Gaskets in Philippines | The Observatory of Economic Complexity

About

Exports In 2023, Philippines exported $3.9M in Gaskets, making it the 50th largest exporter of Gaskets in the world. At the same year, Gaskets was the 423rd most exported product in Philippines. The main destination of Gaskets exports from Philippines are: Germany ($817k), China ($768k), Malta ($428k), South Korea ($378k), and Indonesia ($350k).

The fastest growing export markets for Gaskets of Philippines between 2022 and 2023 were Germany ($810k), South Korea ($152k), and Oman ($76.8k).

Imports In 2023, Philippines imported $28.4M in Gaskets, becoming the 42nd largest importer of Gaskets in the world. At the same year, Gaskets was the 448th most imported product in Philippines. Philippines imports Gaskets primarily from: Japan ($6.63M), United States ($4.26M), China ($3.31M), Germany ($2.07M), and Singapore ($1.62M).

The fastest growing import markets in Gaskets for Philippines between 2022 and 2023 were Germany ($633k), Malaysia ($517k), and Netherlands ($482k).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Gaskets exports accounted up to $998k and imports accounted up to $4.01M, resulting in a negative trade balance of $3.01M. Between July 2023 and July 2024 the exports of Philippines' Gaskets have decreased by $-264k (-20.9%) from $1.26M to $998k, while imports increased by $580k (16.9%) from $3.43M to $4.01M.

Destinations In July 2024, Gaskets were exported mostly to Malaysia ($327k), Australia ($212k), Chinese Taipei ($137k), China ($113k), and Singapore ($77k), and were imported mostly from Japan ($523k), United States ($502k), Malaysia ($469k), Singapore ($431k), and Germany ($387k).

Growth In July 2024, the decrease in Gaskets's year-by-year exports was explained primarily by a decrease in exports to Malaysia ($-135k or -30.6%), Chinese Taipei ($-125k or -98.1%), and Germany ($-102k or -82.6%). In July 2024, the increase in Gaskets's year-by-year imports was explained primarily by an increase in imports from United States ($426k or 59%), Germany ($141k or 112%), and Singapore ($116k or 24.8%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (July 2023 - July 2024)$-264k(-20.9%)

IMPORT GROWTH (July 2023 - July 2024)$580k(16.9%)

MAIN DESTINATION (July 2024)Malaysia$327k

This section shows Gaskets'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 Gaskets over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2023)$3.9M

IMPORTS (2023)$28.4M

NET TRADE (2023)-$24.5M

In 2023, Philippines exported $3.9M in Gaskets. The main destinations of Philippines exports on Gaskets were Germany ($817k), China ($768k), Malta ($428k), South Korea ($378k), and Indonesia ($350k).

In 2023, Philippines imported $28.4M in Gaskets, mainly from Japan ($6.63M), United States ($4.26M), China ($3.31M), Germany ($2.07M), and Singapore ($1.62M).

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