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2022
Exports $241MWorld Rnk 35 / 192
Flag Rnk 50 / 1127
2022
Destination $112M Hong Kong
2021 - 2022
FASTEST GROWING MARKET $112MHong Kong
2022
PRODUCT COMPLEXITY IN Gas Turbines0.71Rnk 270 / 1025
2022
Imports $363MWorld Rnk 46 / 207
Flag Rnk 96 / 1201
2022
Origin $91.8M Singapore
2021 - 2022
FASTEST GROWING ORIGIN $91.8MSingapore
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $241M in Gas Turbines, making it the 35th largest exporter of Gas Turbines in the world. At the same year, Gas Turbines was the 50th most exported product in Philippines. The main destination of Gas Turbines exports from Philippines are: Hong Kong ($151M), India ($74.8M), United States ($7.82M), Singapore ($3.05M), and Germany ($1.33M).

The fastest growing export markets for Gas Turbines of Philippines between 2021 and 2022 were Hong Kong ($112M), India ($74.8M), and United States ($6.31M).

Imports In 2022, Philippines imported $363M in Gas Turbines, becoming the 46th largest importer of Gas Turbines in the world. At the same year, Gas Turbines was the 96th most imported product in Philippines. Philippines imports Gas Turbines primarily from: Singapore ($129M), United Kingdom ($43.5M), Poland ($40M), United States ($28.7M), and Hong Kong ($23.8M).

The fastest growing import markets in Gas Turbines for Philippines between 2021 and 2022 were Singapore ($91.8M), Poland ($40M), and France ($22.2M).

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Gas Turbines exports accounted up to $242k and imports accounted up to $61.8M, resulting in a negative trade balance of $61.6M. Between February 2023 and June 2024 the exports of Philippines'   Gas Turbines have increased by $100k (70.8%) from $142k to $242k, while imports decreased by $-5.16M (-7.7%) from $67M to $61.8M.

Destinations In June 2024, Gas Turbines were exported mostly to Malaysia ($208k) and China ($34k), and were imported mostly from Singapore ($25.3M), United States ($16.8M), Germany ($16.8M), Italy ($1.93M), and United Kingdom ($732k).

Growth In June 2024, the increase in Gas Turbines's year-by-year exports was explained primarily by an increase in exports to . In June 2024, the decrease in Gas Turbines's year-by-year imports was explained primarily by a decrease in imports from Switzerland ($-15k or -87.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (February 2023 - June 2024)$100k(70.8%)
IMPORT GROWTH (June 2023 - June 2024)$-5.16M(-7.7%)
MAIN DESTINATION (June 2024)Malaysia$208k

This section shows Gas Turbines'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 Gas Turbines over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$241M
IMPORTS (2022)$363M
NET TRADE (2022)-$122M

In 2022, Philippines exported $241M in Gas Turbines. The main destinations of Philippines exports on Gas Turbines were Hong Kong ($151M), India ($74.8M), United States ($7.82M), Singapore ($3.05M), and Germany ($1.33M).

In 2022, Philippines imported $363M in Gas Turbines, mainly from Singapore ($129M), United Kingdom ($43.5M), Poland ($40M), United States ($28.7M), and Hong Kong ($23.8M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Gas Turbines EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Hong Kong$112M (291%)
India$74.8M (1%)
United States$6.31M (420%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Gas Turbines BY Philippines WERE (2021 - 2022):
Singapore-$41.3M (-93.1%)
Ireland-$9.95M (-100%)
South Korea-$4.02M (-99.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Gas Turbines were:
United States $32.5B
United Kingdom $29.2B
France $13.6B
In 2022, Philippines's main importing competitors in Gas Turbines were:
United States $26.2B
United Kingdom $11.5B
China $9.91B

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Trade Value of Gas Turbines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $31.5M
TOP IMPORT POTENTIALUnited Kingdom+ $31.5M

Gas Turbines’s highest export potential is India. With an export gap of $31.5M.   Gas Turbines’s highest import potential is United Kingdom with an import gap of $31.5M.

See methodology.

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