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2022
Exports $537kWorld Rnk 54 / 156
Flag Rnk 658 / 1127
2022
Destination $117k Malaysia
2021 - 2022
FASTEST GROWING MARKET $117kMalaysia
2022
PRODUCT COMPLEXITY IN Drilling Machines1.13Rnk 123 / 1025
2022
Imports $8.83MWorld Rnk 52 / 210
Flag Rnk 742 / 1201
2022
Origin $741k China
2021 - 2022
FASTEST GROWING ORIGIN $741kJapan
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $537k in Drilling Machines, making it the 54th largest exporter of Drilling Machines in the world. At the same year, Drilling Machines was the 658th most exported product in Philippines. The main destination of Drilling Machines exports from Philippines are: Malaysia ($177k), Germany ($114k), Indonesia ($99.9k), Thailand ($63k), and Singapore ($44.5k).

The fastest growing export markets for Drilling Machines of Philippines between 2021 and 2022 were Malaysia ($117k), Germany ($114k), and Indonesia ($93.3k).

Imports In 2022, Philippines imported $8.83M in Drilling Machines, becoming the 52nd largest importer of Drilling Machines in the world. At the same year, Drilling Machines was the 742nd most imported product in Philippines. Philippines imports Drilling Machines primarily from: China ($3.2M), Japan ($1.87M), Germany ($745k), Singapore ($589k), and Chinese Taipei ($519k).

The fastest growing import markets in Drilling Machines for Philippines between 2021 and 2022 were Japan ($741k), Germany ($426k), and Thailand ($136k).

Latest Trends

August 2024

About

Overview In August 2024 Philippines' Drilling Machines exports accounted up to $19k and imports accounted up to $581k, resulting in a negative trade balance of $562k. Between September 2022 and August 2024 the exports of Philippines'   Drilling Machines have decreased by $-21.3k (-52.8%) from $40.3k to $19k, while imports decreased by $-567k (-49.4%) from $1.15M to $581k.

Destinations In August 2024, Drilling Machines were exported mostly to South Korea ($19k), and were imported mostly from China ($331k), Germany ($114k), South Korea ($66.2k), Japan ($35.4k), and Chinese Taipei ($18.2k).

Growth In August 2024, the decrease in Drilling Machines's year-by-year exports was explained primarily by a decrease in exports to . In August 2024, the decrease in Drilling Machines's year-by-year imports was explained primarily by a decrease in imports from South Korea ($-176k or -98.9%) and Japan ($-164k or -70.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2022 - August 2024)$-21.3k(-52.8%)
IMPORT GROWTH (August 2023 - August 2024)$-567k(-49.4%)
MAIN DESTINATION (August 2024)South Korea$19k

This section shows Drilling Machines'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 Drilling Machines over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$537k
IMPORTS (2022)$8.83M
NET TRADE (2022)-$8.29M

In 2022, Philippines exported $537k in Drilling Machines. The main destinations of Philippines exports on Drilling Machines were Malaysia ($177k), Germany ($114k), Indonesia ($99.9k), Thailand ($63k), and Singapore ($44.5k).

In 2022, Philippines imported $8.83M in Drilling Machines, mainly from China ($3.2M), Japan ($1.87M), Germany ($745k), Singapore ($589k), and Chinese Taipei ($519k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Drilling Machines EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Malaysia$117k (195%)
Germany$114k (1%)
Indonesia$93.3k (1.42k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Drilling Machines BY Philippines WERE (2021 - 2022):
Japan-$217k (-90%)
South Korea-$98.8k (-89.4%)
India-$84.4k (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Drilling Machines were:
Germany $530M
China $481M
Italy $319M
In 2022, Philippines's main importing competitors in Drilling Machines were:
China $323M
United States $317M
Germany $221M

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Trade Value of Drilling Machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALGermany+ $77.7k
TOP IMPORT POTENTIALChina+ $1.01M

Drilling Machines’s highest export potential is Germany. With an export gap of $77.7k.   Drilling Machines’s highest import potential is China with an import gap of $1.01M.

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