Refined Petroleum in Philippines 2020 Exports | Imports : $166M | $5.61B, World Rnk 86 / 212 Rnk 64 / 1100 | World Rnk 22 / 224 Rnk 2 / 1200
2019 - 2020 FASTEST GROWING MARKET | FASTEST GROWING ORIGIN: $28.2M | $52.1M, Malaysia | Qatar
2020 ECONOMIC COMPLEXITY of Philippines: 0.58, Rnk 39 / 127
2020 PRODUCT COMPLEXITY IN Refined Petroleum: -0.94, Rnk 822 / 1029
Exports In 2020, Philippines exported $166M in Refined Petroleum, making it the 86th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 64th most exported product in Philippines. The main destination of Refined Petroleum exports from Philippines are: Malaysia ($81.7M), Singapore ($46.7M), Japan ($14.7M), Thailand ($10.2M), and Hong Kong ($6.69M).
The fastest growing export markets for Refined Petroleum of Philippines between 2019 and 2020 were Malaysia ($28.2M), Japan ($14.3M), and Thailand ($10.2M).
Imports In 2020, Philippines imported $5.61B in Refined Petroleum, becoming the 22nd largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Philippines. Philippines imports Refined Petroleum primarily from: China ($2.4B), South Korea ($824M), Singapore ($797M), Chinese Taipei ($672M), and Malaysia ($402M).
The fastest growing import markets in Refined Petroleum for Philippines between 2019 and 2020 were Qatar ($52.1M), Indonesia ($30M), and Brunei ($25M).
Tariffs In 2018, the average tariff for Philippines in Refined Petroleum was 0.14%. The countries with the highest import tariffs for Refined Petroleum were India (ASEAN India Free Trade Area, 1%), Angola (Most Favoured Nation duty rate treatement, 0.15%), Burundi (Most Favoured Nation duty rate treatement, 0.15%), Benin (Most Favoured Nation duty rate treatement, 0.15%), and Burkina Faso (Most Favoured Nation duty rate treatement, 0.15%).
August 2021
Overview In August 2021 Philippines' Refined Petroleum exports accounted up to N/A346k and imports accounted up to N/A852M, resulting in a negative trade balance of N/A851M. Between August 2020 and August 2021 the exports of Philippines' Refined Petroleum have increased by N/A74.6k (27.5%) from N/A272k to N/A346k, while imports increased by N/A399M (88.2%) from N/A452M to N/A852M.
Destinations In August 2021, Refined Petroleum were exported mostly to Malaysia ($305k), Singapore ($29.3k), Chinese Taipei ($11.1k), and Japan ($479), and were imported mostly from China ($163M), Malaysia ($124M), Singapore ($112M), South Korea ($104M), and United Arab Emirates ($91.3M).
Growth In August 2021, the increase in Refined Petroleum's year-by-year exports was explained primarily by an increase in exports to Malaysia ($17.9M or 226k%). In August 2021, the increase in Refined Petroleum's year-by-year imports was explained primarily by an increase in imports from China ($127M or 134%), Singapore ($38M or 174%), and South Korea ($34.2M or 32.2%).
EXPORT GROWTH (August 2020 - August 2021): N/A74.6k, (27.5%)
IMPORT GROWTH (August 2020 - August 2021): N/A399M, (88.2%)
MAIN DESTINATION (August 2021): Malaysia, $305k
This section shows Refined Petroleum'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 Refined Petroleum over time.
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EXPORTS (2020): $166M
IMPORTS (2020): $5.61B
NET TRADE (2020): -$5.45B
In 2020, Philippines exported $166M in Refined Petroleum. The main destinations of Philippines exports on Refined Petroleum were Malaysia ($81.7M), Singapore ($46.7M), Japan ($14.7M), Thailand ($10.2M), and Hong Kong ($6.69M).
In 2020, Philippines imported $5.61B in Refined Petroleum, mainly from China ($2.4B), South Korea ($824M), Singapore ($797M), Chinese Taipei ($672M), and Malaysia ($402M).
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Philippines WERE (2019 - 2020):
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Philippines WERE (2019 - 2020):
In 2020, Philippines's main exporting competitors in Refined Petroleum were:
In 2020, Philippines's main importing competitors in Refined Petroleum were:
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