Philippines: Exports, percent of GDP

* indicates monthly or quarterly data series

Exports of goods and services as percent of GDP

 Latest value 28.39
 Year 2022
 Measure percent
 Data availability 1981 - 2022
 Average 28.24
 Min - Max 13.87 - 43.34
 Source The World Bank
For that indicator, we provide data for the Philippines from 1981 to 2022. The average value for the Philippines during that period was 28.24 percent with a minimum of 13.87 percent in 1982 and a maximum of 43.34 percent in 2000. The latest value from 2022 is 28.39 percent. For comparison, the world average in 2022 based on 149 countries is 47.96 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Philippines - Exports, percent of GDP - Recent values chart

Historical chart
Philippines - Exports, percent of GDP - historical chart - 1981-2022

The exports of the Philippines and other countries are calculated as the total amount of goods and services produced at home and sold abroad. Exports are often reported as percent of GDP so that we can evaluate their magnitude relative to the size of the economy.

If exports are about 15 percent or less of GDP the economy is considered relatively closed as only 15 percent of its products are sold internationally. That, for example, applies to the U.S. In contrast, many small European countries export over 40 percent of their production. They are considered more open to international trade.
Definition: Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. They include the value of merchandise, freight, insurance, transport, travel, royalties, license fees, and other services, such as communication, construction, financial, information, business, personal, and government services. They exclude compensation of employees and investment income (formerly called factor services) and transfer payments.

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 Related indicators Latest value Reference Measure
 Terms of trade 95.83 2021 percent
 Trade openness 72.44 2022 percent
 Financial openness -0.042 2021 index points
 Exports, percent of GDP 28.39 2022 percent
 Exports, billion dollars 116.52 2023 billion U.S. dollars
 Growth of exports 10.90 2022 percent
 Imports, percent of GDP 44.03 2022 percent
 Imports, billion dollars 178.11 2023 billion U.S. dollars
 Foreign Direct Investment, percent of GDP 2.32 2022 percent
 Foreign Direct Investment, billion dollars 9.49 2022 billion U.S. dollars
 Portfolio investment inflows, equities 396.30 2023 million dollars (current)
 Current account, percent of GDP -0.40 2023 percent
 Current account, in dollars -11.21 2023 billion U.S. dollars
 Trade balance, percent of GDP -15.65 2022 percent
 Trade balance, in dollars -46.67 2023 billion U.S. dollars
 Reserves 96.04 2022 billion U.S. dollars
 Remittances, percent of GDP 2.24 2022 percent
 Remittances 9,066.86 2022 million U.S. dollars
 Net errors and omissions -603.57 2023 million USD
 External debt 25.98 2022 percent
 Short-term external debt 14.94 2022 percent
 Short-term debt to reserves 17.30 2022 percent
 Foreign exchange reserves 98.12 9/2023 billion
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