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2022
Exports $7.07MWorld Rnk 48 / 175
Flag Rnk 377 / 1127
2022
Destination $783k United States
2021 - 2022
FASTEST GROWING MARKET $783kUnited States
2022
PRODUCT COMPLEXITY IN Soups and Broths-0.5Rnk 704 / 1025
2022
Imports $18.1MWorld Rnk 45 / 223
Flag Rnk 595 / 1201
2022
Origin $1.61M Japan
2021 - 2022
FASTEST GROWING ORIGIN $1.61MUnited States
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $7.07M in Soups and Broths, making it the 48th largest exporter of Soups and Broths in the world. At the same year, Soups and Broths was the 377th most exported product in Philippines. The main destination of Soups and Broths exports from Philippines are: United States ($2.21M), United Arab Emirates ($994k), Canada ($682k), Australia ($590k), and Vietnam ($561k).

The fastest growing export markets for Soups and Broths of Philippines between 2021 and 2022 were United States ($783k), Japan ($354k), and Canada ($315k).

Imports In 2022, Philippines imported $18.1M in Soups and Broths, becoming the 45th largest importer of Soups and Broths in the world. At the same year, Soups and Broths was the 595th most imported product in Philippines. Philippines imports Soups and Broths primarily from: Japan ($5.32M), United States ($4M), Thailand ($2.56M), Australia ($1.68M), and Canada ($1.08M).

The fastest growing import markets in Soups and Broths for Philippines between 2021 and 2022 were United States ($1.61M), Japan ($1.43M), and Australia ($736k).

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Soups and Broths exports accounted up to $79.2k and imports accounted up to $1.07M, resulting in a negative trade balance of $992k. Between June 2023 and June 2024 the exports of Philippines'   Soups and Broths have decreased by $-166k (-67.7%) from $245k to $79.2k, while imports decreased by $-85.4k (-7.38%) from $1.16M to $1.07M.

Destinations In June 2024, Soups and Broths were exported mostly to United States ($43.8k), Hong Kong ($17.2k), Japan ($9.36k), New Zealand ($4.05k), and Canada ($2.36k), and were imported mostly from Egypt ($463k), United States ($212k), Japan ($138k), South Korea ($87.3k), and Canada ($57.9k).

Growth In June 2024, the decrease in Soups and Broths's year-by-year exports was explained primarily by a decrease in exports to South Korea ($-742 or -19.5%). In June 2024, the decrease in Soups and Broths's year-by-year imports was explained primarily by a decrease in imports from Thailand ($-101k or -99.1%), China ($-29.6k or -30.1%), and Australia ($-17.3k or -12.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-166k(-67.7%)
IMPORT GROWTH (June 2023 - June 2024)$-85.4k(-7.38%)
MAIN DESTINATION (June 2024)United States$43.8k

This section shows Soups and Broths'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 Soups and Broths over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$7.07M
IMPORTS (2022)$18.1M
NET TRADE (2022)-$11.1M

In 2022, Philippines exported $7.07M in Soups and Broths. The main destinations of Philippines exports on Soups and Broths were United States ($2.21M), United Arab Emirates ($994k), Canada ($682k), Australia ($590k), and Vietnam ($561k).

In 2022, Philippines imported $18.1M in Soups and Broths, mainly from Japan ($5.32M), United States ($4M), Thailand ($2.56M), Australia ($1.68M), and Canada ($1.08M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Soups and Broths EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
United States$783k (55%)
Japan$354k (288%)
Canada$315k (86%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Soups and Broths BY Philippines WERE (2021 - 2022):
Saudi Arabia-$417k (-94.4%)
Netherlands-$382k (-96.7%)
Qatar-$152k (-41.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Soups and Broths were:
United States $701M
Germany $209M
Canada $195M
In 2022, Philippines's main importing competitors in Soups and Broths were:
United States $398M
Mexico $342M
Canada $302M

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Trade Value of Soups and Broths by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $1.04M
TOP IMPORT POTENTIALUnited States+ $768k

Soups and Broths’s highest export potential is United States. With an export gap of $1.04M.   Soups and Broths’s highest import potential is United States with an import gap of $768k.

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