But here’s some good news: international trade trend lines over a five-year time horizon are all positive for the Philippines. Filipino exports rose in value by almost a quarter (22.1%) from $48 billion during 2011 to $58.6 billion in 2015.
And while import spending did increase by 10.2%, the total trade deficit for the Philippines shrank by more than a quarter (-26.3%) during the most recent five-year time span.
Philippines Trade Buddies: Surplus
The following searchable table shows that the Philippines earned surpluses with 119 of the 206 trade partners with which exports and imports were exchanged during 2015.
| Rank | Trade Partner | Surplus 2015 | % Change from 2011 |
|---|---|---|---|
| 1) | Japan | $5.6 billion | up 203.8% |
| 2) | Hong Kong | $4.3 billion | up 105.7% |
| 3) | Netherlands | $1.4 billion | down -3.6% |
| 4) | United States | $1.2 billion | up 647.6% |
| 5) | Liberia | $564.6 million | up 784,135% |
| 6) | Mexico | $348.5 million | up 20.1% |
| 7) | Marshall Islands | $244.8 million | up 82.8% |
| 8) | Malta | $244.2 million | up 3,085% |
| 9) | Hungary | $167.7 million | up 4.8% |
| 10) | Canada | $161.6 million | up 38,652% |
| 11) | Cyprus | $116.3 million | up 8,542% |
| 12) | South Africa | $87 million | down -12,859% |
| 13) | United Kingdom | $66.9 million | down -28.4% |
| 14) | Panama | $50.7 million | down -22.2% |
| 15) | Germany | $44.9 million | down -80.2% |
| 16) | Iran | $42.7 million | down -105.6% |
| 17) | North Korea | $42.4 million | up 113.1% |
| 18) | Romania | $42.1 million | up 301.4% |
| 19) | Poland | $29.7 million | down -18.6% |
| 20) | Austria | $25.8 million | down -310.1% |
| 21) | US Minor Outlying Islands | $18.4 million | down -11.2% |
| 22) | Czech Republic | $17.2 million | down -65.4% |
| 23) | Laos | $15.4 million | up 2,910% |
| 24) | Portugal | $15 million | up 31.3% |
| 25) | Myanmar (Burma) | $14 million | down -318.5% |
| 26) | Lebanon | $8.6 million | up 26.3% |
| 27) | Colombia | $7.6 million | up 332.8% |
| 28) | Tunisia | $7.3 million | up 148.6% |
| 29) | Egypt | $7.2 million | down -165.1% |
| 30) | Costa Rica | $6.5 million | down -76.9% |
| 31) | Dominican Republic | $6.4 million | down -174.4% |
| 32) | Algeria | $6.3 million | up 517.3% |
| 33) | Pakistan | $5.6 million | down -114.3% |
| 34) | British Virgin Islands | $5.6 million | down -5,084% |
| 35) | Micronesia | $5.5 million | up 20.2% |
| 36) | Afghanistan | $5.2 million | up 62.1% |
| 37) | Luxembourg | $5.1 million | up 52.7% |
| 38) | Peru | $4.7 million | down -103.9% |
| 39) | Iraq | $4.6 million | up 4,438% |
| 40) | Brunei Darussalam | $4.5 million | down -1,706% |
| 41) | Morocco | $4 million | up 12.7% |
| 42) | Estonia | $3.8 million | up 82.2% |
| 43) | Macao | $3.7 million | down -77.6% |
| 44) | Ghana | $3.7 million | down -74.8% |
| 45) | Sri Lanka | $3.5 million | down -72.6% |
| 46) | Slovakia | $3.4 million | down -2.2% |
| 47) | Cameroon | $3 million | up 266.3% |
| 48) | Sudan (North + South) | $2.9 million | up 0.8% |
| 49) | Venezuela | $2.8 million | down -47.9% |
| 50) | Yemen | $2.8 million | down -58.7% |
| 51) | Miscellaneous Oceania | $2.7 million | down -13,630% |
| 52) | Bahrain | $2.7 million | down -145.1% |
| 53) | French Polynesia | $2.6 million | up 131.3% |
| 54) | Palau | $2.5 million | down -28% |
| 55) | New Caledonia | $2.4 million | up 109.9% |
| 56) | Northern Mariana Is | $2 million | up 267.3% |
| 57) | Ethiopia | $1.8 million | up 157.9% |
| 58) | Libya | $1.5 million | up 1,385% |
| 59) | Nepal | $1.5 million | up 1,803% |
| 60) | Somalia | $1.3 million | up 772.7% |
| 61) | Andorra | $1.2 million | up 741.8% |
| 62) | Maldives | $1.2 million | up 18.8% |
| 63) | Netherlands Antilles | $1.2 million | up 1647.8% |
| 64) | El Salvador | $1.2 million | up 74.7% |
| 65) | Uzbekistan | $1.2 million | up 438.3% |
| 66) | Bahamas | $936,000 | down -37.5% |
| 67) | Djibouti | $902,000 | up 36% |
| 68) | Uganda | $880,000 | up 110% |
| 69) | Mongolia | $875,000 | up 10.1% |
| 70) | Bolivia | $818,000 | down -3,130% |
| 71) | Côte d'Ivoire | $749,000 | down -54.1% |
| 72) | Samoa | $705,000 | up 7.1% |
| 73) | Timor-Leste | $657,000 | up 169.3% |
| 74) | Trinidad/Tobago | $532,000 | down -30.6% |
| 75) | Serbia | $458,000 | up 392.5% |
| 76) | Senegal | $409,000 | down -55.8% |
| 77) | Tonga | $387,000 | up 74.3% |
| 78) | Rwanda | $344,000 | up 116.4% |
| 79) | Suriname | $340,000 | up 33,900% |
| 80) | Kazakhstan | $331,000 | down -61.9% |
| 81) | Benin | $287,000 | up 617.5% |
| 82) | Aruba | $263,000 | up 24.1% |
| 83) | Syria | $253,000 | down -49.6% |
| 84) | Haiti | $215,000 | down -47.2% |
| 85) | Latvia | $203,000 | down -84.4% |
| 86) | Togo | $180,000 | down -101.2% |
| 87) | Madagascar | $172,000 | down -97.5% |
| 88) | Botswana | $152,000 | down -86.7% |
| 89) | Seychelles | $146,000 | down -77.7% |
| 90) | Fiji | $145,000 | down -89.5% |
| 91) | Niger | $145,000 | down -71.4% |
| 92) | Guinea | $119,000 | down -95.8% |
| 93) | Azerbaijan | $100,000 | down -82.8% |
| 94) | Georgia | $97,000 | down -88.6% |
| 95) | Barbados | $85,000 | down -40.6% |
| 96) | Bermuda | $74,000 | down -62.8% |
| 97) | Tuvalu | $68,000 | up 172% |
| 98) | Sierra Leone | $62,000 | up 63.2% |
| 99) | Antigua/Barbuda | $56,000 | down -35.6% |
| 100) | Gambia | $50,000 | down -52.4% |
| 101) | Bhutan | $29,000 | down -3,000% |
| 102) | Burkina Faso | $29,000 | down -323.1% |
| 103) | Macedonia | $28,000 | down -94.6% |
| 104) | Central African Republic | $26,000 | down -71.1% |
| 105) | Burundi | $24,000 | down -94.1% |
| 106) | Cook Islands | $14,000 | down -81.1% |
| 107) | St Vincent/Grenadines | $12,000 | down -83.3% |
| 108) | Guinea-Bissau | $11,000 | down -97.1% |
| 109) | Cuba | $11,000 | down -101.4% |
| 110) | Tajikistan | $10,000 | down -95.5% |
| 111) | Armenia | $9,000 | down -83.9% |
| 112) | Nauru | $6,000 | down -81.3% |
| 113) | Cabo Verde | $6,000 | no change |
| 114) | Albania | $4,000 | down -98% |
| 115) | Mauritania | $2,000 | down -95.8% |
| 116) | Br Indian Ocean Territories | $1,000 | down -88.9% |
| 117) | Equatorial Guinea | $1,000 | down -200% |
| 118) | Gibraltar | $1,000 | down -66.7% |
| 119) | Turkmenistan | $1,000 | down -94.7% |
Among its top 10 surpluses by country, the Philippines showed competitive advantages against all three North American countries: United States ($1.2 billion surplus), Mexico ($348.5 billion) and Canada ($161.6 billion).
The fastest-growing Filipino trade surpluses were gained at the expense of Liberia (up 784,135%), Canada (up 38,652%), Suriname (up 33,900%), Cyprus (up 8,542%) and Iraq (up 4,438%).
Philippines Trade Buddies: Deficit
The Philippines did sustain deficits with 87 of its total 206 trade partners, some significant in size.
| Rank | Trade Partner | Deficit 2015 | % Change from 2011 |
|---|---|---|---|
| 1) | China | -$5.1 billion | up 1,164% |
| 2) | Taiwan | -$3.3 billion | up 38.3% |
| 3) | Indonesia | -$2.5 billion | up 28% |
| 4) | Thailand | -$2.2 billion | up 24.9% |
| 5) | Malaysia | -$2.1 billion | up 25.9% |
| 6) | South Korea | -$2 billion | down -16.6% |
| 7) | Saudi Arabia | -$1.8 billion | down -44.4% |
| 8) | Singapore | -$1.2 billion | up 42% |
| 9) | India | -$906.3 million | up 190.1% |
| 10) | Kuwait | -$727.5 million | up 13,765% |
| 11) | France | -$676.4 million | up 101.8% |
| 12) | Vietnam | -$546.1 million | up 182% |
| 13) | Australia | -$394 million | down -48.2% |
| 14) | Qatar | -$380.6 million | up 23.1% |
| 15) | New Zealand | -$341.6 million | down -31.7% |
| 16) | Russia | -$277.7 million | down -81.5% |
| 17) | Italy | -$263.8 million | up 885.6% |
| 18) | United Arab Emirates | -$194.7 million | down -87.4% |
| 19) | Brazil | -$192.1 million | up 59.6% |
| 20) | Finland | -$160.5 million | up 1,286% |
| 21) | Spain | -$157.3 million | up 98.5% |
| 22) | Argentina | -$150.2 million | down -41.2% |
| 23) | Ukraine | -$136.2 million | up 3,898% |
| 24) | Papua New Guinea | -$107.3 million | down -52% |
| 25) | Belgium | -$106.3 million | down -405.3% |
| 26) | Ireland | -$96.1 million | down -58.3% |
| 27) | Turkey | -$76.8 million | up 153.7% |
| 28) | Uruguay | -$75.4 million | up 86.2% |
| 29) | Denmark | -$69.1 million | up 32.1% |
| 30) | Israel | -$60.6 million | down -46.8% |
| 31) | Norway | -$40.5 million | down -26.9% |
| 32) | Switzerland | -$33.8 million | up 70.1% |
| 33) | Sweden | -$31.4 million | down -54.9% |
| 34) | Bulgaria | -$14.2 million | down -48.1% |
| 35) | Bangladesh | -$10.8 million | down -130.2% |
| 36) | Belarus | -$8.9 million | up 43.5% |
| 37) | Montenegro | -$6.9 million | up 33.1% |
| 38) | Cambodia | -$6 million | down -170.1% |
| 39) | Solomon Islands | -$5.3 million | down -72.2% |
| 40) | Chile | -$5.1 million | down -90.6% |
| 41) | Kenya | -$4.8 million | down -334.3% |
| 42) | Congo | -$4.7 million | down -725.8% |
| 43) | Paraguay | -$4.4 million | down -6,228% |
| 44) | Zambia | -$3.6 million | up 192.6% |
| 45) | Jordan | -$3.4 million | down -86.6% |
| 46) | Slovenia | -$3.4 million | up 57.7% |
| 47) | Malawi | -$3.3 million | down -68.9% |
| 48) | Nigeria | -$3 million | down -158.6% |
| 49) | Kiribati | -$2.8 million | down -1,569% |
| 50) | Tanzania | -$2.7 million | down -214.3% |
| 51) | Jamaica | -$1.9 million | down -438.2% |
| 52) | Mozambique | -$1.6 million | down -64% |
| 53) | Zimbabwe | -$1.6 million | up 47.7% |
| 54) | Croatia | -$1.5 million | down -241.6% |
| 55) | Cayman Islands | -$1.4 million | down -1,139% |
| 56) | Oman | -$1.3 million | down -105.9% |
| 57) | Lithuania | -$1.2 million | down -54.4% |
| 58) | Honduras | -$1.2 million | down -157.7% |
| 59) | Moldova | -$958,000 | up 599.3% |
| 60) | Bosnia/Herzegovina | -$918,000 | down -137.7% |
| 61) | Greece | -$656,000 | down -106.1% |
| 62) | Mauritius | -$651,000 | down -144.6% |
| 63) | Kyrgyzstan | -$519,000 | up 18.2% |
| 64) | Angola | -$507,000 | down -177.1% |
| 65) | Vanuatu | -$372,000 | down -91.5% |
| 66) | Ecuador | -$328,000 | down -181% |
| 67) | Swaziland | -$316,000 | down -302.6% |
| 68) | Norfolk Island | -$267,000 | down -240.5% |
| 69) | Turks/Caicos Islands | -$203,000 | down -3,483% |
| 70) | Gabon | -$172,000 | down -107.4% |
| 71) | French South Antarctic | -$151,000 | down -587.1% |
| 72) | Nicaragua | -$127,000 | down -146.9% |
| 73) | Grenada | -$125,000 | down -12,600% |
| 74) | Faroe Islands | -$113,000 | up 5,550% |
| 75) | Christmas Islands | -$104,000 | down -842.9% |
| 76) | Greenland | -$103,000 | down -10,400% |
| 77) | Anguilla | -$96,000 | down -9,700% |
| 78) | Lesotho | -$61,000 | up 48.8% |
| 79) | Eritrea | -$59,000 | down -6,000% |
| 80) | Chad | -$58,000 | down -2,033% |
| 81) | Iceland | -$58,000 | down -112.9% |
| 82) | Belize | -$42,000 | down -147.7% |
| 83) | Miscellaneous Areas | -$41,000 | down -1,125% |
| 84) | Guatemala | -$33,000 | down -101.6% |
| 85) | Mali | -$22,000 | down -100.5% |
| 86) | Sao Tome/Principe | -$11,000 | down -119.3% |
| 87) | Namibia | -$2,000 | down -100.4% |
Among its top 10 deficits by country, the Philippines demonstrated significant competitive disadvantages particularly versus its South East Asian neighbors and Saudi Arabia by racking up billion-dollar trade debts.
The fastest-growing Filipino trade deficits were inflicted by Kuwait (up 13,766%), Faroe Islands (up 5,550%), Ukraine (up 3,898%), Finland (up 1,286%) and China (up 1,164%).
Resources
The World Factbook, East & Southeast Asia: Philippines, Central Intelligence Agency. Accessed on April 22, 2016
Trade Map, International Trade Centre. Accessed on April 22, 2016
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