The invention provides a compact pipe handling trailer for a drilling or service rig. The pipe handling trailer includes a deck having a raised frame and an extended horizontal frame. A trough is pivotally housed within the extended horizontal frame, the trough having a first end and a second end. A first piston/cylinder assembly is operably coupled to the first end of the trough; a second piston/cylinder assembly is operably coupled proximal to the second end of the trough. An operating means for the pipe handling trailer is provided within the raised frame of the deck. The pipe handling trailer is transportable and is attached to a trailer on a common axle. A number of retractable downriggers are provided on the deck to position the pipe handling trailer firmly to the ground.