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2022
Exports $4.45BWorld Rnk 77 / 220
Flag Rnk 4 / 21
2022
Destination $606M China
2021 - 2022
FASTEST GROWING MARKET $606MSouth Korea
2022
PRODUCT COMPLEXITY IN Mineral Products0.48Rnk 371 / 1025
2022
Imports $26.9BWorld Rnk 29 / 226
Flag Rnk 2 / 21
2022
Origin $2.84B Indonesia
2021 - 2022
FASTEST GROWING ORIGIN $2.84BSouth Korea
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $4.45B in Mineral Products, making it the 77th largest exporter of Mineral Products in the world. At the same year, Mineral Products was the 4th most exported product in Philippines. The main destination of Mineral Products exports from Philippines are: China ($2.42B), South Korea ($814M), Japan ($426M), Thailand ($262M), and Singapore ($240M).

The fastest growing export markets for Mineral Products of Philippines between 2021 and 2022 were South Korea ($606M), Singapore ($117M), and Brunei ($105M).

Imports In 2018, Philippines imported $26.9B in Mineral Products, becoming the 29th largest importer of Mineral Products in the world. At the same year, Mineral Products was the 2nd most imported product in Philippines. Philippines imports Mineral Products primarily from: Indonesia ($5.47B), South Korea ($4.63B), China ($2.83B), Saudi Arabia ($2.26B), and Singapore ($2.07B).

The fastest growing import markets in Mineral Products for Philippines between 2021 and 2022 were South Korea ($2.84B), Indonesia ($2.68B), and Japan ($891M).

COMPANIES In 2023, leading companies such as Yokohama Industries (60), Michael Kors (13), and JP Boden Services (2) were at the forefront of shipping Mineral Products from Philippines to the United States.

Latest Trends

October 2024

About

Overview In October 2024 Philippines' Mineral Products exports accounted up to $383M and imports accounted up to $2.16B, resulting in a negative trade balance of $1.78B. Between October 2023 and October 2024 the exports of Philippines'   Mineral Products have increased by $121M (46%) from $262M to $383M, while imports decreased by $-287M (-11.7%) from $2.45B to $2.16B.

Destinations In October 2024, Mineral Products were exported mostly to China ($225M), Japan ($91.7M), Indonesia ($39.2M), United Arab Emirates ($5.21M), and Singapore ($4.59M), and were imported mostly from South Korea ($406M), Indonesia ($370M), China ($242M), Saudi Arabia ($152M), and United Arab Emirates ($134M).

Growth In October 2024, the increase in Mineral Products's year-by-year exports was explained primarily by an increase in exports to Japan ($43.8M or 171%), Singapore ($38.8M or 6.02k%), and China ($6.3M or 7.11%). In October 2024, the decrease in Mineral Products's year-by-year imports was explained primarily by a decrease in imports from Chinese Taipei ($-69.2M or -85.4%), Brazil ($-38.2M or -50.4%), and Qatar ($-31.7M or -51.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$121M(46%)
IMPORT GROWTH (October 2023 - October 2024)$-287M(-11.7%)
MAIN DESTINATION (October 2024)China$225M

This section shows Mineral Products'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 Mineral Products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$4.45B
IMPORTS (2022)$26.9B
NET TRADE (2022)-$22.4B

In 2022, Philippines exported $4.45B in Mineral Products. The main destinations of Philippines exports on Mineral Products were China ($2.42B), South Korea ($814M), Japan ($426M), Thailand ($262M), and Singapore ($240M).

In 2022, Philippines imported $26.9B in Mineral Products, mainly from Indonesia ($5.47B), South Korea ($4.63B), China ($2.83B), Saudi Arabia ($2.26B), and Singapore ($2.07B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Mineral Products EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
South Korea$606M (292%)
Singapore$117M (95.5%)
Brunei$105M (451%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Mineral Products BY Philippines WERE (2021 - 2022):
China-$299M (-11%)
Japan-$86.1M (-16.8%)
Indonesia-$3.27M (-16.4%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Mineral Products were:
United States $427B
Russia $319B
Australia $295B
In 2022, Philippines's main importing competitors in Mineral Products were:
China $623B
United States $329B
India $291B

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Trade Value of Mineral Products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $67.3M
TOP IMPORT POTENTIALMalaysia+ $270M

Mineral Products’s highest export potential is Japan. With an export gap of $67.3M.   Mineral Products’s highest import potential is Malaysia with an import gap of $270M.

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