Gold in Philippines | The Observatory of Economic Complexity

About

Exports In 2023, Philippines exported $4.26B in Gold, making it the 26th largest exporter of Gold in the world. At the same year, Gold was the 3rd most exported product in Philippines. The main destination of Gold exports from Philippines are: Switzerland ($1.98B), United Kingdom ($842M), Hong Kong ($492M), India ($242M), and United Arab Emirates ($191M).

The fastest growing export markets for Gold of Philippines between 2022 and 2023 were Canada ($185M), United States ($132M), and India ($81.6M).

Imports In 2023, Philippines imported $82.9M in Gold, becoming the 62nd largest importer of Gold in the world. At the same year, Gold was the 244th most imported product in Philippines. Philippines imports Gold primarily from: Singapore ($46.5M), Japan ($20.4M), South Korea ($6.25M), China ($5.12M), and Italy ($2.2M).

The fastest growing import markets in Gold for Philippines between 2022 and 2023 were Australia ($469k), United States ($120k), and Belgium ($17.9k).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Gold exports accounted up to $133M and imports accounted up to $6.49M, resulting in a positive trade balance of $126M. Between July 2023 and July 2024 the exports of Philippines' Gold have increased by $9.7M (7.87%) from $123M to $133M, while imports increased by $1.34M (26%) from $5.15M to $6.49M.

Destinations In July 2024, Gold were exported mostly to Switzerland ($56.2M), Hong Kong ($51.9M), India ($19.4M), Australia ($5.29M), and Italy ($109k), and were imported mostly from Singapore ($4.98M), South Korea ($872k), Japan ($529k), Australia ($78.7k), and United States ($15.9k).

Growth In July 2024, the increase in Gold's year-by-year exports was explained primarily by an increase in exports to Switzerland ($11.5M or 29.8%) and Hong Kong ($9.19M or 35.2%). In July 2024, the increase in Gold's year-by-year imports was explained primarily by an increase in imports from Japan ($182k or 219%), China ($30.7k or 38.3%), and United States ($29.9k or 235%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (July 2023 - July 2024)$9.7M(7.87%)

IMPORT GROWTH (July 2023 - July 2024)$1.34M(26%)

MAIN DESTINATION (July 2024)Switzerland$56.2M

This section shows Gold'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 Gold over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2023)$4.26B

IMPORTS (2023)$82.9M

NET TRADE (2023)$4.17B

In 2023, Philippines exported $4.26B in Gold. The main destinations of Philippines exports on Gold were Switzerland ($1.98B), United Kingdom ($842M), Hong Kong ($492M), India ($242M), and United Arab Emirates ($191M).

In 2023, Philippines imported $82.9M in Gold, mainly from Singapore ($46.5M), Japan ($20.4M), South Korea ($6.25M), China ($5.12M), and Italy ($2.2M).

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