Motor vehicles; parts and accessories (8701 to 8705) in Philippines

About

Exports In 2023, Philippines exported $636M in Motor vehicles; parts and accessories (8701 to 8705), making it the 38th largest exporter of Motor vehicles; parts and accessories (8701 to 8705) in the world. At the same year, Motor vehicles; parts and accessories (8701 to 8705) was the 24th most exported product in Philippines. The main destination of Motor vehicles; parts and accessories (8701 to 8705) exports from Philippines are: Thailand ($219M), Japan ($131M), Argentina ($64.4M), Indonesia ($48.4M), and United States ($41.8M).

The fastest growing export markets for Motor vehicles; parts and accessories (8701 to 8705) of Philippines between 2022 and 2023 were India ($20.1M), Argentina ($6.2M), and South Korea ($4.95M).

Imports In 2023, Philippines imported $512M in Motor vehicles; parts and accessories (8701 to 8705), becoming the 55th largest importer of Motor vehicles; parts and accessories (8701 to 8705) in the world. At the same year, Motor vehicles; parts and accessories (8701 to 8705) was the 49th most imported product in Philippines. Philippines imports Motor vehicles; parts and accessories (8701 to 8705) primarily from: Japan ($167M), Thailand ($115M), China ($109M), Indonesia ($46.5M), and United States ($9.4M).

The fastest growing import markets in Motor vehicles; parts and accessories (8701 to 8705) for Philippines between 2022 and 2023 were China ($9.38M), Vietnam ($1.25M), and Australia ($683k).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Motor vehicles; parts and accessories (8701 to 8705) exports accounted up to $59M and imports accounted up to $31.2M, resulting in a positive trade balance of $27.8M. Between July 2023 and July 2024 the exports of Philippines' Motor vehicles; parts and accessories (8701 to 8705) have decreased by $-1.47M (-2.44%) from $60.5M to $59M, while imports decreased by $-529k (-1.67%) from $31.8M to $31.2M.

Destinations In July 2024, Motor vehicles; parts and accessories (8701 to 8705) were exported mostly to Thailand ($15.4M), Japan ($10.9M), United States ($5.57M), South Africa ($5.32M), and Argentina ($4.46M), and were imported mostly from Japan ($9.21M), Thailand ($7.17M), China ($6.83M), Indonesia ($3.37M), and Germany ($829k).

Growth In July 2024, the decrease in Motor vehicles; parts and accessories (8701 to 8705)'s year-by-year exports was explained primarily by a decrease in exports to Thailand ($-18.8M or -47.3%), Indonesia ($-2.27M or -38.7%), and Singapore ($-1.93M or -77.6%). In July 2024, the decrease in Motor vehicles; parts and accessories (8701 to 8705)'s year-by-year imports was explained primarily by a decrease in imports from Japan ($-5.16M or -31.1%), Vietnam ($-524k or -80.9%), and Serbia ($-247k or -98.9%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (July 2023 - July 2024)$-1.47M(-2.44%)

IMPORT GROWTH (July 2023 - July 2024)$-529k(-1.67%)

MAIN DESTINATION (July 2024)Thailand$15.4M

This section shows Motor vehicles; parts and accessories (8701 to 8705)'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 Motor vehicles; parts and accessories (8701 to 8705) over time.

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