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2022
Exports $460kWorld Rnk 52 / 166
Flag Rnk 677 / 1127
2022
Destination $51.2k Germany
2021 - 2022
FASTEST GROWING MARKET $51.2kJapan
2022
PRODUCT COMPLEXITY IN Musical Instrument Parts1.19Rnk 106 / 1025
2022
Imports $5.07MWorld Rnk 41 / 204
Flag Rnk 828 / 1201
2022
Origin $551k China
2021 - 2022
FASTEST GROWING ORIGIN $551kChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $460k in Musical Instrument Parts, making it the 52nd largest exporter of Musical Instrument Parts in the world. At the same year, Musical Instrument Parts was the 677th most exported product in Philippines. The main destination of Musical Instrument Parts exports from Philippines are: Germany ($95.9k), United States ($85.5k), Japan ($64.4k), Indonesia ($40.6k), and Chinese Taipei ($40.1k).

The fastest growing export markets for Musical Instrument Parts of Philippines between 2021 and 2022 were Japan ($51.2k), Germany ($50.1k), and United States ($28.7k).

Imports In 2022, Philippines imported $5.07M in Musical Instrument Parts, becoming the 41st largest importer of Musical Instrument Parts in the world. At the same year, Musical Instrument Parts was the 828th most imported product in Philippines. Philippines imports Musical Instrument Parts primarily from: China ($3.84M), United States ($494k), Chinese Taipei ($252k), Singapore ($164k), and Thailand ($51.7k).

The fastest growing import markets in Musical Instrument Parts for Philippines between 2021 and 2022 were China ($551k), Thailand ($46.4k), and South Korea ($41.9k).

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Musical Instrument Parts exports accounted up to $12k and imports accounted up to $120k, resulting in a negative trade balance of $108k. Between June 2023 and June 2024 the exports of Philippines'   Musical Instrument Parts have decreased by $-3.1k (-20.6%) from $15.1k to $12k, while imports decreased by $-285k (-70.4%) from $405k to $120k.

Destinations In June 2024, Musical Instrument Parts were exported mostly to United States ($4.27k), Germany ($3.85k), Australia ($1.23k), France ($966), and Portugal ($702), and were imported mostly from Chinese Taipei ($92k), United States ($11.7k), United Kingdom ($5.02k), Canada ($4.57k), and Japan ($2.12k).

Growth In June 2024, the decrease in Musical Instrument Parts's year-by-year exports was explained primarily by a decrease in exports to United States ($-4.25k or -26.7%) and Australia ($-136 or -8.58%). In June 2024, the decrease in Musical Instrument Parts's year-by-year imports was explained primarily by a decrease in imports from United States ($-16.1k or -74.8%), United Kingdom ($-4.61k or -92.6%), and Japan ($-2.51k or -94.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-3.1k(-20.6%)
IMPORT GROWTH (June 2023 - June 2024)$-285k(-70.4%)
MAIN DESTINATION (June 2024)United States$4.27k

This section shows Musical Instrument 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 Musical Instrument Parts over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$460k
IMPORTS (2022)$5.07M
NET TRADE (2022)-$4.61M

In 2022, Philippines exported $460k in Musical Instrument Parts. The main destinations of Philippines exports on Musical Instrument Parts were Germany ($95.9k), United States ($85.5k), Japan ($64.4k), Indonesia ($40.6k), and Chinese Taipei ($40.1k).

In 2022, Philippines imported $5.07M in Musical Instrument Parts, mainly from China ($3.84M), United States ($494k), Chinese Taipei ($252k), Singapore ($164k), and Thailand ($51.7k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Musical Instrument Parts EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Japan$51.2k (387%)
Germany$50.1k (109%)
United States$28.7k (50.6%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Musical Instrument Parts BY Philippines WERE (2021 - 2022):
Indonesia-$110k (-73%)
China-$52.8k (-58.3%)
Hong Kong-$14.4k (-70.1%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Musical Instrument Parts were:
China $367M
United States $290M
Germany $217M
In 2022, Philippines's main importing competitors in Musical Instrument Parts were:
United States $309M
Germany $168M
China $160M

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Trade Value of Musical Instrument Parts by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $134k
TOP IMPORT POTENTIALChina+ $552k

Musical Instrument Parts’s highest export potential is China. With an export gap of $134k.   Musical Instrument Parts’s highest import potential is China with an import gap of $552k.

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