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Philippines Trade (% GDP)

Philippines' trade (% GDP) fell to 65.89% in 2024, down from 67.42% in 2023, according to World Bank. This represents a decrease of 1.53% from the previous year. The Philippines has trade (% GDP) lower than the global median (65.89% vs median 84.49%). Compared with the median in Asia, the Philippines is lower (65.89% vs regional median 82.69%) and ranks 28th out of 45 countries in Asia.

Yearly Historical Data (1981-2024)

(in %)
Year Trade (% GDP)
2024 65.89%
2023 67.42%
2022 72.43%
2021 63.48%
2020 58.17%
2019 68.84%
2018 72.16%
2017 68.17%
2016 61.78%
2015 59.14%
2014 57.47%
2013 55.82%
2012 57.84%
2011 60.8%
2010 66.1%
2009 60.89%
2008 67.68%
2007 73.64%
2006 80.85%
2005 83.85%
2004 87.13%
2003 87.57%
2002 83.84%
2001 84.9%
2000 85.15%
1999 77.16%
1998 80.08%
1997 77.23%
1996 63.86%
1995 57.33%
1994 52.53%
1993 50.47%
1992 44.99%
1991 44.22%
1990 42.92%
1989 41.28%
1988 39.32%
1987 37.36%
1986 34.74%
1985 32.84%
1984 34.82%
1983 34.31%
1982 32.18%
1981 35.27%
Philippines Trade (% GDP) : Definition
Trade (% GDP) measures the sum of exports and imports for Philippines divided by its total economic output, shown as a percentage.
Indicator Last Value Prior Value Period
Annual Exports $72.98B $72.92B 2024
Annual Imports $134.88B $133.75B 2024
Balance of Trade -$3.5B -$4.4B Aug'25
Exports $7.1B $7.3B Aug'25
Exports (% GDP) 25.77% 26.64% 2024
FDI Inflows (% GDP) 1.93% 2.04% 2024
Imports $10.6B $11.8B Aug'25
Imports (% GDP) 40.11% 40.78% 2024
Net Trade (Goods & Services, BoP) -$54.16B -$47.85B 2024
Tariff Rate 3.94% 4.01% 2022