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2022
Exports $5.87MWorld Rnk 25 / 167
Flag Rnk 395 / 1127
2022
Destination $2.16M United States
2021 - 2022
FASTEST GROWING MARKET $2.16MUnited States
2022
PRODUCT COMPLEXITY IN Electric Musical Instruments0.55Rnk 344 / 1025
2022
Imports $15MWorld Rnk 35 / 210
Flag Rnk 641 / 1201
2022
Origin $1.37M China
2021 - 2022
FASTEST GROWING ORIGIN $1.37MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $5.87M in Electric Musical Instruments, making it the 25th largest exporter of Electric Musical Instruments in the world. At the same year, Electric Musical Instruments was the 395th most exported product in Philippines. The main destination of Electric Musical Instruments exports from Philippines are: United States ($2.32M), France ($911k), Japan ($677k), United Kingdom ($508k), and Canada ($492k).

The fastest growing export markets for Electric Musical Instruments of Philippines between 2021 and 2022 were United States ($2.16M), France ($911k), and Japan ($677k).

Imports In 2022, Philippines imported $15M in Electric Musical Instruments, becoming the 35th largest importer of Electric Musical Instruments in the world. At the same year, Electric Musical Instruments was the 641st most imported product in Philippines. Philippines imports Electric Musical Instruments primarily from: China ($8M), Malaysia ($2.96M), Singapore ($1.31M), Netherlands ($818k), and Indonesia ($741k).

The fastest growing import markets in Electric Musical Instruments for Philippines between 2021 and 2022 were China ($1.37M), Malaysia ($528k), and United States ($367k).

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Electric Musical Instruments exports accounted up to $467k and imports accounted up to $165k, resulting in a positive trade balance of $301k. Between June 2023 and June 2024 the exports of Philippines'   Electric Musical Instruments have decreased by $-21.6k (-4.43%) from $488k to $467k, while imports decreased by $-422k (-71.9%) from $588k to $165k.

Destinations In June 2024, Electric Musical Instruments were exported mostly to United States ($443k), Colombia ($14.8k), and China ($8.86k), and were imported mostly from Japan ($58k), United States ($54.2k), Mexico ($34.6k), Singapore ($14.5k), and Thailand ($1.96k).

Growth In June 2024, the decrease in Electric Musical Instruments's year-by-year exports was explained primarily by a decrease in exports to . In June 2024, the decrease in Electric Musical Instruments's year-by-year imports was explained primarily by a decrease in imports from .

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-21.6k(-4.43%)
IMPORT GROWTH (June 2023 - June 2024)$-422k(-71.9%)
MAIN DESTINATION (June 2024)United States$443k

This section shows Electric Musical Instruments'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 Electric Musical Instruments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$5.87M
IMPORTS (2022)$15M
NET TRADE (2022)-$9.14M

In 2022, Philippines exported $5.87M in Electric Musical Instruments. The main destinations of Philippines exports on Electric Musical Instruments were United States ($2.32M), France ($911k), Japan ($677k), United Kingdom ($508k), and Canada ($492k).

In 2022, Philippines imported $15M in Electric Musical Instruments, mainly from China ($8M), Malaysia ($2.96M), Singapore ($1.31M), Netherlands ($818k), and Indonesia ($741k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electric Musical Instruments EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
United States$2.16M (1.36k%)
France$911k (1%)
Japan$677k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Musical Instruments BY Philippines WERE (2021 - 2022):
Chinese Taipei-$9.43k (-77.7%)
Denmark-$1.73k (-82.5%)
Norway-$774 (-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 Electric Musical Instruments were:
China $1.03B
Indonesia $664M
Germany $306M
In 2022, Philippines's main importing competitors in Electric Musical Instruments were:
United States $726M
Germany $398M
Japan $210M

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Trade Value of Electric Musical Instruments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $1.24M
TOP IMPORT POTENTIALChina+ $1.87M

Electric Musical Instruments’s highest export potential is United States. With an export gap of $1.24M.   Electric Musical Instruments’s highest import potential is China with an import gap of $1.87M.

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