It did not specify when the aircraft would be ordered.
The FA-50s were the first order by the Philippines for advanced combat aircraft in decades amid the increasing tensions with China over disputed territories in the South China Sea.
The SIPRI report from Stockholm on Monday said the five biggest weapons exporters in 2010-14 were the United States, Russia, China, Germany and France, and the five biggest importers were India, Saudi Arabia, China, United Arab Emirates and Pakistan.
The top five exporters were responsible for almost 74 percent of all arms exports.
The report said many states in Southeast Asia significantly modernized and expanded their fleets of combat aircraft in 2010-2014.
Singapore received 32 F-15E jets from the United States in 2010-14 and in 2014 ordered six A330 tanker aircraft from Spain.
Vietnam received 24 Su-30 fighter jets from Russia and eight more are on order.
Indonesia received three Su-27 and six Su-30 aircraft from Russia, the first five of 24 F-16C aircraft from the US and 16 T-50 light combat aircraft from South Korea. It has placed an order for 50 KFX combat aircraft from South Korea and has plans to procure a large number of new combat and tanker aircraft.
Thailand received 12 Gripen-C combat aircraft from Sweden.
Malaysia is looking at several potential suppliers for a planned order of 18 new combat aircraft and has four A400M tanker/transport aircraft on order from Spain.
Korea Aerospace Industries (KAI) T-50 Golden Eagle Light Combat Aircraft.