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2023
Exports $167MWorld Rnk 23 / 183
Flag Rnk 67 / 1123
2023
Destination $5.24M United States
2022 - 2023
FASTEST GROWING MARKET $5.24MChina
2023
PRODUCT COMPLEXITY IN Processed Crustaceans-1.65Rnk 967 / 1025
2023
Imports $29MWorld Rnk 38 / 220
Flag Rnk 442 / 1202
2023
Origin $510k China
2022 - 2023
FASTEST GROWING ORIGIN $510kUnited States
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $167M in Processed Crustaceans, making it the 23rd largest exporter of Processed Crustaceans in the world. At the same year, Processed Crustaceans was the 67th most exported product in Philippines. The main destination of Processed Crustaceans exports from Philippines are: United States ($79.5M), Hong Kong ($19.1M), China ($18.5M), South Korea ($16.9M), and Japan ($6.66M).

The fastest growing export markets for Processed Crustaceans of Philippines between 2022 and 2023 were China ($5.24M), Macau ($874k), and Singapore ($823k).

Imports In 2023, Philippines imported $29M in Processed Crustaceans, becoming the 38th largest importer of Processed Crustaceans in the world. At the same year, Processed Crustaceans was the 442nd most imported product in Philippines. Philippines imports Processed Crustaceans primarily from: China ($22.3M), United States ($1.18M), Chinese Taipei ($957k), New Zealand ($749k), and Chile ($700k).

The fastest growing import markets in Processed Crustaceans for Philippines between 2022 and 2023 were United States ($510k), Chinese Taipei ($169k), and Australia ($131k).

COMPANIES In 2023, leading companies such as Wismettac Asian Foods (1) were at the forefront of shipping Processed Crustaceans from Philippines to the United States.

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Processed Crustaceans exports accounted up to $5.99M and imports accounted up to $358k, resulting in a positive trade balance of $5.63M. Between July 2023 and July 2024 the exports of Philippines'   Processed Crustaceans have decreased by $-2.89M (-32.6%) from $8.88M to $5.99M, while imports decreased by $-873k (-70.9%) from $1.23M to $358k.

Destinations In July 2024, Processed Crustaceans were exported mostly to United States ($4.56M), South Korea ($333k), Thailand ($301k), Hong Kong ($179k), and Singapore ($91.2k), and were imported mostly from China ($180k), Thailand ($62.4k), Chinese Taipei ($62k), Vietnam ($43.1k), and United States ($3.36k).

Growth In July 2024, the decrease in Processed Crustaceans's year-by-year exports was explained primarily by a decrease in exports to United States ($-9.62M or -91.1%), South Korea ($-351k or -66.2%), and United Arab Emirates ($-51.8k or -90.2%). In July 2024, the decrease in Processed Crustaceans's year-by-year imports was explained primarily by a decrease in imports from China ($-1.05M or -77%), Indonesia ($-118k or -79.4%), and Thailand ($-74.5k or -98.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-2.89M(-32.6%)
IMPORT GROWTH (July 2023 - July 2024)$-873k(-70.9%)
MAIN DESTINATION (July 2024)United States$4.56M

This section shows Processed Crustaceans'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 Processed Crustaceans over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$167M
IMPORTS (2023)$29M
NET TRADE (2023)$138M

In 2023, Philippines exported $167M in Processed Crustaceans. The main destinations of Philippines exports on Processed Crustaceans were United States ($79.5M), Hong Kong ($19.1M), China ($18.5M), South Korea ($16.9M), and Japan ($6.66M).

In 2023, Philippines imported $29M in Processed Crustaceans, mainly from China ($22.3M), United States ($1.18M), Chinese Taipei ($957k), New Zealand ($749k), and Chile ($700k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Processed Crustaceans EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
China$5.24M (39.5%)
Macau$874k (382%)
Singapore$823k (24.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Processed Crustaceans BY Philippines WERE (2022 - 2023):
United States-$32.6M (-29.1%)
South Korea-$14.2M (-45.7%)
France-$1.64M (-98.6%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Processed Crustaceans were:
China $2.35B
Vietnam $1.54B
Indonesia $1.35B
In 2023, Philippines's main importing competitors in Processed Crustaceans were:
United States $3.51B
China $2.24B
Japan $1.81B

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Trade Value of Processed Crustaceans by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $6.46M
TOP IMPORT POTENTIALVietnam+ $2.17M

Processed Crustaceans’s highest export potential is Japan. With an export gap of $6.46M.   Processed Crustaceans’s highest import potential is Vietnam with an import gap of $2.17M.

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