Gaskets in Philippines | The Observatory of Economic Complexity

About

Exports In 2022, Philippines exported $7.29M in Gaskets, making it the 41st largest exporter of Gaskets in the world. At the same year, Gaskets was the 375th most exported product in Philippines. The main destination of Gaskets exports from Philippines are: Malaysia ($1.5M), Indonesia ($1.42M), China ($834k), Singapore ($515k), and Malta ($455k).

The fastest growing export markets for Gaskets of Philippines between 2021 and 2022 were Singapore ($226k), Austria ($154k), and Italy ($103k).

Imports In 2022, Philippines imported $22.7M in Gaskets, becoming the 44th largest importer of Gaskets in the world. At the same year, Gaskets was the 554th most imported product in Philippines. Philippines imports Gaskets primarily from: Japan ($3.93M), Singapore ($3.61M), Chinese Taipei ($2.63M), China ($2.36M), and United States ($1.54M).

The fastest growing import markets in Gaskets for Philippines between 2021 and 2022 were United States ($787k), Singapore ($521k), and Thailand ($377k).

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Gaskets exports accounted up to $792k and imports accounted up to $2.48M, resulting in a negative trade balance of $1.69M. Between June 2023 and June 2024 the exports of Philippines' Gaskets have decreased by $-232k (-22.7%) from $1.02M to $792k, while imports decreased by $-1.03M (-29.3%) from $3.51M to $2.48M.

Destinations In June 2024, Gaskets were exported mostly to South Korea ($198k), Singapore ($151k), Malaysia ($150k), Germany ($125k), and Chinese Taipei ($74.4k), and were imported mostly from Germany ($702k), Japan ($414k), Singapore ($351k), United States ($288k), and Thailand ($112k).

Growth In June 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 ($-102k or -82.6%). In June 2024, the decrease in Gaskets's year-by-year imports was explained primarily by a decrease in imports from Japan ($-385k or -36.8%), South Korea ($-156k or -79.2%), and Thailand ($-67.9k or -34.5%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (June 2023 - June 2024)$-232k(-22.7%)

IMPORT GROWTH (June 2023 - June 2024)$-1.03M(-29.3%)

MAIN DESTINATION (June 2024)South Korea$198k

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 (2022)$7.29M

IMPORTS (2022)$22.7M

NET TRADE (2022)-$15.4M

In 2022, Philippines exported $7.29M in Gaskets. The main destinations of Philippines exports on Gaskets were Malaysia ($1.5M), Indonesia ($1.42M), China ($834k), Singapore ($515k), and Malta ($455k).

In 2022, Philippines imported $22.7M in Gaskets, mainly from Japan ($3.93M), Singapore ($3.61M), Chinese Taipei ($2.63M), China ($2.36M), and United States ($1.54M).

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