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2022
Exports $12MWorld Rnk 53 / 213
Flag Rnk 311 / 1127
2022
Destination $3.36M Malaysia
2021 - 2022
FASTEST GROWING MARKET $3.36MMalaysia
2022
PRODUCT COMPLEXITY IN Interchangeable Tool Parts1.7Rnk 24 / 1025
2022
Imports $103MWorld Rnk 45 / 225
Flag Rnk 265 / 1201
2022
Origin $4.34M China
2021 - 2022
FASTEST GROWING ORIGIN $4.34MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $12M in Interchangeable Tool Parts, making it the 53rd largest exporter of Interchangeable Tool Parts in the world. At the same year, Interchangeable Tool Parts was the 311th most exported product in Philippines. The main destination of Interchangeable Tool Parts exports from Philippines are: Malaysia ($3.57M), Japan ($2.93M), Indonesia ($1.03M), United States ($958k), and Thailand ($730k).

The fastest growing export markets for Interchangeable Tool Parts of Philippines between 2021 and 2022 were Malaysia ($3.36M), Japan ($1.79M), and United States ($394k).

Imports In 2022, Philippines imported $103M in Interchangeable Tool Parts, becoming the 45th largest importer of Interchangeable Tool Parts in the world. At the same year, Interchangeable Tool Parts was the 265th most imported product in Philippines. Philippines imports Interchangeable Tool Parts primarily from: China ($33.8M), Japan ($28.6M), United States ($10.8M), Singapore ($7.07M), and Germany ($4.64M).

The fastest growing import markets in Interchangeable Tool Parts for Philippines between 2021 and 2022 were China ($4.34M), Germany ($518k), and Switzerland ($506k).

Latest Trends

August 2024

About

Overview In August 2024 Philippines' Interchangeable Tool Parts exports accounted up to $126k and imports accounted up to $7.97M, resulting in a negative trade balance of $7.85M. Between August 2023 and August 2024 the exports of Philippines'   Interchangeable Tool Parts have decreased by $-174k (-57.9%) from $300k to $126k, while imports increased by $599k (8.13%) from $7.37M to $7.97M.

Destinations In August 2024, Interchangeable Tool Parts were exported mostly to Japan ($43.8k), United States ($30.5k), Chinese Taipei ($18.8k), Thailand ($16.6k), and Sweden ($4.65k), and were imported mostly from Japan ($2.77M), China ($1.87M), United States ($1.12M), Germany ($431k), and Singapore ($377k).

Growth In August 2024, the decrease in Interchangeable Tool Parts's year-by-year exports was explained primarily by a decrease in exports to Japan ($-162k or -77.1%), Australia ($-129k or -57.7%), and United States ($-20k or -92.2%). In August 2024, the increase in Interchangeable Tool Parts's year-by-year imports was explained primarily by an increase in imports from United States ($801k or 125%), China ($309k or 19.6%), and Japan ($186k or 9.63%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-174k(-57.9%)
IMPORT GROWTH (August 2023 - August 2024)$599k(8.13%)
MAIN DESTINATION (August 2024)Japan$43.8k

This section shows Interchangeable Tool Parts'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 Interchangeable Tool Parts over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$12M
IMPORTS (2022)$103M
NET TRADE (2022)-$90.8M

In 2022, Philippines exported $12M in Interchangeable Tool Parts. The main destinations of Philippines exports on Interchangeable Tool Parts were Malaysia ($3.57M), Japan ($2.93M), Indonesia ($1.03M), United States ($958k), and Thailand ($730k).

In 2022, Philippines imported $103M in Interchangeable Tool Parts, mainly from China ($33.8M), Japan ($28.6M), United States ($10.8M), Singapore ($7.07M), and Germany ($4.64M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Interchangeable Tool Parts EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Malaysia$3.36M (1.61k%)
Japan$1.79M (157%)
United States$394k (69.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Interchangeable Tool Parts BY Philippines WERE (2021 - 2022):
Australia-$460k (-71.7%)
South Korea-$211k (-82.2%)
Hong Kong-$198k (-68.2%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Interchangeable Tool Parts were:
China $4.96B
Germany $3.88B
United States $2.11B
In 2022, Philippines's main importing competitors in Interchangeable Tool Parts were:
United States $3.32B
Germany $2.4B
Mexico $1.18B

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Trade Value of Interchangeable Tool Parts by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $1.55M
TOP IMPORT POTENTIALChina+ $14.2M

Interchangeable Tool Parts’s highest export potential is Japan. With an export gap of $1.55M.   Interchangeable Tool Parts’s highest import potential is China with an import gap of $14.2M.

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