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2018
Exports $582MWorld Rnk 4 / 182
Flag Rnk 26 / 1127
2018
Destination $88.7M Japan
2021 - 2022
FASTEST GROWING MARKET $88.7MJapan
2022
PRODUCT COMPLEXITY IN Electromagnets1.02Rnk 163 / 1025
2018
Imports $610MWorld Rnk 7 / 216
Flag Rnk 54 / 1201
2018
Origin $68.3M Japan
2021 - 2022
FASTEST GROWING ORIGIN $68.3MVietnam
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2018, Philippines exported $582M in Electromagnets, making it the 4th largest exporter of Electromagnets in the world. At the same year, Electromagnets was the 26th most exported product in Philippines. The main destination of Electromagnets exports from Philippines are: Japan ($334M), South Korea ($64M), Germany ($54.5M), China ($42.3M), and Hong Kong ($22.8M).

The fastest growing export markets for Electromagnets of Philippines between 2021 and 2022 were Japan ($88.7M), South Korea ($23.7M), and Germany ($8.13M).

Imports In 2022, Philippines imported $610M in Electromagnets, becoming the 7th largest importer of Electromagnets in the world. At the same year, Electromagnets was the 54th most imported product in Philippines. Philippines imports Electromagnets primarily from: Japan ($309M), Vietnam ($202M), China ($57.3M), Singapore ($7.94M), and United Kingdom ($7.88M).

The fastest growing import markets in Electromagnets for Philippines between 2021 and 2022 were Vietnam ($68.3M), Japan ($36.9M), and Singapore ($3.43M).

Latest Trends

September 2024

About

Overview In September 2024 Philippines' Electromagnets exports accounted up to $13.1M and imports accounted up to $14.6M, resulting in a negative trade balance of $1.46M. Between September 2023 and September 2024 the exports of Philippines'   Electromagnets have decreased by $-5.6M (-29.9%) from $18.7M to $13.1M, while imports increased by $2.25M (18.2%) from $12.3M to $14.6M.

Destinations In September 2024, Electromagnets were exported mostly to Japan ($5.69M), South Korea ($2.5M), United States ($1.43M), Hong Kong ($1.28M), and China ($881k), and were imported mostly from Japan ($5.95M), China ($5.6M), Singapore ($1M), Indonesia ($488k), and Mexico ($251k).

Growth In September 2024, the decrease in Electromagnets's year-by-year exports was explained primarily by a decrease in exports to Japan ($-3.92M or -32.3%), Hong Kong ($-1.64M or -53.8%), and China ($-1.24M or -35%). In September 2024, the increase in Electromagnets's year-by-year imports was explained primarily by an increase in imports from China ($4.64M or 130%), Thailand ($323k or 102%), and Singapore ($287k or 231%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (September 2023 - September 2024)$-5.6M(-29.9%)
IMPORT GROWTH (September 2023 - September 2024)$2.25M(18.2%)
MAIN DESTINATION (September 2024)Japan$5.69M

This section shows Electromagnets'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 Electromagnets over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$582M
IMPORTS (2022)$610M
NET TRADE (2022)-$27.9M

In 2022, Philippines exported $582M in Electromagnets. The main destinations of Philippines exports on Electromagnets were Japan ($334M), South Korea ($64M), Germany ($54.5M), China ($42.3M), and Hong Kong ($22.8M).

In 2022, Philippines imported $610M in Electromagnets, mainly from Japan ($309M), Vietnam ($202M), China ($57.3M), Singapore ($7.94M), and United Kingdom ($7.88M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electromagnets EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Japan$88.7M (36.2%)
South Korea$23.7M (58.7%)
Germany$8.13M (17.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electromagnets BY Philippines WERE (2021 - 2022):
United States-$14.3M (-44.7%)
China-$7.8M (-15.6%)
Hong Kong-$6.64M (-22.5%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Electromagnets were:
China $6.28B
Germany $1.24B
Japan $1.18B
In 2022, Philippines's main importing competitors in Electromagnets were:
Germany $1.58B
United States $1.51B
Japan $1.04B

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Trade Value of Electromagnets by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $31.1M
TOP IMPORT POTENTIALChina+ $34.4M

Electromagnets’s highest export potential is China. With an export gap of $31.1M.   Electromagnets’s highest import potential is China with an import gap of $34.4M.

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