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2022
Exports $131MWorld Rnk 25 / 202
Flag Rnk 90 / 1127
2022
Destination $9.43M United States
2021 - 2022
FASTEST GROWING MARKET $9.43MUnited States
2022
PRODUCT COMPLEXITY IN Sauces and Seasonings-0.62Rnk 736 / 1025
2022
Imports $235MWorld Rnk 21 / 225
Flag Rnk 141 / 1201
2022
Origin $10.9M China
2021 - 2022
FASTEST GROWING ORIGIN $10.9MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $131M in Sauces and Seasonings, making it the 25th largest exporter of Sauces and Seasonings in the world. At the same year, Sauces and Seasonings was the 90th most exported product in Philippines. The main destination of Sauces and Seasonings exports from Philippines are: United States ($37.3M), United Arab Emirates ($13.3M), Canada ($12.5M), Malaysia ($8.61M), and Australia ($6.99M).

The fastest growing export markets for Sauces and Seasonings of Philippines between 2021 and 2022 were United States ($9.43M), Canada ($3.13M), and Kuwait ($2.21M).

Imports In 2022, Philippines imported $235M in Sauces and Seasonings, becoming the 21st largest importer of Sauces and Seasonings in the world. At the same year, Sauces and Seasonings was the 141st most imported product in Philippines. Philippines imports Sauces and Seasonings primarily from: China ($70.5M), Thailand ($61.1M), United States ($18.9M), South Korea ($15.4M), and Malaysia ($12.8M).

The fastest growing import markets in Sauces and Seasonings for Philippines between 2021 and 2022 were China ($10.9M), Japan ($3.29M), and Malaysia ($3.05M).

COMPANIES In 2023, leading companies such as Walong Marketing (41) and Del Monte Foods (38) were at the forefront of shipping Sauces and Seasonings from Philippines to the United States.

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Sauces and Seasonings exports accounted up to $10.8M and imports accounted up to $9.84M, resulting in a positive trade balance of $1.01M. Between June 2023 and June 2024 the exports of Philippines'   Sauces and Seasonings have increased by $1.82M (20.1%) from $9.03M to $10.8M, while imports decreased by $-7.65M (-43.8%) from $17.5M to $9.84M.

Destinations In June 2024, Sauces and Seasonings were exported mostly to United States ($2.45M), United Arab Emirates ($1.59M), Hong Kong ($1.35M), Canada ($544k), and Saudi Arabia ($522k), and were imported mostly from Thailand ($4.39M), Vietnam ($872k), United Kingdom ($810k), United States ($740k), and Japan ($690k).

Growth In June 2024, the increase in Sauces and Seasonings's year-by-year exports was explained primarily by an increase in exports to Canada ($267k or 70%), Hong Kong ($187k or 76.8%), and Netherlands ($106k or 198%). In June 2024, the decrease in Sauces and Seasonings's year-by-year imports was explained primarily by a decrease in imports from Thailand ($-1.87M or -27.4%), Japan ($-307k or -38.3%), and United Kingdom ($-276k or -43.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$1.82M(20.1%)
IMPORT GROWTH (June 2023 - June 2024)$-7.65M(-43.8%)
MAIN DESTINATION (June 2024)United States$2.45M

This section shows Sauces and Seasonings'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 Sauces and Seasonings over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$131M
IMPORTS (2022)$235M
NET TRADE (2022)-$104M

In 2022, Philippines exported $131M in Sauces and Seasonings. The main destinations of Philippines exports on Sauces and Seasonings were United States ($37.3M), United Arab Emirates ($13.3M), Canada ($12.5M), Malaysia ($8.61M), and Australia ($6.99M).

In 2022, Philippines imported $235M in Sauces and Seasonings, mainly from China ($70.5M), Thailand ($61.1M), United States ($18.9M), South Korea ($15.4M), and Malaysia ($12.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Sauces and Seasonings EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
United States$9.43M (33.8%)
Canada$3.13M (33.3%)
Kuwait$2.21M (84.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Sauces and Seasonings BY Philippines WERE (2021 - 2022):
Netherlands-$2.18M (-57.8%)
Singapore-$1.36M (-21.5%)
Hong Kong-$1.17M (-19.8%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Sauces and Seasonings were:
United States $2.15B
China $2.05B
Italy $1.54B
In 2022, Philippines's main importing competitors in Sauces and Seasonings were:
United States $2.23B
United Kingdom $1.01B
France $968M

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Trade Value of Sauces and Seasonings by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $9.59M
TOP IMPORT POTENTIALChina+ $6.16M

Sauces and Seasonings’s highest export potential is United States. With an export gap of $9.59M.   Sauces and Seasonings’s highest import potential is China with an import gap of $6.16M.

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