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2023
Exports $2.69BWorld Rnk 13 / 223
Flag Rnk 6 / 1123
2023
Destination $23.1M United States
2022 - 2023
FASTEST GROWING MARKET $23.1MJapan
2023
PRODUCT COMPLEXITY IN Electrical Transformers0.68Rnk 293 / 1025
2023
Imports $841MWorld Rnk 39 / 225
Flag Rnk 27 / 1202
2023
Origin $13.6M China
2022 - 2023
FASTEST GROWING ORIGIN $13.6MThailand
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $2.69B in Electrical Transformers, making it the 13th largest exporter of Electrical Transformers in the world. At the same year, Electrical Transformers was the 6th most exported product in Philippines. The main destination of Electrical Transformers exports from Philippines are: United States ($562M), China ($433M), Hong Kong ($208M), Netherlands ($171M), and Japan ($169M).

The fastest growing export markets for Electrical Transformers of Philippines between 2022 and 2023 were Japan ($23.1M), India ($10.6M), and Czechia ($7.57M).

Imports In 2023, Philippines imported $841M in Electrical Transformers, becoming the 39th largest importer of Electrical Transformers in the world. At the same year, Electrical Transformers was the 27th most imported product in Philippines. Philippines imports Electrical Transformers primarily from: China ($445M), Japan ($71.9M), Hong Kong ($42.8M), United States ($35.2M), and Thailand ($32.1M).

The fastest growing import markets in Electrical Transformers for Philippines between 2022 and 2023 were Thailand ($13.6M), India ($11.3M), and Vietnam ($7.57M).

COMPANIES In 2023, leading companies such as Stihl (12), HP Inc (10), and Motorola (4) were at the forefront of shipping Electrical Transformers from Philippines to the United States.

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Electrical Transformers exports accounted up to $144M and imports accounted up to $78.8M, resulting in a positive trade balance of $65.1M. Between July 2023 and July 2024 the exports of Philippines'   Electrical Transformers have increased by $29.9M (26.2%) from $114M to $144M, while imports increased by $9.95M (14.4%) from $68.9M to $78.8M.

Destinations In July 2024, Electrical Transformers were exported mostly to United States ($77.9M), Hong Kong ($8.61M), China ($7.93M), Netherlands ($7.36M), and Japan ($6.74M), and were imported mostly from China ($50.8M), Japan ($6.29M), Vietnam ($3.42M), United States ($2.63M), and Singapore ($2.35M).

Growth In July 2024, the increase in Electrical Transformers's year-by-year exports was explained primarily by an increase in exports to Mexico ($4.07M or 548%), Japan ($3.33M or 39.9%), and India ($2.61M or 104%). In July 2024, the increase in Electrical Transformers's year-by-year imports was explained primarily by an increase in imports from China ($22.8M or 105%), South Korea ($6.62M or 221%), and United States ($2.23M or 106%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$29.9M(26.2%)
IMPORT GROWTH (July 2023 - July 2024)$9.95M(14.4%)
MAIN DESTINATION (July 2024)United States$77.9M

This section shows Electrical Transformers'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 Electrical Transformers over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$2.69B
IMPORTS (2023)$841M
NET TRADE (2023)$1.84B

In 2023, Philippines exported $2.69B in Electrical Transformers. The main destinations of Philippines exports on Electrical Transformers were United States ($562M), China ($433M), Hong Kong ($208M), Netherlands ($171M), and Japan ($169M).

In 2023, Philippines imported $841M in Electrical Transformers, mainly from China ($445M), Japan ($71.9M), Hong Kong ($42.8M), United States ($35.2M), and Thailand ($32.1M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Electrical Transformers EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
Japan$23.1M (15.8%)
India$10.6M (50.4%)
Czechia$7.57M (21.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electrical Transformers BY Philippines WERE (2022 - 2023):
United States-$156M (-21.7%)
South Korea-$114M (-66.3%)
China-$81.3M (-15.8%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Electrical Transformers were:
China $51.9B
Germany $12.8B
Mexico $6.34B
In 2023, Philippines's main importing competitors in Electrical Transformers were:
United States $27.3B
Germany $15.1B
China $7.17B

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Trade Value of Electrical Transformers by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $220M
TOP IMPORT POTENTIALChina+ $161M

Electrical Transformers’s highest export potential is United States. With an export gap of $220M.   Electrical Transformers’s highest import potential is China with an import gap of $161M.

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