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2023
Exports $1.93MWorld Rnk 28 / 77
Flag Rnk 519 / 1123
2023
Destination $1.24M United States
2022 - 2023
FASTEST GROWING MARKET $1.24MUnited States
2023
PRODUCT COMPLEXITY IN Animal Fat0.44Rnk 389 / 1025
2023
Imports $86.9MWorld Rnk 1 / 162
Flag Rnk 234 / 1202
2023
Origin $9.18M Spain
2022 - 2023
FASTEST GROWING ORIGIN $9.18MSpain
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $1.93M in Animal Fat, making it the 28th largest exporter of Animal Fat in the world. At the same year, Animal Fat was the 519th most exported product in Philippines. The main destination of Animal Fat exports from Philippines are: United States ($1.24M), Canada ($432k), China ($102k), Malaysia ($81.2k), and Australia ($74.7k).

The fastest growing export markets for Animal Fat of Philippines between 2022 and 2023 were United States ($1.24M), Canada ($432k), and China ($102k).

Imports In 2023, Philippines imported $86.9M in Animal Fat, becoming the 1st largest importer of Animal Fat in the world. At the same year, Animal Fat was the 234th most imported product in Philippines. Philippines imports Animal Fat primarily from: Spain ($42.5M), France ($9.9M), Netherlands ($7.76M), Brazil ($7.7M), and Canada ($6.29M).

The fastest growing import markets in Animal Fat for Philippines between 2022 and 2023 were Spain ($9.18M), Brazil ($5.56M), and Denmark ($1.03M).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Animal Fat exports accounted up to $92.6k and imports accounted up to $12.4M, resulting in a negative trade balance of $12.3M. Between July 2023 and July 2024 the exports of Philippines'   Animal Fat have decreased by $-312k (-77.1%) from $405k to $92.6k, while imports increased by $2.73M (28.1%) from $9.71M to $12.4M.

Destinations In July 2024, Animal Fat were exported mostly to Canada ($92.6k), and were imported mostly from Spain ($6.18M), Brazil ($1.26M), Canada ($1.18M), France ($1.05M), and Belgium ($898k).

Growth In July 2024, the decrease in Animal Fat's year-by-year exports was explained primarily by a decrease in exports to . In July 2024, the increase in Animal Fat's year-by-year imports was explained primarily by an increase in imports from Brazil ($728k or 597%), Canada ($312k or 250%), and Belgium ($162k or 247%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-312k(-77.1%)
IMPORT GROWTH (July 2023 - July 2024)$2.73M(28.1%)
MAIN DESTINATION (July 2024)Canada$92.6k

This section shows Animal Fat'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 Animal Fat over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$1.93M
IMPORTS (2023)$86.9M
NET TRADE (2023)-$84.9M

In 2023, Philippines exported $1.93M in Animal Fat. The main destinations of Philippines exports on Animal Fat were United States ($1.24M), Canada ($432k), China ($102k), Malaysia ($81.2k), and Australia ($74.7k).

In 2023, Philippines imported $86.9M in Animal Fat, mainly from Spain ($42.5M), France ($9.9M), Netherlands ($7.76M), Brazil ($7.7M), and Canada ($6.29M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Animal Fat EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
United States$1.24M (1%)
Canada$432k (1%)
China$102k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Animal Fat BY Philippines WERE (2022 - 2023):
Denmark-$30k (-100%)
Switzerland-$82 (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Animal Fat were:
Spain $186M
Germany $121M
Canada $79.1M
In 2023, Philippines's main importing competitors in Animal Fat were:
Japan $78.5M
Belgium $58.1M

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Trade Value of Animal Fat by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $861
TOP IMPORT POTENTIALBelgium+ $124k

Animal Fat’s highest export potential is Japan. With an export gap of $861.   Animal Fat’s highest import potential is Belgium with an import gap of $124k.

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