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2023
Exports $225MWorld Rnk 29 / 207
Flag Rnk 57 / 1123
2023
Destination $17.6M Germany
2022 - 2023
FASTEST GROWING MARKET $17.6MMalaysia
2023
PRODUCT COMPLEXITY IN Thermostats1.17Rnk 113 / 1025
2023
Imports $69.4MWorld Rnk 48 / 223
Flag Rnk 277 / 1202
2023
Origin $13.2M Japan
2022 - 2023
FASTEST GROWING ORIGIN $13.2MJapan
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $225M in Thermostats, making it the 29th largest exporter of Thermostats in the world. At the same year, Thermostats was the 57th most exported product in Philippines. The main destination of Thermostats exports from Philippines are: Germany ($58.2M), Thailand ($44.8M), Malaysia ($25.8M), Japan ($25M), and China ($21.2M).

The fastest growing export markets for Thermostats of Philippines between 2022 and 2023 were Malaysia ($17.6M), Thailand ($15.3M), and United States ($6.94M).

Imports In 2023, Philippines imported $69.4M in Thermostats, becoming the 48th largest importer of Thermostats in the world. At the same year, Thermostats was the 277th most imported product in Philippines. Philippines imports Thermostats primarily from: Japan ($24.8M), China ($7.02M), Malaysia ($5.06M), Hong Kong ($4.78M), and United States ($4.64M).

The fastest growing import markets in Thermostats for Philippines between 2022 and 2023 were Japan ($13.2M), Hong Kong ($3.48M), and South Korea ($2.21M).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Thermostats exports accounted up to $8.04M and imports accounted up to $4.19M, resulting in a positive trade balance of $3.84M. Between July 2023 and July 2024 the exports of Philippines'   Thermostats have increased by $3.16M (64.9%) from $4.87M to $8.04M, while imports increased by $920k (28.1%) from $3.27M to $4.19M.

Destinations In July 2024, Thermostats were exported mostly to Japan ($2.45M), Thailand ($2.35M), United States ($933k), Indonesia ($514k), and China ($501k), and were imported mostly from South Korea ($1.34M), China ($595k), United States ($412k), Singapore ($327k), and Japan ($233k).

Growth In July 2024, the increase in Thermostats's year-by-year exports was explained primarily by an increase in exports to Thailand ($1.41M or 875%), Japan ($860k or 83.8%), and United States ($526k or 97.8%). In July 2024, the increase in Thermostats's year-by-year imports was explained primarily by an increase in imports from Italy ($67.8k or 147%), China ($64.9k or 7.7%), and Canada ($61.3k or 132%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$3.16M(64.9%)
IMPORT GROWTH (July 2023 - July 2024)$920k(28.1%)
MAIN DESTINATION (July 2024)Japan$2.45M

This section shows Thermostats'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 Thermostats over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$225M
IMPORTS (2023)$69.4M
NET TRADE (2023)$155M

In 2023, Philippines exported $225M in Thermostats. The main destinations of Philippines exports on Thermostats were Germany ($58.2M), Thailand ($44.8M), Malaysia ($25.8M), Japan ($25M), and China ($21.2M).

In 2023, Philippines imported $69.4M in Thermostats, mainly from Japan ($24.8M), China ($7.02M), Malaysia ($5.06M), Hong Kong ($4.78M), and United States ($4.64M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Thermostats EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
Malaysia$17.6M (215%)
Thailand$15.3M (52%)
United States$6.94M (382%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Thermostats BY Philippines WERE (2022 - 2023):
Japan-$26.1M (-51.1%)
South Korea-$7.94M (-98.2%)
China-$2.87M (-11.9%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Thermostats were:
China $5.12B
Germany $4.8B
United States $4.21B
In 2023, Philippines's main importing competitors in Thermostats were:
United States $4.89B
China $3.54B
Germany $3.04B

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Trade Value of Thermostats by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $27.5M
TOP IMPORT POTENTIALChina+ $13M

Thermostats’s highest export potential is China. With an export gap of $27.5M.   Thermostats’s highest import potential is China with an import gap of $13M.

See methodology.

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