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2022
Exports $1.96MWorld Rnk 79 / 194
Flag Rnk 531 / 1127
2022
Destination $279k Canada
2021 - 2022
FASTEST GROWING MARKET $279kCanada
2022
PRODUCT COMPLEXITY IN Spices-1.63Rnk 964 / 1025
2022
Imports $11.6MWorld Rnk 49 / 223
Flag Rnk 690 / 1201
2022
Origin $651k China
2021 - 2022
FASTEST GROWING ORIGIN $651kUnited States
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $1.96M in Spices, making it the 79th largest exporter of Spices in the world. At the same year, Spices was the 531st most exported product in Philippines. The main destination of Spices exports from Philippines are: Canada ($613k), United States ($316k), Singapore ($237k), United Arab Emirates ($222k), and Qatar ($188k).

The fastest growing export markets for Spices of Philippines between 2021 and 2022 were Canada ($279k), United Arab Emirates ($98.6k), and Turkey ($38.9k).

Imports In 2022, Philippines imported $11.6M in Spices, becoming the 49th largest importer of Spices in the world. At the same year, Spices was the 690th most imported product in Philippines. Philippines imports Spices primarily from: China ($4.68M), India ($1.67M), United States ($1.3M), Turkey ($1.12M), and Vietnam ($606k).

The fastest growing import markets in Spices for Philippines between 2021 and 2022 were United States ($651k), Singapore ($227k), and Australia ($175k).

COMPANIES In 2023, leading companies such as Walong Marketing (1) were at the forefront of shipping Spices from Philippines to the United States.

Latest Trends

December 2023

About

Overview In December 2023 Philippines' Spices exports accounted up to $4.94k and imports accounted up to $407k, resulting in a negative trade balance of $402k. Between December 2022 and December 2023 the exports of Philippines'   Spices have increased by $4.58k (1.3k%) from $353 to $4.94k, while imports increased by $245k (152%) from $162k to $407k.

Destinations In December 2023, Spices were exported mostly to , and were imported mostly from .

Growth In December 2023, the increase in Spices's year-by-year exports was explained primarily by an increase in exports to . In December 2023, the increase in Spices's year-by-year imports was explained primarily by an increase in imports from Japan ($2.38k or 274%) and Germany ($406 or 12.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (December 2022 - December 2023)$4.58k(1.3k%)
IMPORT GROWTH (December 2022 - December 2023)$245k(152%)
MAIN DESTINATION (December 2023)

This section shows Spices'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 Spices over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.96M
IMPORTS (2022)$11.6M
NET TRADE (2022)-$9.63M

In 2022, Philippines exported $1.96M in Spices. The main destinations of Philippines exports on Spices were Canada ($613k), United States ($316k), Singapore ($237k), United Arab Emirates ($222k), and Qatar ($188k).

In 2022, Philippines imported $11.6M in Spices, mainly from China ($4.68M), India ($1.67M), United States ($1.3M), Turkey ($1.12M), and Vietnam ($606k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Spices EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Canada$279k (83.5%)
United Arab Emirates$98.6k (79.7%)
Turkey$38.9k (1.35k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Spices BY Philippines WERE (2021 - 2022):
Saudi Arabia-$404k (-99.8%)
Singapore-$76.6k (-24.4%)
Ireland-$44.4k (-65.3%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Spices were:
India $538M
China $518M
Netherlands $203M
In 2022, Philippines's main importing competitors in Spices were:
United States $364M
Germany $211M
Netherlands $167M

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Trade Value of Spices by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $344k
TOP IMPORT POTENTIALIndia+ $1.36M

Spices’s highest export potential is United States. With an export gap of $344k.   Spices’s highest import potential is India with an import gap of $1.36M.

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