Animal or vegetable fats, oils, & waxes in Philippines | The Observatory of Economic Complexity

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Exports In 2022, Philippines exported $2.35B in Animal or vegetable fats, oils, & waxes, making it the 18th largest exporter of Animal or vegetable fats, oils, & waxes in the world. At the same year, Animal or vegetable fats, oils, & waxes was the 6th most exported product in Philippines. The main destination of Animal or vegetable fats, oils, & waxes exports from Philippines are: Netherlands ($606M), United States ($455M), China ($224M), Malaysia ($214M), and Germany ($195M).

The fastest growing export markets for Animal or vegetable fats, oils, & waxes of Philippines between 2021 and 2022 were Netherlands ($137M), China ($102M), and Malaysia ($83.4M).

Imports In 2022, Philippines imported $2.04B in Animal or vegetable fats, oils, & waxes, becoming the 20th largest importer of Animal or vegetable fats, oils, & waxes in the world. At the same year, Animal or vegetable fats, oils, & waxes was the 15th most imported product in Philippines. Philippines imports Animal or vegetable fats, oils, & waxes primarily from: Malaysia ($1.04B), Indonesia ($798M), Thailand ($47.3M), Spain ($22M), and Singapore ($21.6M).

The fastest growing import markets in Animal or vegetable fats, oils, & waxes for Philippines between 2021 and 2022 were Malaysia ($291M), Australia ($10.6M), and Singapore ($7.71M).

COMPANIES In 2023, leading companies such as Walmart (3) were at the forefront of shipping Animal or vegetable fats, oils, & waxes from Philippines to the United States.

Latest Trends

June 2024

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Overview In June 2024 Philippines' Animal or vegetable fats, oils, & waxes exports accounted up to $178M and imports accounted up to $11.8M, resulting in a positive trade balance of $166M. Between June 2023 and June 2024 the exports of Philippines' Animal or vegetable fats, oils, & waxes have increased by $94.4M (113%) from $83.4M to $178M, while imports decreased by $-99.2M (-89.3%) from $111M to $11.8M.

Destinations In June 2024, Animal or vegetable fats, oils, & waxes were exported mostly to United States ($66M), Netherlands ($52.5M), India ($13.2M), Malaysia ($8.01M), and Indonesia ($7.27M), and were imported mostly from Spain ($2.52M), Thailand ($1.84M), Australia ($1.65M), Singapore ($1.29M), and United Kingdom ($977k).

Growth In June 2024, the increase in Animal or vegetable fats, oils, & waxes's year-by-year exports was explained primarily by an increase in exports to South Korea ($4.3M or 267%), Spain ($1.96M or 47.7%), and Canada ($596k or 289%). In June 2024, the decrease in Animal or vegetable fats, oils, & waxes's year-by-year imports was explained primarily by a decrease in imports from Indonesia ($-27.8M or -46.1%), Malaysia ($-12.3M or -19.2%), and Thailand ($-2.84M or -57.6%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (June 2023 - June 2024)$94.4M(113%)

IMPORT GROWTH (June 2023 - June 2024)$-99.2M(-89.3%)

MAIN DESTINATION (June 2024)United States$66M

This section shows Animal or vegetable fats, oils, & waxes'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 Animal or vegetable fats, oils, & waxes over time.

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