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2022
Exports $155MWorld Rnk 41 / 216
Flag Rnk 81 / 1127
2022
Destination $6.04M Malaysia
2021 - 2022
FASTEST GROWING MARKET $6.04MCosta Rica
2022
PRODUCT COMPLEXITY IN Machinery Having Individual Functions1.9Rnk 10 / 1025
2022
Imports $1.01BWorld Rnk 34 / 225
Flag Rnk 27 / 1201
2022
Origin $81.7M Japan
2021 - 2022
FASTEST GROWING ORIGIN $81.7MJapan
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $155M in Machinery Having Individual Functions, making it the 41st largest exporter of Machinery Having Individual Functions in the world. At the same year, Machinery Having Individual Functions was the 81st most exported product in Philippines. The main destination of Machinery Having Individual Functions exports from Philippines are: Malaysia ($28.7M), Singapore ($23.3M), Japan ($22.4M), United States ($19M), and Costa Rica ($8.62M).

The fastest growing export markets for Machinery Having Individual Functions of Philippines between 2021 and 2022 were Costa Rica ($6.04M), South Korea ($4.26M), and Singapore ($3.02M).

Imports In 2022, Philippines imported $1.01B in Machinery Having Individual Functions, becoming the 34th largest importer of Machinery Having Individual Functions in the world. At the same year, Machinery Having Individual Functions was the 27th most imported product in Philippines. Philippines imports Machinery Having Individual Functions primarily from: Japan ($364M), China ($128M), Malaysia ($115M), Singapore ($113M), and South Korea ($89.9M).

The fastest growing import markets in Machinery Having Individual Functions for Philippines between 2021 and 2022 were Japan ($81.7M), China ($29.6M), and Singapore ($16.2M).

COMPANIES In 2023, leading companies such as Panasonic (9) were at the forefront of shipping Machinery Having Individual Functions from Philippines to the United States.

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Machinery Having Individual Functions exports accounted up to $3.46M and imports accounted up to $41.9M, resulting in a negative trade balance of $38.4M. Between July 2023 and July 2024 the exports of Philippines'   Machinery Having Individual Functions have decreased by $-1.03M (-23%) from $4.5M to $3.46M, while imports increased by $1.63M (4.05%) from $40.2M to $41.9M.

Destinations In July 2024, Machinery Having Individual Functions were exported mostly to Thailand ($1.56M), Japan ($685k), Malaysia ($244k), Mexico ($193k), and Italy ($148k), and were imported mostly from China ($13.3M), Japan ($11.9M), South Korea ($4.56M), United States ($3.71M), and Singapore ($2.28M).

Growth In July 2024, the decrease in Machinery Having Individual Functions's year-by-year exports was explained primarily by a decrease in exports to Costa Rica ($-353k or -45.4%), Vietnam ($-239k or -98.3%), and Mexico ($-146k or -72.3%). In July 2024, the increase in Machinery Having Individual Functions's year-by-year imports was explained primarily by an increase in imports from Japan ($1.95M or 12%), Germany ($1.56M or 259%), and China ($1.24M or 19.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-1.03M(-23%)
IMPORT GROWTH (July 2023 - July 2024)$1.63M(4.05%)
MAIN DESTINATION (July 2024)Thailand$1.56M

This section shows Machinery Having Individual Functions'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 Machinery Having Individual Functions over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$155M
IMPORTS (2022)$1.01B
NET TRADE (2022)-$855M

In 2022, Philippines exported $155M in Machinery Having Individual Functions. The main destinations of Philippines exports on Machinery Having Individual Functions were Malaysia ($28.7M), Singapore ($23.3M), Japan ($22.4M), United States ($19M), and Costa Rica ($8.62M).

In 2022, Philippines imported $1.01B in Machinery Having Individual Functions, mainly from Japan ($364M), China ($128M), Malaysia ($115M), Singapore ($113M), and South Korea ($89.9M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Machinery Having Individual Functions EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Costa Rica$6.04M (234%)
South Korea$4.26M (101%)
Singapore$3.02M (14.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Machinery Having Individual Functions BY Philippines WERE (2021 - 2022):
Chinese Taipei-$25.7M (-76.7%)
Vietnam-$4.72M (-48.7%)
Malaysia-$4.61M (-13.9%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Machinery Having Individual Functions were:
Japan $38.5B
United States $33.1B
Germany $20.9B
In 2022, Philippines's main importing competitors in Machinery Having Individual Functions were:
China $40.8B
United States $26B
South Korea $22.1B

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Trade Value of Machinery Having Individual Functions by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $5.62M
TOP IMPORT POTENTIALChina+ $53.3M

Machinery Having Individual Functions’s highest export potential is Japan. With an export gap of $5.62M.   Machinery Having Individual Functions’s highest import potential is China with an import gap of $53.3M.

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