nickel ore$2 billion · 2%
    Main partner: China

What it imports

Microchips (9.2%) and refined petroleum (7.5%) together make up 16.7% of its imports.

  1. Microchips$12.8 billion · 9.2%
    Main partner: South Korea
  2. Refined petroleum$10.4 billion · 7.5%
    Main partner: South Korea
  3. Cars$4.5 billion · 3.3%
    Main partner: Indonesia
  4. Crude petroleum$3.7 billion · 2.7%
    Main partner: Saudi Arabia
  5. Coal$3.3 billion · 2.4%
    Main partner: Indonesia
  6. Rice$2.5 billion · 1.8%
    Main partner: Vietnam
  7. Trucks$2.2 billion · 1.6%
    Main partner: Thailand
  8. Computer and office machine parts$2.1 billion · 1.5%
    Main partner: Hong Kong
  9. Copper ore$2 billion · 1.5%
    Main partner: Australia
  10. Natural gas and LPG$2 billion · 1.4%
    Main partner: China
By Harmonized System chapter (96)
ChapterExportsImports
85 · Electrical and electronic equipment$47.6 billion$27.9 billion
84 · Mechanical machinery$16.1 billion$11.7 billion
71 · Gems and precious metals$3.6 billion$438 million
26 · Ores and slag$3.5 billion$3.4 billion
90 · Precision and medical instruments$3.2 billion$2.9 billion
15 · Fats and oils$2.4 billion$1.5 billion
08 · Fruit and nuts$2.3 billion$661 million
74 · Copper$2.1 billion$1.3 billion
27 · Oil, gas and coal$1.7 billion$19.5 billion
44 · Wood$1 billion$656 million
42 · Leather goods and bags$944 million$653 million
39 · Plastics$866 million$5.1 billion
20 · Preserved fruit and vegetables$818 million$544 million
87 · Vehicles$797 million$10.3 billion
40 · Rubber$788 million$925 million
89 · Ships and boats$735 million$326 million
29 · Organic chemicals$676 million$1.3 billion
94 · Furniture and lighting$640 million$1.4 billion
24 · Tobacco$627 million$343 million
16 · Prepared meat and fish$600 million$179 million
75 · Nickel$599 million$46 million
88 · Aircraft and spacecraft$579 million$1.9 billion
61 · Knitted clothing$526 million$502 million
62 · Woven clothing$522 million$448 million
03 · Fish and seafood$350 million$817 million
73 · Iron and steel products$347 million$2.9 billion
28 · Inorganic chemicals$320 million$735 million
19 · Baked goods and cereal products$273 million$827 million
32 · Dyes, paints and tanning agents$255 million$749 million
64 · Footwear$253 million$654 million
83 · Miscellaneous metal goods$251 million$491 million
38 · Miscellaneous chemicals$250 million$1.4 billion
21 · Food preparations$236 million$2.1 billion
95 · Toys and sports gear$231 million$650 million
68 · Stone, plaster and cement articles$230 million$364 million
76 · Aluminum$226 million$627 million
13 · Gums and plant extracts$206 million$44 million
22 · Beverages and spirits$191 million$1 billion
72 · Iron and steel$171 million$4 billion
48 · Paper and paperboard$167 million$1.9 billion
91 · Watches and clocks$167 million$247 million
33 · Perfumes and cosmetics$164 million$1.3 billion
70 · Glass$122 million$414 million
47 · Wood pulp$119 million$84 million
23 · Animal feed and food waste$105 million$2.3 billion
96 · Other manufactured goods$104 million$394 million
63 · Home textiles and used clothing$92 million$407 million
34 · Soap and cleaning products$90 million$585 million
78 · Lead$83 million$143 million
36 · Explosives and matches$83 million$42 million
17 · Sugar and sweets$80 million$789 million
59 · Coated and technical textiles$77 million$240 million
69 · Ceramics$63 million$892 million
65 · Hats$63 million$68 million
30 · Pharmaceuticals$61 million$2.2 billion
56 · Felt, nonwovens and rope$57 million$176 million
54 · Synthetic filaments$56 million$429 million
93 · Weapons and ammunition$55 million$185 million
81 · Other base metals$51 million$67 million
25 · Salt, stone and cement$48 million$748 million
18 · Cocoa and chocolate$44 million$418 million
46 · Wicker and basketware$43 million$3 million
58 · Special fabrics and lace$42 million$69 million
67 · Feathers and artificial flowers$39 million$28 million
80 · Tin$33 million$58 million
82 · Tools and cutlery$24 million$369 million
53 · Other plant fibers$23 million$26 million
31 · Fertilizers$22 million$837 million
04 · Dairy, eggs and honey$20 million$1.4 billion
12 · Oilseeds and grains$18 million$277 million
43 · Fur and fur goods$16 million$10 million
07 · Vegetables$14 million$323 million
97 · Art and antiques$14 million$4 million
79 · Zinc$13 million$22 million
49 · Books and printed matter$13 million$278 million
92 · Musical instruments$12 million$26 million
55 · Synthetic staple fibers$11 million$224 million
14 · Other plant products$11 million$1 million
11 · Milling products and malt$9 million$294 million
86 · Railway equipment$9 million$260 million
09 · Coffee, tea and spices$7 million$317 million
35 · Glues, starches and enzymes$7 million$358 million
10 · Cereals$6 million$4.9 billion
06 · Live plants and flowers$5 million$16 million
01 · Live animals$4 million$37 million
05 · Other animal products$4 million$44 million
02 · Meat and offal$4 million$2.5 billion
37 · Photographic goods$4 million$38 million
41 · Hides and leather$3 million$131 million
66 · Umbrellas and canes$2 million$34 million
60 · Knitted fabric$2 million$253 million
45 · Cork$1 million$2 million
57 · Carpets and rugs$753 thousand$32 million
52 · Cotton$334 thousand$118 million
51 · Wool$156 thousand$12 million
50 · Silk$105 thousand$2 million

Trading partners

China is its main destination (18.9% of exports) and source (26.9% of imports).

Who it sells to

PartnerValue (USD billions)ShareMode
China18.718.9%Air
United States14.214.3%Air
Hong Kong11.411.5%Air
Japan10.510.6%Sea
Germany4.74.7%Air
South Korea4.54.5%Air
Singapore4.24.2%Air
Thailand3.33.3%Air
Mexico3.33.3%Air
Netherlands2.82.8%Sea

Who it buys from

PartnerValue (USD billions)ShareMode
China37.326.9%Sea
Indonesia11.68.3%Sea
Japan10.57.6%Sea
South Korea10.17.3%Sea
United States8.86.4%Sea
Thailand7.95.7%Sea
Malaysia6.14.4%Sea
Singapore6.14.4%Air
Vietnam5.74.1%Sea
Taiwan4.33.1%Air

Overview 1995–2024

In 2024, the Philippines accounted for 0.44% of world exports, compared with 0.37% in 1995.

Exports and imports

Exports grew 5.4-fold since 1995

USD billions (current). Bars: trade balance (green surplus, red deficit).

  • Exports 99.4
  • Imports 139
  • Balance -39.2

Source: CEPII BACI

Show the numbers
YearExportsImportsTrade balance
1995$18.5 billion$25.4 billion-$6.9 billion
1996$27.7 billion$35.7 billion-$8 billion
1997$32.9 billion$40 billion-$7.1 billion
1998$35.4 billion$30.7 billion$4.7 billion
1999$38.8 billion$31.6 billion$7.2 billion
2000$48 billion$35.7 billion$12.4 billion
2001$43.6 billion$34.2 billion$9.4 billion
2002$46.4 billion$34.3 billion$12 billion
2003$54.3 billion$37.1 billion$17.3 billion
2004$58.5 billion$42.7 billion$15.8 billion
2005$62.4 billion$44.4 billion$17.9 billion
2006$69.1 billion$52.7 billion$16.4 billion
2007$87.4 billion$60.9 billion$26.5 billion
2008$83.6 billion$66.9 billion$16.7 billion
2009$61.6 billion$52.2 billion$9.4 billion
2010$75.5 billion$66.3 billion$9.3 billion
2011$72.2 billion$65.3 billion$6.9 billion
2012$80.4 billion$75.5 billion$4.9 billion
2013$80.7 billion$77.5 billion$3.2 billion
2014$73.5 billion$79.4 billion-$5.9 billion
2015$78.4 billion$77.5 billion$962 million
2016$78.9 billion$94.4 billion-$15.5 billion
2017$107.7 billion$109.1 billion-$1.4 billion
2018$113.6 billion$118.5 billion-$4.9 billion
2019$92.2 billion$121.5 billion-$29.3 billion
2020$87.8 billion$101.7 billion-$13.8 billion
2021$103.4 billion$126.6 billion-$23.2 billion
2022$121.4 billion$150.4 billion-$29 billion
2023$102.3 billion$135.7 billion-$33.4 billion
2024$99.4 billion$138.5 billion-$39.2 billion

World rank

The Philippines fell from 41st to 42nd among the world's exporters

Rank among 222 countries by export value (1st at the top).

  • 41st in 1995
  • 42nd in 2024

Source: CEPII BACI

Show the numbers
YearRank
199541st
199633rd
199733rd
199832nd
199932nd
200030th
200132nd
200232nd
200333rd
200437th
200537th
200638th
200738th
200843rd
200941st
201040th
201151st
201244th
201343rd
201447th
201538th
201638th
201737th
201836th
201938th
202038th
202138th
202238th
202341st
202442nd

What it sells

Its top export group is still electrical and electronic equipment: 48% in 2024

% of exports by Harmonized System chapter.

  • Other 19%
  • Copper 2%
  • Fruit and nuts 2%
  • Fats and oils 2%
  • Precision and medical instruments 3%
  • Ores and slag 4%
  • Gems and precious metals 4%
  • Mechanical machinery 16%
  • Electrical and electronic equipment 48%

Source: CEPII BACI

Show the numbers
Chapter19952024
Electrical and electronic equipment35.1%47.9%
Mechanical machinery10.4%16.2%
Gems and precious metals0.98%3.6%
Ores and slag2.5%3.5%
Precision and medical instruments2.2%3.2%
Fats and oils4.6%2.4%
Fruit and nuts3.5%2.3%
Copper2.7%2.2%
Other38.1%18.8%

Who it trades with

China went from 3% to 24% of the Philippines' trade

% of total trade (exports + imports) with each partner.

  • China 24%
  • United States 10%
  • Japan 9%
  • South Korea 6%
  • Hong Kong 6%

Source: CEPII BACI

Show the numbers
Partner19952024
China3%23.6%
United States28.4%9.7%
Japan23.6%8.8%
South Korea4.8%6.1%
Hong Kong6.5%5.8%

Production hubs

Largest industrial emission sources (Climate TRACE, 2025)

  • Sual power stationPower · 7.8 Mt CO₂e
  • Dinginin power stationPower · 7.6 Mt CO₂e
  • Pagbilao power stationPower · 7.1 Mt CO₂e
View on the globe

Largest economic production hubs (gridded GDP, 2024)

  • Manila$492.5 billion (PPP, 2021 dollars)
  • Davao$80 billion (PPP, 2021 dollars)
  • Cebu$63.9 billion (PPP, 2021 dollars)
View on the globe

Sources and methodology

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), in current US dollars, with exports and imports reconciled between countries. The transport mode is our own estimate based on value per kilo and geography. Ranks are computed among the countries with data each year. Services are not included. Data up to 2024.

Main partners

See all countries