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2022
Exports $1.86BWorld Rnk 53 / 226
Flag Rnk 10 / 21
2022
Destination $138M United States
2021 - 2022
FASTEST GROWING MARKET $138MUnited States
2022
PRODUCT COMPLEXITY IN Plastics and Rubbers1.72Rnk 19 / 1025
2022
Imports $7.9BWorld Rnk 33 / 226
Flag Rnk 7 / 21
2022
Origin $840M China
2021 - 2022
FASTEST GROWING ORIGIN $840MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $1.86B in Plastics and Rubbers, making it the 53rd largest exporter of Plastics and Rubbers in the world. At the same year, Plastics and Rubbers was the 10th most exported product in Philippines. The main destination of Plastics and Rubbers exports from Philippines are: United States ($461M), Japan ($450M), China ($201M), Malaysia ($177M), and Indonesia ($70.6M).

The fastest growing export markets for Plastics and Rubbers of Philippines between 2021 and 2022 were United States ($138M), Indonesia ($32.3M), and South Korea ($25M).

Imports In 2022, Philippines imported $7.9B in Plastics and Rubbers, becoming the 33rd largest importer of Plastics and Rubbers in the world. At the same year, Plastics and Rubbers was the 7th most imported product in Philippines. Philippines imports Plastics and Rubbers primarily from: China ($3.85B), Thailand ($687M), Japan ($655M), Malaysia ($481M), and Singapore ($365M).

The fastest growing import markets in Plastics and Rubbers for Philippines between 2021 and 2022 were China ($840M), Netherlands ($23.6M), and United States ($22.7M).

COMPANIES In 2023, leading companies such as Yokohama Industries (4), Amazon (4), and Electrolux (3) were at the forefront of shipping Plastics and Rubbers from Philippines to the United States.

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Plastics and Rubbers exports accounted up to $134M and imports accounted up to $228M, resulting in a negative trade balance of $94.1M. Between June 2023 and June 2024 the exports of Philippines'   Plastics and Rubbers have decreased by $-17.4M (-11.5%) from $151M to $134M, while imports decreased by $-199M (-46.6%) from $427M to $228M.

Destinations In June 2024, Plastics and Rubbers were exported mostly to Japan ($48.8M), United States ($26.2M), China ($16.3M), Malaysia ($7.97M), and Chinese Taipei ($4.5M), and were imported mostly from Japan ($51.7M), Thailand ($49.5M), South Korea ($25.8M), Singapore ($23.6M), and Chinese Taipei ($13.3M).

Growth In June 2024, the decrease in Plastics and Rubbers's year-by-year exports was explained primarily by a decrease in exports to China ($-4.89M or -32.1%), Vietnam ($-4.12M or -46.5%), and Malaysia ($-2.39M or -15.7%). In June 2024, the decrease in Plastics and Rubbers's year-by-year imports was explained primarily by a decrease in imports from Thailand ($-7.58M or -14.2%), South Korea ($-5.73M or -16.7%), and Malaysia ($-4.59M or -13.1%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-17.4M(-11.5%)
IMPORT GROWTH (June 2023 - June 2024)$-199M(-46.6%)
MAIN DESTINATION (June 2024)Japan$48.8M

This section shows Plastics and Rubbers'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 Plastics and Rubbers over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.86B
IMPORTS (2022)$7.9B
NET TRADE (2022)-$6.04B

In 2022, Philippines exported $1.86B in Plastics and Rubbers. The main destinations of Philippines exports on Plastics and Rubbers were United States ($461M), Japan ($450M), China ($201M), Malaysia ($177M), and Indonesia ($70.6M).

In 2022, Philippines imported $7.9B in Plastics and Rubbers, mainly from China ($3.85B), Thailand ($687M), Japan ($655M), Malaysia ($481M), and Singapore ($365M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Plastics and Rubbers EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
United States$138M (42.5%)
Indonesia$32.3M (84.5%)
South Korea$25M (79.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Plastics and Rubbers BY Philippines WERE (2021 - 2022):
Japan-$93.1M (-17.1%)
China-$46.2M (-18.7%)
Thailand-$39.5M (-51.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Plastics and Rubbers were:
China $189B
United States $110B
Germany $104B
In 2022, Philippines's main importing competitors in Plastics and Rubbers were:
United States $132B
China $90.7B
Germany $75.6B

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Trade Value of Plastics and Rubbers by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $148M
TOP IMPORT POTENTIALChina+ $373M

Plastics and Rubbers’s highest export potential is United States. With an export gap of $148M.   Plastics and Rubbers’s highest import potential is China with an import gap of $373M.

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