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2023
Exports $695kWorld Rnk 61 / 164
Flag Rnk 618 / 1123
2023
Destination $364k Singapore
2022 - 2023
FASTEST GROWING MARKET $364kSingapore
2023
PRODUCT COMPLEXITY IN Drilling Machines1.11Rnk 139 / 1025
2023
Imports $11.1MWorld Rnk 48 / 213
Flag Rnk 649 / 1202
2023
Origin $1.17M China
2022 - 2023
FASTEST GROWING ORIGIN $1.17MChinese Taipei
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $695k in Drilling Machines, making it the 61st largest exporter of Drilling Machines in the world. At the same year, Drilling Machines was the 618th most exported product in Philippines. The main destination of Drilling Machines exports from Philippines are: Singapore ($408k), Germany ($156k), United States ($67.7k), Denmark ($38.9k), and Tanzania ($9.2k).

The fastest growing export markets for Drilling Machines of Philippines between 2022 and 2023 were Singapore ($364k), United States ($67.7k), and Denmark ($38.9k).

Imports In 2023, Philippines imported $11.1M in Drilling Machines, becoming the 48th largest importer of Drilling Machines in the world. At the same year, Drilling Machines was the 649th most imported product in Philippines. Philippines imports Drilling Machines primarily from: China ($2.91M), Japan ($2.27M), Chinese Taipei ($1.64M), United States ($1.5M), and Germany ($1.01M).

The fastest growing import markets in Drilling Machines for Philippines between 2022 and 2023 were Chinese Taipei ($1.17M), United States ($1.13M), and Denmark ($467k).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Drilling Machines exports accounted up to $112k and imports accounted up to $660k, resulting in a negative trade balance of $548k. Between August 2022 and July 2024 the exports of Philippines'   Drilling Machines have increased by $90.7k (425%) from $21.3k to $112k, while imports decreased by $-113k (-14.6%) from $773k to $660k.

Destinations In July 2024, Drilling Machines were exported mostly to Chinese Taipei ($66k), Vietnam ($45k), Denmark ($600), China ($284), and India ($187), and were imported mostly from China ($472k), Japan ($65.5k), Chinese Taipei ($54.6k), United States ($39.8k), and Vietnam ($15.6k).

Growth In July 2024, the increase in Drilling Machines's year-by-year exports was explained primarily by an increase in exports to . In July 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 (August 2022 - July 2024)$90.7k(425%)
IMPORT GROWTH (July 2023 - July 2024)$-113k(-14.6%)
MAIN DESTINATION (July 2024)Chinese Taipei$66k

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 (2023)$695k
IMPORTS (2023)$11.1M
NET TRADE (2023)-$10.4M

In 2023, Philippines exported $695k in Drilling Machines. The main destinations of Philippines exports on Drilling Machines were Singapore ($408k), Germany ($156k), United States ($67.7k), Denmark ($38.9k), and Tanzania ($9.2k).

In 2023, Philippines imported $11.1M in Drilling Machines, mainly from China ($2.91M), Japan ($2.27M), Chinese Taipei ($1.64M), United States ($1.5M), and Germany ($1.01M).

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Export Destinations (NaN)

Import Origins (NaN)

Market Growth

Flow
THE FASTEST GROWING Drilling Machines EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
Singapore$364k (818%)
United States$67.7k (1%)
Denmark$38.9k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Drilling Machines BY Philippines WERE (2022 - 2023):
Malaysia-$176k (-99.8%)
Indonesia-$101k (-100%)
Thailand-$58k (-92.1%)
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Change in Exports by Market (undefined - undefined)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Drilling Machines were:
Germany $565M
China $509M
Italy $361M
In 2023, Philippines's main importing competitors in Drilling Machines were:
United States $354M
China $289M
Germany $155M

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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.

See methodology.

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