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2022
Exports $297kWorld Rnk 64 / 200
Flag Rnk 731 / 1127
2022
Destination $96.7k United States
2021 - 2022
FASTEST GROWING MARKET $96.7kUnited States
2022
PRODUCT COMPLEXITY IN Wrenches1.67Rnk 30 / 1025
2022
Imports $26MWorld Rnk 32 / 219
Flag Rnk 524 / 1201
2022
Origin $2.04M China
2021 - 2022
FASTEST GROWING ORIGIN $2.04MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $297k in Wrenches, making it the 64th largest exporter of Wrenches in the world. At the same year, Wrenches was the 731st most exported product in Philippines. The main destination of Wrenches exports from Philippines are: United States ($105k), Singapore ($59.9k), Japan ($46.2k), Chinese Taipei ($18k), and Thailand ($10.3k).

The fastest growing export markets for Wrenches of Philippines between 2021 and 2022 were United States ($96.7k), Singapore ($59.2k), and Chinese Taipei ($16.1k).

Imports In 2022, Philippines imported $26M in Wrenches, becoming the 32nd largest importer of Wrenches in the world. At the same year, Wrenches was the 524th most imported product in Philippines. Philippines imports Wrenches primarily from: China ($21.4M), Chinese Taipei ($1.61M), Japan ($594k), Hong Kong ($497k), and India ($323k).

The fastest growing import markets in Wrenches for Philippines between 2021 and 2022 were China ($2.04M), Malaysia ($120k), and Germany ($117k).

Latest Trends

August 2024

About

Overview In August 2024 Philippines' Wrenches exports accounted up to $6.9k and imports accounted up to $711k, resulting in a negative trade balance of $704k. Between August 2023 and August 2024 the exports of Philippines'   Wrenches have increased by $5.96k (633%) from $941 to $6.9k, while imports decreased by $-96.9k (-12%) from $808k to $711k.

Destinations In August 2024, Wrenches were exported mostly to Japan ($4.66k), United Arab Emirates ($2.03k), United States ($177), and Singapore ($30), and were imported mostly from China ($363k), Japan ($90.7k), United States ($79.3k), Chinese Taipei ($69.4k), and Germany ($43.7k).

Growth In August 2024, the increase in Wrenches's year-by-year exports was explained primarily by an increase in exports to . In August 2024, the decrease in Wrenches's year-by-year imports was explained primarily by a decrease in imports from Japan ($-80.1k or -69.8%), India ($-40.3k or -73.3%), and Belgium ($-18.4k or -98.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$5.96k(633%)
IMPORT GROWTH (August 2023 - August 2024)$-96.9k(-12%)
MAIN DESTINATION (August 2024)Japan$4.66k

This section shows Wrenches'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 Wrenches over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$297k
IMPORTS (2022)$26M
NET TRADE (2022)-$25.7M

In 2022, Philippines exported $297k in Wrenches. The main destinations of Philippines exports on Wrenches were United States ($105k), Singapore ($59.9k), Japan ($46.2k), Chinese Taipei ($18k), and Thailand ($10.3k).

In 2022, Philippines imported $26M in Wrenches, mainly from China ($21.4M), Chinese Taipei ($1.61M), Japan ($594k), Hong Kong ($497k), and India ($323k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Wrenches EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
United States$96.7k (1.11k%)
Singapore$59.2k (8.09k%)
Chinese Taipei$16.1k (831%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Wrenches BY Philippines WERE (2021 - 2022):
United Kingdom-$30.8k (-98.9%)
Japan-$23.7k (-34%)
Switzerland-$5.86k (-89.2%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Wrenches were:
China $1.41B
Chinese Taipei $1.02B
Germany $349M
In 2022, Philippines's main importing competitors in Wrenches were:
United States $923M
Germany $325M
France $152M

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Trade Value of Wrenches by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $130k
TOP IMPORT POTENTIALIndia+ $682k

Wrenches’s highest export potential is United States. With an export gap of $130k.   Wrenches’s highest import potential is India with an import gap of $682k.

See methodology.

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