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2023
Exports $368MWorld Rnk 59 / 226
Flag Rnk 26 / 96
2023
Destination $15.2M United States
2022 - 2023
FASTEST GROWING MARKET $15.2MUnited States
2023
PRODUCT COMPLEXITY IN Iron or steel articles1.67Rnk 25 / 1025
2023
Imports $2.73BWorld Rnk 36 / 226
Flag Rnk 10 / 96
2023
Origin $17.7M China
2022 - 2023
FASTEST GROWING ORIGIN $17.7MUnited States
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $368M in Iron or steel articles, making it the 59th largest exporter of Iron or steel articles in the world. At the same year, Iron or steel articles was the 26th most exported product in Philippines. The main destination of Iron or steel articles exports from Philippines are: United States ($117M), Japan ($59.9M), Thailand ($52.5M), Canada ($31.5M), and China ($11.9M).

The fastest growing export markets for Iron or steel articles of Philippines between 2022 and 2023 were United States ($15.2M), Canada ($13.1M), and Israel ($6.18M).

Imports In 2023, Philippines imported $2.73B in Iron or steel articles, becoming the 36th largest importer of Iron or steel articles in the world. At the same year, Iron or steel articles was the 10th most imported product in Philippines. Philippines imports Iron or steel articles primarily from: China ($1.97B), Japan ($203M), Thailand ($77.5M), United States ($58.8M), and South Korea ($52.9M).

The fastest growing import markets in Iron or steel articles for Philippines between 2022 and 2023 were United States ($17.7M), Malaysia ($12.5M), and Germany ($9.48M).

COMPANIES In 2023, leading companies such as Electrolux (1) were at the forefront of shipping Iron or steel articles from Philippines to the United States.

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Iron or steel articles exports accounted up to $34.8M and imports accounted up to $257M, resulting in a negative trade balance of $222M. Between July 2023 and July 2024 the exports of Philippines'   Iron or steel articles have increased by $10.3M (42.1%) from $24.5M to $34.8M, while imports increased by $14M (5.77%) from $243M to $257M.

Destinations In July 2024, Iron or steel articles were exported mostly to Japan ($12M), United States ($6.2M), Canada ($4.41M), Australia ($2.01M), and Thailand ($1.97M), and were imported mostly from China ($171M), Japan ($29.2M), South Korea ($6.31M), United States ($6.24M), and Thailand ($5.31M).

Growth In July 2024, the increase in Iron or steel articles's year-by-year exports was explained primarily by an increase in exports to United States ($8.16M or 337%), Malaysia ($1.5M or 823%), and Germany ($1.28M or 220%). In July 2024, the increase in Iron or steel articles's year-by-year imports was explained primarily by an increase in imports from China ($33.4M or 28.1%), Japan ($5.38M or 34.5%), and United States ($3.68M or 145%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$10.3M(42.1%)
IMPORT GROWTH (July 2023 - July 2024)$14M(5.77%)
MAIN DESTINATION (July 2024)Japan$12M

This section shows Iron or steel articles'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 Iron or steel articles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$368M
IMPORTS (2023)$2.73B
NET TRADE (2023)-$2.36B

In 2023, Philippines exported $368M in Iron or steel articles. The main destinations of Philippines exports on Iron or steel articles were United States ($117M), Japan ($59.9M), Thailand ($52.5M), Canada ($31.5M), and China ($11.9M).

In 2023, Philippines imported $2.73B in Iron or steel articles, mainly from China ($1.97B), Japan ($203M), Thailand ($77.5M), United States ($58.8M), and South Korea ($52.9M).

Explore Visualizations

Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron or steel articles EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
United States$15.2M (14.9%)
Canada$13.1M (70.8%)
Israel$6.18M (3.36k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron or steel articles BY Philippines WERE (2022 - 2023):
Japan-$51.7M (-46.3%)
Germany-$6.4M (-43.7%)
Thailand-$5.26M (-9.11%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Iron or steel articles were:
China $92.9B
Germany $34.3B
United States $21.8B
In 2023, Philippines's main importing competitors in Iron or steel articles were:
United States $52.5B
Germany $27.4B
France $14.2B

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Trade Value of Iron or steel articles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $41.4M
TOP IMPORT POTENTIALJapan+ $53M

Iron or steel articles’s highest export potential is United States. With an export gap of $41.4M.   Iron or steel articles’s highest import potential is Japan with an import gap of $53M.

See methodology.

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