Balances in Philippines | The Observatory of Economic Complexity

About

Exports In 2023, Philippines exported $19M in Balances, making it the 5th largest exporter of Balances in the world. At the same year, Balances was the 254th most exported product in Philippines. The main destination of Balances exports from Philippines are: Japan ($4.35M), Germany ($3.86M), China ($2.86M), India ($2.41M), and Brazil ($1.03M).

The fastest growing export markets for Balances of Philippines between 2022 and 2023 were Germany ($998k), India ($793k), and China ($579k).

Imports In 2023, Philippines imported $2.62M in Balances, becoming the 34th largest importer of Balances in the world. At the same year, Balances was the 880th most imported product in Philippines. Philippines imports Balances primarily from: China ($1.54M), Japan ($321k), Singapore ($145k), Switzerland ($97.7k), and Poland ($92.7k).

The fastest growing import markets in Balances for Philippines between 2022 and 2023 were China ($425k), Singapore ($100k), and France ($66.3k).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Balances exports accounted up to $1.37M and imports accounted up to $184k, resulting in a positive trade balance of $1.19M. Between July 2023 and July 2024 the exports of Philippines' Balances have decreased by $-718k (-34.4%) from $2.09M to $1.37M, while imports decreased by $-246k (-57.2%) from $430k to $184k.

Destinations In July 2024, Balances were exported mostly to Germany ($488k), Japan ($383k), India ($187k), China ($80.1k), and Turkey ($73.1k), and were imported mostly from China ($119k), Germany ($25.1k), Italy ($22.1k), Japan ($13.6k), and South Korea ($3.46k).

Growth In July 2024, the decrease in Balances's year-by-year exports was explained primarily by a decrease in exports to South Korea ($-181k or -83.4%), Brazil ($-108k or -53.6%), and Germany ($-99k or -57.7%). In July 2024, the decrease in Balances's year-by-year imports was explained primarily by a decrease in imports from China ($-123k or -71.8%), Germany ($-76.2k or -73.9%), and Hong Kong ($-47.1k or -96.9%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (July 2023 - July 2024)$-718k(-34.4%)

IMPORT GROWTH (July 2023 - July 2024)$-246k(-57.2%)

MAIN DESTINATION (July 2024)Germany$488k

This section shows Balances'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 Balances over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2023)$19M

IMPORTS (2023)$2.62M

NET TRADE (2023)$16.4M

In 2023, Philippines exported $19M in Balances. The main destinations of Philippines exports on Balances were Japan ($4.35M), Germany ($3.86M), China ($2.86M), India ($2.41M), and Brazil ($1.03M).

In 2023, Philippines imported $2.62M in Balances, mainly from China ($1.54M), Japan ($321k), Singapore ($145k), Switzerland ($97.7k), and Poland ($92.7k).

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