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2023
Exports $3.6BWorld Rnk 12 / 223
Flag Rnk 4 / 1123
2023
Destination $211M Japan
2022 - 2023
FASTEST GROWING MARKET $211MJapan
2023
PRODUCT COMPLEXITY IN Insulated Wire-0.48Rnk 691 / 1025
2023
Imports $1.38BWorld Rnk 29 / 225
Flag Rnk 16 / 1202
2023
Origin $29.2M China
2022 - 2023
FASTEST GROWING ORIGIN $29.2MUnited States
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $3.6B in Insulated Wire, making it the 12th largest exporter of Insulated Wire in the world. At the same year, Insulated Wire was the 4th most exported product in Philippines. The main destination of Insulated Wire exports from Philippines are: Japan ($1.61B), United States ($1.03B), Canada ($227M), Mexico ($177M), and South Korea ($173M).

The fastest growing export markets for Insulated Wire of Philippines between 2022 and 2023 were Japan ($211M), United States ($61.7M), and Mexico ($25.9M).

Imports In 2023, Philippines imported $1.38B in Insulated Wire, becoming the 29th largest importer of Insulated Wire in the world. At the same year, Insulated Wire was the 16th most imported product in Philippines. Philippines imports Insulated Wire primarily from: China ($554M), Japan ($210M), South Korea ($146M), Vietnam ($79.8M), and Thailand ($76.1M).

The fastest growing import markets in Insulated Wire for Philippines between 2022 and 2023 were United States ($29.2M), South Korea ($25.5M), and Thailand ($14.7M).

COMPANIES In 2023, leading companies such as Konecranes (11), Walgreens (10), and Electrolux (6) were at the forefront of shipping Insulated Wire from Philippines to the United States.

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Insulated Wire exports accounted up to $265M and imports accounted up to $121M, resulting in a positive trade balance of $144M. Between July 2023 and July 2024 the exports of Philippines'   Insulated Wire have increased by $19.1M (7.75%) from $246M to $265M, while imports increased by $14.2M (13.3%) from $107M to $121M.

Destinations In July 2024, Insulated Wire were exported mostly to Japan ($115M), United States ($99.7M), South Korea ($14.8M), Canada ($10.5M), and China ($6.87M), and were imported mostly from China ($56.1M), South Korea ($18.8M), Japan ($12.6M), Hong Kong ($7.1M), and Malaysia ($5.57M).

Growth In July 2024, the increase in Insulated Wire's year-by-year exports was explained primarily by an increase in exports to United States ($16.2M or 32.8%), South Korea ($3.76M or 38.1%), and Japan ($3.38M or 2.89%). In July 2024, the increase in Insulated Wire's year-by-year imports was explained primarily by an increase in imports from Japan ($46.1M or 391%), South Korea ($9.91M or 148%), and United Arab Emirates ($2.1M or 121k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$19.1M(7.75%)
IMPORT GROWTH (July 2023 - July 2024)$14.2M(13.3%)
MAIN DESTINATION (July 2024)Japan$115M

This section shows Insulated Wire'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 Insulated Wire over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$3.6B
IMPORTS (2023)$1.38B
NET TRADE (2023)$2.22B

In 2023, Philippines exported $3.6B in Insulated Wire. The main destinations of Philippines exports on Insulated Wire were Japan ($1.61B), United States ($1.03B), Canada ($227M), Mexico ($177M), and South Korea ($173M).

In 2023, Philippines imported $1.38B in Insulated Wire, mainly from China ($554M), Japan ($210M), South Korea ($146M), Vietnam ($79.8M), and Thailand ($76.1M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Insulated Wire EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
Japan$211M (15.1%)
United States$61.7M (6.36%)
Mexico$25.9M (17.2%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Insulated Wire BY Philippines WERE (2022 - 2023):
South Korea-$68.7M (-28.4%)
Vietnam-$47.9M (-80.8%)
China-$8.3M (-5.68%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Insulated Wire were:
China $30.3B
Mexico $17.9B
United States $10.1B
In 2023, Philippines's main importing competitors in Insulated Wire were:
United States $29.8B
Germany $15.2B
Japan $8.89B

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Trade Value of Insulated Wire by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $199M
TOP IMPORT POTENTIALChina+ $114M

Insulated Wire’s highest export potential is United States. With an export gap of $199M.   Insulated Wire’s highest import potential is China with an import gap of $114M.

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