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Based on estimates from the Central Intelligence Agency’s World Factbook, exported goods plus services from the Philippines represent 31% of total Filipino economic output or Gross Domestic Product. Please note that the overall value of exported goods and services includes re-exports. The analysis below focuses on exported products only.
From a continental perspective, two-thirds (66.7%) of Filipino exports by value were delivered to fellow Asian countries while 17.4% was sold to North American importers. The Philippines shipped another 13.8% worth of goods to clients in Europe. Smaller percentages went to Oceania (1%) led by Australia, Latin America (0.7%) excluding Mexico but including the Caribbean, then Africa (0.4%).
Given the Philippines’ population of 105.9 million people, its total $67.5 billion in 2018 exports translates to roughly $650 for every resident in the densely populated Southeast Asian island.
The unemployment rate for the Philippines was 5.2% at March 2019, down from 5.3% in January 2018 per Trading Economics.
Philippines Top 10 Exports
Top 10
The following export product groups represent the highest dollar value in Filipino global shipments during 2018. Also shown is the percentage share each export category represents in terms of overall exports from the Philippines.
- Electrical machinery, equipment: US$32.9 billion (48.7% of total exports)
- Machinery including computers: $9.6 billion (14.3%)
- Optical, technical, medical apparatus: $2.2 billion (3.3%)
- Fruits, nuts: $2.1 billion (3.1%)
- Gems, precious metals: $1.5 billion (2.2%)
- Copper: $1.4 billion (2.1%)
- Ores, slag, ash: $1.2 billion (1.8%)
- Ships, boats: $1.2 billion (1.8%)
- Animal/vegetable fats, oils, waxes: $1.2 billion (1.7%)
- Mineral fuels including oil: $1.1 billion (1.7%)
Philippines top 10 exports accounted for about four-fifths (80.7%) of the overall value of its global shipments.
Fruits and nuts was the fastest-growing among the Philippines’ top 10 export categories, up 16% from 2017 to 2018.
In second place for improving export sales were Filipino shipments of mineral fuels-related goods which appreciated 10.4% propelled by better international cashflow from refined petroleum oils.
Gems and precious metals posted the third-fastest gain up 7%, due mainly to superior silver sales.
Copper was the leading decliner among export categories for the Philippines due to its -31.7% year-over-year drop.
Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. For a more granular view of exported goods at the four-digit HTS code level, see the section Searchable List of Philippines’ Most Valuable Export Products further down near the bottom of this article.
Advantages
The following types of Filipino product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.
In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.
- Electrical machinery, equipment: US$4.5 billion (Down by -52.4% since 2017)
- Fruits, nuts: $1.7 billion (Up by 16.7%)
- Gems, precious metals: $1.2 billion (Down by -0.1%)
- Ships, boats: $984.6 million (Down by -34.1%)
- Copper: $578.2 million (Down by -56.6%)
- Leather/animal gut articles: $423.3 million (Up by 14%)
- Meat/seafood preparations: $401.4 million (Down by -16.3%)
- Knit or crochet clothing, accessories: $325.9 million (Down by -23.4%)
- Nickel: $322.1 million (Down by -24.5%)
- Optical, technical, medical apparatus: $230.3 million (Down by -56%)
The Philippines has highly positive net exports in the international trade of electronic equipment including consumer electronics. In turn, these cashflows indicate the Philippines’ strong competitive advantages under the electronic equipment category.
Opportunities
Overall the Philippines incurred a -$47.6 billion trade deficit in 2018, up 43.6% from -$33.2 billion in red ink one year earlier.
Below are exports from the Philippines that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country the Philippines’ goods trail Filipino importer spending on foreign products.
- Mineral fuels including oil: -US$12.7 billion (Up by 22.5% since 2017)
- Vehicles: -$7.5 billion (Down by -0.9%)
- Iron, steel: -$5.1 billion (Up by 33%)
- Machinery including computers: -$3.1 billion (Down by -28.2%)
- Plastics, plastic articles: -$2.9 billion (Up by 13.8%)
- Cereals: -$2.7 billion (Up by 50.4%)
- Aircraft, spacecraft: -$2.3 billion (Up by 77.6%)
- Pharmaceuticals: -$1.6 billion (Down by -2.2%)
- Food industry waste, animal fodder: -$1.6 billion (Up by 16.1%)
- Articles of iron or steel: -$1.5 billion (Up by 23.6%)
The Philippines has highly negative net exports and therefore deep international trade deficits for mineral fuels-related products especially refined petroleum oils followed by crude oil, coal then petroleum gas.
These cashflow deficiencies clearly indicate the Philippines’ competitive disadvantages in the international fossil fuel market, but also represent key opportunities for the Philippines to improve its position in the global economy through focused innovations particularly in alternative energy sources.
Companies
Filipino Export Companies
Ten Filipino corporations rank among Forbes Global 2000. Below is a sample of the major export companies headquartered in the Philippines that Forbes included:
- Aboitiz Equity Ventures (industrial conglomerates)
- Alliance Global Group (industrial conglomerates)
- Ayala (industrial conglomerates)
- PLDT (telecommunications services)
- San Miguel (industrial conglomerates)
According to global trade intelligence firm Zepol, the following companies are also examples of Filipino export companies:
- Acbel Polytech Philippines (electric static converters, primary batteries)
- Aruze G A Philippines Branch (machine tools, printers, copiers, operated games)
- Calfurn Mfg Philippines (bamboo/wood furniture, kitchenware, tableware)
- Pacific Paint Boysen Philippines (polymers, oils)
- Yuenthai Philippines (shirts, blouses)
Searchable List of Philippines’ Most Valuable Export Products
At the more granular four-digit HTS code level, the Philippines’ top export products are electronic integrated circuits followed by electrical machinery then computers.
The following searchable table displays 200 of the most in-demand goods shipped from the Philippines during 2018. Shown beside each product label is its total export value then the percentage increase or decrease since 2017.
| Rank | Philippines' Export Product | 2018 Value (US$) | Change |
|---|---|---|---|
| 1 | Integrated circuits/microassemblies | $13.7 billion | -1.9% |
| 2 | Electrical machinery | $6.6 billion | -8.6% |
| 3 | Computers, optical readers | $4.4 billion | -8.2% |
| 4 | Solar power diodes/semi-conductors | $3 billion | +64.5% |
| 5 | Electrical converters/power units | $2.1 billion | +32.4% |
| 6 | Printing machinery | $2 billion | +25% |
| 7 | Insulated wire/cable | $1.9 billion | -13.1% |
| 8 | Bananas, plantains | $1.5 billion | +33.4% |
| 9 | Computer parts, accessories | $1.3 billion | +28.7% |
| 10 | Cruise/cargo ships, barges | $1.2 billion | -27.5% |
| 11 | Refined copper, unwrought alloys | $1.1 billion | -10.2% |
| 12 | Gold (unwrought) | $1.1 billion | -8% |
| 13 | Coconut/palm/babassu oil | $1.1 billion | -30.4% |
| 14 | Automobile parts/accessories | $1 billion | -4.9% |
| 15 | Aircraft parts | $946.1 million | +42.1% |
| 16 | Lower-voltage switches, fuses | $899.3 million | -2.9% |
| 17 | Electrical capacitators | $684.8 million | -9.5% |
| 18 | Copper ores, concentrates | $617.1 million | +66.2% |
| 19 | Phone system devices including smartphones | $615.9 million | -18.1% |
| 20 | Cases, handbags, wallets | $582.4 million | +19% |
| 21 | TV receivers/monitors/projectors | $581.9 million | -2.8% |
| 22 | Oscilloscopes, spectrum analyzers | $480.4 million | +48.4% |
| 23 | Nickel ores, concentrates | $458.2 million | -33.1% |
| 24 | Processed petroleum oils | $456.4 million | +15.4% |
| 25 | Printed circuits | $426.9 million | +32.1% |
| 26 | Fish, caviar (preserved/prepared) | $378.7 million | -11.4% |
| 27 | Nickel matte, oxide sinters | $374.9 million | -15.6% |
| 28 | Miscellaneous preserved fruits | $330.3 million | -21.1% |
| 29 | Wood carpentry, builders' joinery | $313.3 million | -72.8% |
| 30 | Regulate/control instruments | $287.5 million | +11.8% |
| 31 | Optical fiber cables, sheets, plates | $286.7 million | -3% |
| 32 | Coconuts, Brazil nuts, cashews | $284.9 million | -17.4% |
| 33 | Coal, solid fuels made from coal | $281 million | -16.7% |
| 34 | Magnets including electro-magnets | $270.8 million | -17.2% |
| 35 | Rubber tires (new) | $267.7 million | +51.4% |
| 36 | Dates/figs/pineapples/mangoes/avocadoes/guavas | $253.7 million | -10.6% |
| 37 | Cigars/cigarellos, cigarettes | $241.1 million | +79.6% |
| 38 | Photographic cameras, apparatus | $224.4 million | -55.7% |
| 39 | TV/radio/radar device parts | $223.7 million | +31.5% |
| 40 | Air conditioners | $215.8 million | +11.2% |
| 41 | Electro-medical equipment (e.g. xrays) | $207.7 million | -7.5% |
| 42 | Electric motors, generators | $207 million | -24.6% |
| 43 | Crude oil | $202.7 million | +3.5% |
| 44 | Miscellaneous machinery | $193.7 million | +33.8% |
| 45 | Lenses, prisms, mirrors | $190.1 million | -28.2% |
| 46 | Air or vacuum pumps | $185.8 million | +217.7% |
| 47 | Transmission shafts, gears, clutches | $182 million | +37% |
| 48 | Plastic builders' items | $179.7 million | +120.7% |
| 49 | Microphones/headphones/amps | $177 million | +112.5% |
| 50 | Acyclic hydrocarbons | $174.7 million | -1.6% |
| 51 | Miscellaneous furniture | $173.5 million | -6.9% |
| 52 | Vegetable saps, extracts | $166.8 million | +3.2% |
| 53 | Temperature-change machines | $165.8 million | +12.6% |
| 54 | Locks, lock-keys | $162.3 million | +31.4% |
| 55 | Radar, radio communication items | $160.2 million | -32.3% |
| 56 | Electric storage batteries | $159.7 million | +2.9% |
| 57 | Unmanufactured tobacco, tobacco waste | $152.1 million | +39.9% |
| 58 | Acyclic alcohols | $149.2 million | -24.4% |
| 59 | Other measuring/testing machines | $149.2 million | -30.5% |
| 60 | Iron and steel screws, bolts, nuts, washers | $149 million | +217.3% |
| 61 | Miscellaneous plastic items | $143.3 million | -4.1% |
| 62 | Electric motor parts | $142.1 million | +59% |
| 63 | Taps, valves, similar appliances | $141.5 million | -39% |
| 64 | Electrical/optical circuit boards, panels | $141.1 million | +74.4% |
| 65 | Electrical lighting/signaling equpment, defrosters | $141 million | -13.6% |
| 66 | Sawn wood | $136.9 million | +42.9% |
| 67 | Carbon/natural mineral products | $135.2 million | +20% |
| 68 | Bread, biscuits, cakes, pastries | $131.6 million | +9.5% |
| 69 | Other organic cleaning preparations | $131.2 million | +19% |
| 70 | Miscellaneous iron and steel structures | $130.2 million | +146.2% |
| 71 | Women's clothing (knit or crochet) | $122.9 million | -30.7% |
| 72 | Iron or steel scrap | $122 million | +45.8% |
| 73 | Calculators, accounting/ticket machines, cash registers | $120.5 million | -2.6% |
| 74 | Miscellaneous office machines | $117.5 million | +16.1% |
| 75 | Fruit and vegetable juices | $116.1 million | -21.3% |
| 76 | Plastic tableware, kitchenware, toiletry | $115.2 million | +257.8% |
| 77 | Copper foil | $113.1 million | -61% |
| 78 | Speed/distance meters | $110.1 million | +53.1% |
| 79 | Gold-clad base metals or silver | $108 million | +69,585% |
| 80 | Wrist/pocket watches (no precious metal case) | $107.5 million | +498.4% |
| 81 | Whole fish (frozen) | $105.3 million | -18.5% |
| 82 | Coal tar oils (high temperature distillation) | $103.8 million | +807.9% |
| 83 | Crustaceans (including lobsters) | $102.8 million | -30.8% |
| 84 | Lamps, lighting, illuminated signs | $99.7 million | +38.2% |
| 85 | High-voltage switches, fuses | $98.1 million | +644.4% |
| 86 | Plastic packing goods, lids, caps | $97.8 million | -8.4% |
| 87 | Non-alcoholic drinks (not water/juice/milk) | $95.4 million | -17.3% |
| 88 | Laminated wood (including plywood, veneer panels) | $94.1 million | +72.7% |
| 89 | Bridge parts, structures | $91.7 million | -27.7% |
| 90 | Women's blouses | $90.2 million | +74% |
| 91 | Video recording equipment | $88.3 million | -20% |
| 92 | Crustaceans, molluscs (preserved/prepared) | $87.3 million | +1.5% |
| 93 | Petroleum gases | $87.3 million | -9.7% |
| 94 | Vulcanized rubber items | $83.8 million | +18.6% |
| 95 | Silver (unwrought) | $83.3 million | +22,789% |
| 96 | Mattresses, quilts | $76.9 million | +0.6% |
| 97 | Natural rubber | $76 million | -24.1% |
| 98 | Filament/discharge lamps | $76 million | +17.8% |
| 99 | Men's shirts (not knit or crochet) | $74.1 million | -53.3% |
| 100 | Machinery for making semi-conductors | $72.6 million | +23.1% |
| 101 | Iron ores, concentrates | $71.8 million | -8.2% |
| 102 | Miscellaneous oil cakes | $71.2 million | +11.7% |
| 103 | Fibrous cellulosic pulps | $70.8 million | -17.6% |
| 104 | Plastic tubes, pipes, fittings | $68.3 million | +93.5% |
| 105 | Copper waste, scrap | $68.3 million | +8.5% |
| 106 | Centrifuges, filters and purifiers | $67.5 million | +106.4% |
| 107 | Print/write/draw inks | $67.5 million | +283.2% |
| 108 | Electrical resistors | $67.4 million | +123.4% |
| 109 | Women's clothing (not knit or crochet) | $66.9 million | -44.2% |
| 110 | Moluscs | $66.4 million | -17% |
| 111 | Leather clothing, accessories | $66.4 million | +12.6% |
| 112 | TV receiver/transmit/digital cameras | $64.3 million | +8.3% |
| 113 | Men's shirts (knit or crochet) | $63.8 million | -18.1% |
| 114 | Sauces, mixed condiments, seasonings | $62 million | -26.2% |
| 115 | Primary polymers of ethylene | $60.9 million | -34% |
| 116 | Live fish | $60.9 million | -24.8% |
| 117 | Wigs, false beards, eyelashes | $59.8 million | +144.8% |
| 118 | Seats (excluding barber/dentist chairs) | $59.6 million | -15.8% |
| 119 | Fixed vegetable fats/oils | $59.4 million | -15.7% |
| 120 | Propylene/olefin polymers | $58.9 million | +2.4% |
| 121 | Electric circuit parts, fuses, switches | $58 million | +68.4% |
| 122 | Table games, bowling equipment | $57.6 million | +41.5% |
| 123 | Ball, roller bearings | $57.5 million | +3.8% |
| 124 | Sugar (cane or beet) | $56.4 million | -73.1% |
| 125 | Women's underwear, pajamas (knit or crochet) | $55.6 million | +29.7% |
| 126 | Base metal mountings, fittings | $55.3 million | -19.8% |
| 127 | Models, puzzles, miscellaneous toys | $55.1 million | +29.8% |
| 128 | Telecommunication receivers | $52.9 million | +272.8% |
| 129 | Other food preparations | $52.5 million | -7.4% |
| 130 | Wood charcoal | $51 million | +118% |
| 131 | Footwear (textile) | $50.9 million | +132.4% |
| 132 | Jerseys, pullovers (knit or crochet) | $50.7 million | -49.6% |
| 133 | Miscellaneous printed matter | $50.5 million | +179.4% |
| 134 | Precious metal waste, scrap | $50.3 million | +4.4% |
| 135 | Flour/meal/starch/malt extract food preparations | $49.3 million | -37.7% |
| 136 | Miscellaneous iron or steel items | $48.4 million | -2.2% |
| 137 | Pneumatic hand tool | $47.4 million | +65.1% |
| 138 | Cigarette paper | $46.3 million | +12.3% |
| 139 | Miscellaneous ores, concentrates | $46.2 million | +219,957% |
| 140 | Unrecorded sound media | $45.5 million | -32.7% |
| 141 | Cast iron tubes, pipes | $45.3 million | -14.9% |
| 142 | Personal toilet/shaving preparations, deodorants | $43.7 million | -24.1% |
| 143 | Pipe/chewing/snuff tobaccos | $43.4 million | -20.8% |
| 144 | Men's suits,trousers (knit or crochet) | $40.8 million | -18.1% |
| 145 | Other machine parts, accessories | $40.7 million | +4.9% |
| 146 | Vegetable textiles | $40.5 million | -6% |
| 147 | Liquid crystal/laser/optical tools | $40.5 million | -2.5% |
| 148 | Electric sound/visual signal bells or alarms | $40 million | -71.4% |
| 149 | Narrow woven textile fabrics | $39.6 million | -7.5% |
| 150 | Plastics waste, scrap | $39.6 million | +13% |
| 151 | Motorcycle parts/accessories | $39.5 million | +3.5% |
| 152 | Pasta, couscous | $39.4 million | +30.5% |
| 153 | Sports equipment | $39.4 million | +6.7% |
| 154 | Lighters including for cigarettes | $39.3 million | -39.6% |
| 155 | Liquid/gas checking instruments | $39.2 million | +83.5% |
| 156 | Concrete/artificial stone items | $39.2 million | +48.9% |
| 157 | Women's shirts (not knit or crochet) | $38.8 million | +2.9% |
| 158 | Miscellaneous parts, accessories | $38.8 million | -11.8% |
| 159 | Machine-part brooms, brushes | $38.2 million | +46.8% |
| 160 | Miscellaneous articles, dress patterns | $36.8 million | -38.9% |
| 161 | Sulphides, polysulphides | $36.5 million | -80.1% |
| 162 | Whole fish (fresh) | $35.6 million | +7.7% |
| 163 | Electric ignition/start equipment | $34.8 million | -49.5% |
| 164 | Miscellaneous engines, motors | $34.7 million | +35.2% |
| 165 | Fish fillets, pieces | $34.2 million | -14.6% |
| 166 | Basketwork, wickerwork | $34.1 million | -22.1% |
| 167 | Iron or steel pipe fittings | $33.7 million | +13.5% |
| 168 | Footwear (leather) | $33.4 million | -15% |
| 169 | Other glass articles | $33.4 million | +82.6% |
| 170 | Electric water heaters, hair dryers | $33.2 million | -48.1% |
| 171 | Spectacle/goggle frames, mountings | $32.9 million | +6.3% |
| 172 | Metal-removing lathes | $32.6 million | +106% |
| 173 | Women's coats, jackets (knit or crochet) | $32.1 million | +4,681% |
| 174 | Vacuum vessels including flasks, parts | $31.6 million | +39.2% |
| 175 | Medication mixes in dosage | $31 million | -29.5% |
| 176 | Polyacetal/ether/carbonates | $30 million | +235% |
| 177 | Bras, corsets (not knit or crochet) | $29.8 million | +75% |
| 178 | Machinery parts | $29 million | -23.1% |
| 179 | Arms parts, accessories | $29 million | +1,159% |
| 180 | Sugar confectionery (no cocoa) | $28.9 million | -24.2% |
| 181 | Men's suits, trousers (not knit or crochet) | $28.8 million | +50.6% |
| 182 | Vulcanized rubber plates, sheets, strips | $28.3 million | +288.8% |
| 183 | Cyclic hydrocarbons | $28.2 million | -80.7% |
| 184 | Copper wire | $28.1 million | -62.9% |
| 185 | Animal/vegetable hydrogenated fats, oils | $27.5 million | -26.6% |
| 186 | Miscellaneous aluminum items | $27.3 million | +72.6% |
| 187 | Interchangeable hand/machine tools | $27.1 million | -67% |
| 188 | Anti-knock/oxidation/gum inhibitors | $26.9 million | -2.1% |
| 189 | Bicycles, other non-motorized cycles | $25.9 million | -32.5% |
| 190 | Concentrated/sweetened milk, cream | $25.9 million | +66.2% |
| 191 | Twine/cord/rope knotted netting | $25.8 million | -15.2% |
| 192 | Paper containers, cellulose wadding | $25.3 million | -23.5% |
| 193 | Plastic baths, wash basins | $24.8 million | +39.9% |
| 194 | Cinematographic cameras, projectors | $24.3 million | -40.7% |
| 195 | Jewelry | $24 million | +17.3% |
| 196 | Pencils, crayons, leads, pastels | $23.9 million | +66.3% |
| 197 | Fishing gear, decoy birds | $23.8 million | +28% |
| 198 | Safety glass | $23.8 million | +1,524% |
| 199 | Beauty/makeup/skin care preparations | $23.6 million | -37% |
| 200 | Prepared explosives | $23.4 million | +19.5% |
These 200 exported goods were worth a subtotal of US$64.7 billion or 95.8% by value for all products exported from the Philippines during 2018.
See also Philippines Top 10 Imports, Philippines Top Trading Partners and Top Filipino Trade Balances
Research Sources:
Forbes Global 2000 rankings, The World’s Biggest Public Companies. Accessed on March 26, 2019
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on March 26, 2019
Investopedia, Net Exports Definition. Accessed on March 26, 2019
Trade Map, International Trade Centre. Accessed on March 26, 2019
Wikipedia, List of Companies of the Philippines. Accessed on March 26, 2019
Wikipedia, Philippines. Accessed on March 26, 2019
Zepol’s company summary highlights by country. Accessed on April 11, 2016
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