Refined Petroleum in Philippines

EXPORTS (2018): $584M, World Rnk 71 / 198
Flag Rnk 20 / 1084

TOP DESTINATION (2018): $262M, Singapore

FASTEST GROWING MARKET (2017 - 2018): $141M, Singapore

IMPORTS (2018): $9.22B, World Rnk 23 / 221
Flag Rnk 2 / 1201

TOP ORIGIN (2018): $2.83B, Chinese Taipei

FASTEST GROWING ORIGIN (2017 - 2018): $2.66B, Chinese Taipei

ECONOMIC COMPLEXITY of Philippines (2018): 0.5, Rnk 46 / 137

PRODUCT COMPLEXITY  IN Refined Petroleum (2018): -0.97, Rnk 812 / 1018

Overview: This page contains the latest trade data of Refined Petroleum in Philippines.

Exports: In 2018, Philippines exported $584M in Refined Petroleum, making it the 71st largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 20th most exported product in Philippines. The main destination of Refined Petroleum exports from Philippines are: Singapore ($262M), Chinese Taipei ($127M), China ($106M), Malaysia ($61.7M), and South Korea ($12.7M).

The fastest growing export markets for Refined Petroleum of Philippines between 2017 and 2018 were Singapore ($141M), China ($105M), and Chinese Taipei ($94.9M).

Imports: In 2018, Philippines imported $9.22B in Refined Petroleum, becoming the 23rd largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Philippines. Philippines imports Refined Petroleum primarily from: Chinese Taipei ($2.83B), China ($2.33B), South Korea ($2.09B), Singapore ($669M), and Malaysia ($368M).

The fastest growing import markets in Refined Petroleum for Philippines between 2017 and 2018 were Chinese Taipei ($2.66B), South Korea ($661M), and China ($515M).

Tariffs: In 2018, the average tariff for Philippines in Refined Petroleum was 0.14%. The countries with the highest import tariffs for Refined Petroleum were India (1%), Angola (0.15%), Burundi (0.15%), Benin (0.15%), and Burkina Faso (0.15%).

Overview: In July 2020 Philippines' Refined Petroleum exports accounted up to $259k and imports accounted up to $606M, resulting in a negative trade balance of $605M. Between July 2019 and July 2020 the exports of Philippines'   Refined Petroleum have decreased by $-3.07M (-92.2%) from $3.33M to $259k, while imports decreased by $-208M (-25.6%) from $814M to $606M.

Destinations: In July 2020 Refined Petroleum exported mostly to Vietnam ($105k), Malaysia ($68.4k), Australia ($34.6k), Cambodia ($27.4k), and Singapore ($8.17k), and imported mostly from Singapore ($140M), China ($131M), Malaysia ($100M), India ($79.3M), and South Korea ($69.1M).

Growth: In July 2020, the decrease in Refined Petroleum's year-by-year exports was explained primarily by a decrease in exports to Malaysia ($-14.5k or -17.5%) and Vietnam ($-2.05k or -1.91%). In July 2020, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from China ($-196M or -60%), South Korea ($-136M or -66.2%), and Singapore ($-8.1M or -5.48%).

Subnational Monthly Trade

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Flow
Value

EXPORT GROWTH (July 2019 - July 2020): $-3.07M, (-92.2%)

IMPORT GROWTH (July 2019 - July 2020): $-208M, (-25.6%)

MAIN DESTINATION (July 2020): Vietnam, $105k

This section shows Refined Petroleum's exports and imports data at subnational level for Philippines. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Refined Petroleum over time.

Value

EXPORTS (2018): $584M

IMPORTS (2018): $9.22B

NET TRADE (2018): -$8.64B

In 2018, Philippines exported $584M in Refined Petroleum. The main destinations of Philippines exports on Refined Petroleum were Singapore ($262M), Chinese Taipei ($127M), China ($106M), Malaysia ($61.7M), and South Korea ($12.7M).

In 2018, Philippines imported $9.22B in Refined Petroleum, mainly from Chinese Taipei ($2.83B), China ($2.33B), South Korea ($2.09B), Singapore ($669M), and Malaysia ($368M).

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IN 2018, Philippines HAD A POSITIVE NET TRADE IN Refined Petroleum WITH:

  • United States, $2.97M ($10.6M - $7.63M)
  • Cambodia, $294k ($294k - $0)
  • Israel, $78.2k ($78.2k - $0)

IN 2018, Philippines HAD A NEGATIVE NET TRADE IN Refined Petroleum WITH:

  • Chinese Taipei, -$2.7B ($127M - $2.83B)
  • China, -$2.23B ($106M - $2.33B)
  • South Korea, -$2.08B ($12.7M - $2.09B)
Flow

THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Philippines WERE (2017 - 2018):

THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Philippines WERE (2017 - 2018):

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Market Concentration

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Type

In 2018, Philippines's main exporting competitors in Refined Petroleum were:

In 2018, Philippines's main importing competitors in Refined Petroleum were:

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Trade Forecasts

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Time

This section shows forecasts for total exports and imports, for Refined Petroleum in Philippines. The forecast is based on a short-term, medium-term and long-term model using yearly trade data.

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Tariffs by Country

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In 2018, the average tariff for Philippines in Refined Petroleum was 0.14%.

The countries with the highest tariffs for Refined Petroleum in Philippines were India (1%), Angola (0.15%), Burundi (0.15%), Benin (0.15%), and Burkina Faso (0.15%).

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