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2022
Exports $3.11BWorld Rnk 44 / 226
Flag Rnk 6 / 21
2022
Destination $41.4M United States
2021 - 2022
FASTEST GROWING MARKET $41.4MThailand
2022
PRODUCT COMPLEXITY IN Foodstuffs0.45Rnk 385 / 1025
2022
Imports $7.99BWorld Rnk 21 / 226
Flag Rnk 6 / 21
2022
Origin $309M United States
2021 - 2022
FASTEST GROWING ORIGIN $309MUnited States
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $3.11B in Foodstuffs, making it the 44th largest exporter of Foodstuffs in the world. At the same year, Foodstuffs was the 6th most exported product in Philippines. The main destination of Foodstuffs exports from Philippines are: United States ($755M), South Korea ($225M), Thailand ($178M), China ($158M), and Japan ($153M).

The fastest growing export markets for Foodstuffs of Philippines between 2021 and 2022 were Thailand ($41.4M), Dominican Republic ($37.7M), and South Korea ($26.8M).

Imports In 2022, Philippines imported $7.99B in Foodstuffs, becoming the 21st largest importer of Foodstuffs in the world. At the same year, Foodstuffs was the 6th most imported product in Philippines. Philippines imports Foodstuffs primarily from: United States ($1.26B), China ($1.2B), Indonesia ($1.11B), Thailand ($681M), and Singapore ($536M).

The fastest growing import markets in Foodstuffs for Philippines between 2021 and 2022 were United States ($309M), Argentina ($302M), and Thailand ($211M).

COMPANIES In 2023, leading companies such as Del Monte Foods (729), Walong Marketing (47), and Dekalb Farmers Market (15) were at the forefront of shipping Foodstuffs from Philippines to the United States.

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Foodstuffs exports accounted up to $177M and imports accounted up to $477M, resulting in a negative trade balance of $300M. Between June 2023 and June 2024 the exports of Philippines'   Foodstuffs have decreased by $-40.3M (-18.5%) from $217M to $177M, while imports decreased by $-237M (-33.2%) from $714M to $477M.

Destinations In June 2024, Foodstuffs were exported mostly to United States ($37.2M), Japan ($13.3M), South Korea ($11.4M), United Kingdom ($8.99M), and China ($8.85M), and were imported mostly from United States ($128M), Singapore ($79M), Thailand ($55M), Argentina ($40.5M), and Spain ($21.1M).

Growth In June 2024, the decrease in Foodstuffs's year-by-year exports was explained primarily by a decrease in exports to United States ($-16.5M or -35.2%), Thailand ($-2.53M or -19.7%), and Dominican Republic ($-2.35M or -81.2%). In June 2024, the decrease in Foodstuffs's year-by-year imports was explained primarily by a decrease in imports from United States ($-67.3M or -29.5%), Argentina ($-43.3M or -56%), and Vietnam ($-14.8M or -42.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-40.3M(-18.5%)
IMPORT GROWTH (June 2023 - June 2024)$-237M(-33.2%)
MAIN DESTINATION (June 2024)United States$37.2M

This section shows Foodstuffs'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 Foodstuffs over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$3.11B
IMPORTS (2022)$7.99B
NET TRADE (2022)-$4.88B

In 2022, Philippines exported $3.11B in Foodstuffs. The main destinations of Philippines exports on Foodstuffs were United States ($755M), South Korea ($225M), Thailand ($178M), China ($158M), and Japan ($153M).

In 2022, Philippines imported $7.99B in Foodstuffs, mainly from United States ($1.26B), China ($1.2B), Indonesia ($1.11B), Thailand ($681M), and Singapore ($536M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Foodstuffs EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Thailand$41.4M (30.4%)
Dominican Republic$37.7M (176%)
South Korea$26.8M (13.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Foodstuffs BY Philippines WERE (2021 - 2022):
Netherlands-$20.7M (-18.1%)
United States-$20.3M (-2.62%)
Russia-$15.9M (-85.9%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Foodstuffs were:
United States $55.1B
Germany $50.4B
Netherlands $44.5B
In 2022, Philippines's main importing competitors in Foodstuffs were:
United States $97.3B
Germany $45.3B
United Kingdom $36.3B

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Trade Value of Foodstuffs by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $122M
TOP IMPORT POTENTIALChina+ $77M

Foodstuffs’s highest export potential is United States. With an export gap of $122M.   Foodstuffs’s highest import potential is China with an import gap of $77M.

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