What are The Top 10 Exports from The Philippines?

THE PHILIPPINES AT A GLANCE

The Philippines is a nation that is located in Southeast Asia in the Asian continent. The capital of the country is named “Manila” and it is one of the major ports of the Philippines where international trade takes place on regular basis. The country is surrounded by water bodies from almost all its borders like the South China Sea to its west, the Pacific Ocean to its east, and the Celebes Sea to its southern end. Countries with whom the Philippines shares the land borders are China, Indonesia, Palau, and Vietnam.

The country comprises almost 7,100 islands spread across an area of approx. 3 lakh sq. km. The climate of the nation is tropical, and the literacy rate is close to 93%. The currency used here is called Philippine Peso which is equated to the US dollar as 1 Philippine Peso equals 50-54 USD. In this article, we will explore the top 10 export products of the Philippines and its major export trends for 2023-24.

KEY HIGHLIGHTS OF PHILIPPINES TOP EXPORTS

• The Philippines is the 38th biggest exporter in the world.
• According to the Philippines export data, total exports from the Philippines accounted for $72.92 billion in 2023 with an 8% decline from the previous year.
• Electrical machinery and equipment are the biggest exports of the Philippines worth $40.48 billion in 2023.
• The Philippines exports the most goods to the USA worth $11.42 billion in 2023.
• The contribution of Philippines exports to its GDP is 28.39% of the export share.
• The Philippines has a 0.43% export share in global exports.
• In the first quarter of 2024, the Philippines exported $17.97 billion in goods.

Philippines Top Exports in 2024

According to the Philippines export data, in the first quarter of 2024, the Philippines' export sector showcased a diversified range of products contributing significantly to the economy. Topping the list of the top 10 exports of the Philippines in 2024 were electrical machinery and equipment, generating $9.76 billion in revenue. Following closely were nuclear reactors and machinery at $1.86 billion, and optical, medical, or surgical instruments at $609.73 million. The export landscape further included copper and articles thereof at $523.75 million, edible fruit and nuts at $514.38 million, ores, slag, and ash at $445.01 million, and animal, vegetable, or microbial fats and oils at $423.29 million. Noteworthy additions were pearls, precious stones, and metals at $329.82 million, plastics and articles thereof at $294.22 million, and vehicles at $255.85 million. This robust portfolio of export products highlights the country's proficiency in various industries, leading to a promising economic outlook for the Philippines in the international market.

TOP 10 EXPORT PRODUCTS OF THE PHILIPPINES

The Philippines is a tropical country and has into exporting numerous products to the world for ages. According to the Philippines Export Data for 2023, the Philippines exported goods worth $72.92 billion to people across the globe. As per officials, the Philippines Trade Data, and other reports, the major items that were exported from the Philippines in 2023 were:

1. Electrical Machinery and Equipment (HS Code 85)

At the top of the list is electrical machinery and equipment, which accounts for a substantial 55.65% of the total exports from the Philippines. With a value of $40.58 billion, this category includes a wide range of products such as electrical transformers, electrical capacitors, and parts of electrical machines. Its top 10 exports include:

• Electronic integrated circuits: $25.99 billion
• Insulated wires and cables: $3.05 billion
• Electrical transformers and static converters: $1.76 billion
• Semiconductor Devices: $1.31 billion
• Electrical Capacitors: $1.14 billion
• Telephones and Smartphones: $1.12 billion
• Discs, Tapes, and smart cards: $977.74 million
• Electrical apparatus: $774.89 million
• Printed circuits: $634.22 million
• Radar apparatus: $514.20 million

2. Nuclear Reactors and Machinery (HS Code 84)

Nuclear reactors and machinery come in second place, representing 8.7% of the Philippines' total exports. With a value of $6.34 billion, these products play a crucial role in the energy sector and technological advancements. Its top 10 exports include:

• Printing Machinery: $1.57 billion
• Automatic Data Processing Machines: $1.28 billion
• Taps, Valves, and appliances for pipes: $983.51 million
• Parts and accessories: $904.83 million
• Air or vacuum pumps: $317.60 million
• Transmission Shafts: $117.32 million
• Office machines: $113.61 million
• Engines and motors: $110.44 million
• Calculating Machines: $98.87 million
• Air conditioning machines: $77.52 million

3. Copper and Articles Thereof (HS Code 74)

Copper and articles thereof make up 3.45% of the Philippines' export products, with a value of $2.51 billion. This category includes copper ores, copper waste, and scrap, as well as copper tubes and pipes. Its top 10 exports in 2023 include:

• Copper refined and copper alloys: $1.96 billion
• Waste and scrap of copper: $208.08 million
• Unrefined copper: $202.51 million
• Copper Foil: $85.91 million
• Copper Wire: $38.74 million
• Table, kitchen, or household articles: $9.65 million
• Other articles of copper: $5.51 million
• Plates, sheets, and strips of copper: $1.26 million
• Stranded wires and cables of copper: $836K
• Copper tubes and pipes: $336K

4. Optical, Medical, or Surgical Instruments (HS Code 90)

The Philippines also exports a significant amount of optical, medical, or surgical instruments, accounting for 3.44% of total exports. With a value of $2.50 billion, these products are vital for the healthcare industry and contribute to the country's overall export revenue. Its top 10 exports in 2023 include:

• Oscilloscopes and spectrum analyzers: $816.88 million
• Optical fibers and bundles: $348.98 million
• Orthopedic appliances: $271.53 million
• Instruments used in medical, dental, or veterinary sciences: $258.50 million
• Revolution counters, taximeters, and milometers: $197.31 million
• Measuring or checking instruments: $151.66 million
• Regulating or controlling instruments: $74.97 million
• Lenses, prisms, mirrors, and optical elements: $71.12 million
• Frames and mountings for spectacles or goggles: $56.18 million
• Photographic cameras: $51.38 million

5. Ores, Slag, and Ash (HS Code 26)

Ores, slag, and ash make up 3.06% of the Philippines' export products, with a value of $2.23 billion. This category includes a variety of mineral products such as iron ores, copper ores, and aluminum ores. Its top 10 exports in 2023 include:

• Nickel ores and concentrates: $1.08 billion
• Copper ores and concentrates: $741.82 million
• Iron ores and concentrates: $360.40 million
• Chromium ores and concentrates: $26.41 million
• Precious metal ores and concentrates: $20.37 million
• Slag, ash, and residues: $1.38 million
• Slag, dross, and scaling: $1.17 million
• Zinc ores and concentrates: $214K
• Granulated Slag: $7K
• Slag and ash including seaweed ash: $6K

6. Edible Fruit and Nuts (HS Code 08)

Edible fruit and nuts are also significant export products for the Philippines, representing 2.68% of total exports. With a value of $1.95 billion, these products include fresh fruits, nuts, and dried fruits that are in demand both locally and internationally. Its top 10 exports in 2023 include:

• Bananas: $1.22 billion
• Dates, pineapples, avocados, guavas, and mangoes: $411.09 million
• Coconuts: $250.16 million
• Steamed or boiled fruits and nuts: $38.21 million
• Dried apricots, apples, peaches, and papayas: $13.52 million
• Fresh strawberries, raspberries, and blackberries: $12.32 million
• Melons including watermelons: $8.98 million
• Other nuts: $150K
• Provisionally preserved fruits and nuts: $92K
• Citrus fruits: $72K

7. Precious Stones and Metals (HS Code 71)

Precious stones and metals contribute 1.96% to the Philippines' export industry, with a value of $1.43 billion. This category includes products such as gold, diamonds, and precious gemstones that are highly sought after in global markets. Its top 10 exports in 2023 include:

• Gold: $1.20 billion
• Waste and scrap of precious metals: $142.94 million
• Articles of jewelry and parts thereof: $26.13 million
• Natural or cultured pearls: $23.83 million
• Base metals or silver, clad with gold: $18.46 million
• Imitation Jewelry: $12.62 million
• Silver: $2.19 million
• Articles of natural or cultured pearls: $1.31 million
• Base metals, silver or gold, clad with platinum: $1.25 million
• Precious and semi-precious stones: $147K

8. Animal, Vegetable, or Microbial Fats and Oils (HS Code 15)

Fats and oils derived from animals, vegetables, or microbial sources are also essential export products for the Philippines, representing 1.76% of total exports. With a value of $1.28 billion, these products are used in various industries such as food and cosmetics. Its top 10 exports in 2023 include:

• Coconut copra, palm kernel, or babassu oil: $1.17 billion
• Palm oil and its fractions: $52.25 million
• Hydrogenated animal or vegetable fats and oils: $31.85 million
• Oxidized animal or vegetable fats and oils: $11.68 million
• Fats and oils of fish or marine animals: $6.78 million
• Glycerol: $5.01 million
• Margarine: $2.58 million
• Vegetable waxes: $442K
• Fixed vegetables or microbial fats and oils: $154K
• Mustard oil and fractions thereof: $106K

9. Plastics and Articles Thereof (HS Code 39)

Plastics and articles thereof account for 1.45% of the Philippines' export products, with a value of $1.05 billion. This category includes plastic materials, plastic products, and plastic components that are widely used in manufacturing and construction. Its top 10 exports in 2023 include:

• Tubes, pipes, and hoses: $310.27 million
• Articles of plastics: $193.09 million
• Waste and scrap plastics: $85.34 million
• Tableware and Kitchenware of plastics: $83.29 million
• Polymers of propylene: $68.22 million
• Articles for the conveyance or packing of goods: $64.21 million
• Polymers of Ethelyn: $61.34 million
• Builders’ ware of plastics: $50.82 million
• Plates, sheets, and foil of plastics: $35.84 million
• Plates, sheets, and foil of non-cellular plastics: $34.40 million

10. Vehicles (HS Code 87)

Rounding up the top 10 export products of the Philippines are vehicles, representing 1.29% of total exports. With a value of $942.17 million, this category includes a wide range of vehicles such as cars, trucks, and motorcycles that are exported to various countries around the world. Its top 10 exports in 2023 include:

• Parts and accessories for tractors: $810.31 million
• Parts and accessories for motorcycles and bicycles: $57.82 million
• Motorcars and other motor vehicles: $32.95 million
• Motorcycles: $25.53 million
• Tanks: $4.36 million
• Bicycles: $2.56 million
• Bodies including cabs for tractors: $2.10 million
• Baby carriages and parts thereof: $1.95 million
• Motor vehicles for the transport of goods: $1.70 million
• Motor vehicles for the transport of less than 10 persons: $1.27 million

The exports of the above-mentioned goods are the most from the Philippines and they are considered as the top 10 exporting goods from the Philippines as listed in the Philippines Export Data for the year 2023.

Apart from these top 10 products, some other items that were exported in small quantities in 2023 were mineral fuels and oil, leather articles, ships, and boats.

PHILIPPINES EXPORT BY COUNTRY | TOP 10 EXPORT PARTNERS OF PHILIPPINES

So, we have learned about the top export products from the Philippines to the world, in this section, we are going to mention the major export partners of the Philippines as mentioned in the Philippines Export data to whom the products are sent the most. The top 10 export partners of the Philippines in 2023 are as follows:

• USA: 15.7% (11.42 billion US$)
• China: 14.6% (10.64 billion US$)
• Japan: 14.3% (10.42 billion US$)
• Hong Kong: 12% (8.77 billion US$)
• Singapore: 4.8% (3.52 billion US$)
• South Korea: 4.8% (3.47 billion US$)
• Netherlands: 4.2% (3.08 billion US$)
• Thailand: 4% (2.93 billion US$)
• Taiwan: 3.6% (2.62 billion US$)
• Germany: 3.4% (2.47 billion US$)

Out of the total exports of the Philippines in the year 2023, which was USD 72.92 billion, the majority of exports were made to the above-mentioned 10 nations. We are hoping to see more increment in these figures in the upcoming years.

PHILIPPINES EXPORT DATA IN THE LAST 10 YEARS

Top 10 Philippines Exporter Companies

The biggest exporters in the Philippines with their export revenues in 2023-24 include:

1. Samsung Electronics Philippines (Taguig City) $30 billion
2. Philippine Semiconductor and Electronics Industries (PSEI) (Makati City): $25 billion
3. Nike Philippines (Taguig City): $5 billion
4. Cebu Pacific Air (Cebu City): $4 billion
5. Nestlé Philippines (Makati City): $3 billion
6. San Miguel Corporation (Mandaluyong City): $2.5 billion 
7. Universal Robina Corporation (Quezon City): $2 billion
8. Converge ICT Solutions (Pasig City): $1.8 billion 
9. Jollibee Foods Corporation (Quezon City): $1.5 billion
10. Del Monte Philippines (Makati City): $1.2 billion

CONCLUSION

In the end, we just want to state that the Philippines is a country that has managed to keep its trade relations in good health with many nations. It is indeed a friendly and emerging country with a lot of opportunities that would arise slowly in the future for the people, as well as the traders of this nation.

IMPORTANT ADVISORY

We hope you would have liked our informative report about the top 10 export products from the Philippines in recent times accompanied by the top 10 export partners of the Philippines as of 2023. For more such amazing and informative stuff, stay in touch with us on our social handles and website. Contact us for Import Export Data from 80+ countries like Vietnam, the Philippines, and Turkey so that you remain a step ahead of your competitors and generate more effective strategy and profits.

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