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2022
Flag → Flag
Exports $422MRnk 24 / 205
2022
Flag → Flag
Top Product $105MCoconut Oil
2022
Flag → Flag
Exports $954MRnk 65 / 221
2022
Flag → Flag
Top Product $162MIntegrated Circuits
2022
Flag
Economic Complexity (ECI) ECI 0.71Rnk 37 / 133
2022
Flag
Economic Complexity (ECI) ECI 1.29Rnk 17 / 133
2022
Flag  
GDP$404BCURRENT US$
Rnk 38 / 186
2012-2022
Flag
GDP GROWTH54.4%CURRENT US$
Rnk 51 / 186
2022
Flag
 GDP$2.01TCURRENT US$
Rnk 10 / 186
2012-2022
Flag
GDP GROWTH-3.67%CURRENT US$
Rnk 169 / 186
2022
Flag
GDP PC $3,499CURRENT US$
Rnk 129 / 186
2012-2022
Flag
GDP PC GROWTH30.9%CURRENT US$
Rnk 61 / 186
2022
Flag
GDP PC$34,158CURRENT US$
Rnk 30 / 186
2012-2022
Flag
GDP PC GROWTH-2.55%CURRENT US$
Rnk 148 / 186

About

Philippines-Italy Trade: In 2022, Philippines exported $422M to Italy. The main products that Philippines exported to Italy were Coconut Oil ($105M), Other Domestic Electric Housewares ($53.7M), and Integrated Circuits ($25.1M). Over the past 5 years the exports of Philippines to Italy have increased at an annualized rate of 2.74%, from $368M in 2017 to $422M in 2022.

In 2022, Philippines did not export any services to Italy.

Italy-Philippines Trade: In 2022, Italy exported $954M to Philippines. The main products that Italy exported to Philippines were Integrated Circuits ($162M), Vaccines, blood, antisera, toxins and cultures ($50.9M), and Packaged Medicaments ($34.1M). Over the past 5 years the exports of Italy to Philippines have increased at an annualized rate of 3.22%,  from $814M in 2017 to $954M in 2022.

In 2020, Italy exported services to Philippines worth $28.2M, with Travel ($15.1M), Other business services ($6.51M), and Royalties and license fees ($3.31M) being the largest in terms of value.

Comparison: In 2022,  Philippines ranked 37 in the Economic Complexity Index (ECI 0.71), and 40 in total exports ($110B). That same year, Italy ranked 17 in the Economic Complexity Index (ECI 1.29), and 7 in total exports ($634B).

Latest Trends

June, 2024

About

Overview In June 2024, Philippines exported $11.1M and imported $104M from Italy, resulting in a negative trade balance of $92.6M. Between June 2023 and June 2024 the exports of Philippines have decreased by $-3.76M (-25.4%) from $14.8M to $11.1M, while imports increased by $22.1M (27.1%) from $81.5M to $104M.

Trade In June 2024, the top exports of Philippines to Italy were Coconut Oil ($12.2M), Integrated Circuits ($2.08M), Jewellery ($1.98M), Electric Heaters ($1.53M), and Air Pumps ($1.05M). In June 2024 the top imports of Philippines from Italy were Integrated Circuits ($14.2M), Commodities not elsewhere specified ($5.91M), Packaged Medicaments ($4.19M), Trunks and Cases ($3.94M), and Jewellery ($2.98M).

Growth In June 2024, the decrease in Philippines's year-by-year exports to Italy was explained primarily by an decrease in product exports in Coconut Oil ($-7.5M or -38.1%), Processed Fish ($-1.42M or -90%), and Commodities not elsewhere specified ($-594k or -46.3%). In June 2024, the increase in Philippines's year-by-year imports  from Italy was explained primarily by an increase in product imports  in Integrated Circuits ($3.35M or 30.7%), Semiconductor Devices ($2.02M or 231k%), and Trunks and Cases ($1.92M or 95.3%).

Latest Trade

Time Scale
Flow
Value
Depth
EXPORT GROWTH (June 2023 - June 2024)$-3.76M(-25.4%)
IMPORT GROWTH (June 2023 - June 2024)$22.1M(27.1%)

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 Italy and Philippines trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Italy and Philippines Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Philippines exported $422M to Italy. The main products exported from Philippines to Italy were Coconut Oil ($105M), Other Domestic Electric Housewares ($53.7M), and Integrated Circuits ($25.1M). During the last 5 years the exports of Philippines to Italy have increased at an annualized rate of 2.74%, from $368M in 2017 to $422M in 2022.

In 2017, Italy exported $954M to Philippines. The main products exported from Italy to Philippines were Integrated Circuits ($162M), Vaccines, blood, antisera, toxins and cultures ($50.9M), and Packaged Medicaments ($34.1M). During the last 5 years the exports of Italy to Philippines have increased at an annualized rate of 3.22%, from $814M in 2022 to $954M in 2017.

Exports from Philippines (Flag) to Italy (Flag) (2022)

Exports from Italy (Flag) to Philippines (Flag) (2022)

Market Competitiveness

Color
Philippines
Top DestinationUnited States$15.5B
Italy
Top DestinationGermany$78.5B

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

In 2022, countries that imported more from Philippines than Italy included Hong Kong ($12.6B), Singapore ($7.07B), and Japan ($11.3B).

In 2022, countries that imported more from Italy than Philippines included Germany ($78.5B), France ($63.8B), and United States ($68.2B).

Difference in imports from Italy (Flag) and Philippines (Flag) (2022)

Comparative Advantage Philippines - Italy

Flow
Scale

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

During 2022, Philippines had a large net trade with Italy in the exports of Machines ($154M), Animal and Vegetable Bi-Products ($105M), and Textiles ($27.4M).

During 2017, Italy had a large net trade with Philippines in the exports of Machines ($392M), Chemical Products ($126M), and Foodstuffs ($85.4M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Philippines Italy+$52.9MIntegrated Circuits
Top Product Potential Italy Philippines+$36.7MPackaged Medicaments

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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Bilateral Service Trade

In 2020, Italy exported services to Philippines worth $28.2M, with Travel ($15.1M), Other business services ($6.51M), and Royalties and license fees ($3.31M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Italy (Flag) to Philippines (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

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

Product Space of Philippines (Flag) and Italy (Flag) (2022)

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