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2023
Exports $1.13MWorld Rnk 52 / 196
Flag Rnk 565 / 1123
2023
Destination $406k Japan
2022 - 2023
FASTEST GROWING MARKET $406kJapan
2023
PRODUCT COMPLEXITY IN Hand Tools0.76Rnk 262 / 1025
2023
Imports $11MWorld Rnk 53 / 220
Flag Rnk 650 / 1202
2023
Origin $534k China
2022 - 2023
FASTEST GROWING ORIGIN $534kChina
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $1.13M in Hand Tools, making it the 52nd largest exporter of Hand Tools in the world. At the same year, Hand Tools was the 565th most exported product in Philippines. The main destination of Hand Tools exports from Philippines are: Japan ($705k), United Kingdom ($178k), United States ($66k), Netherlands ($37.7k), and Germany ($25.8k).

The fastest growing export markets for Hand Tools of Philippines between 2022 and 2023 were Japan ($406k), United Kingdom ($84.7k), and Singapore ($22.3k).

Imports In 2023, Philippines imported $11M in Hand Tools, becoming the 53rd largest importer of Hand Tools in the world. At the same year, Hand Tools was the 650th most imported product in Philippines. Philippines imports Hand Tools primarily from: China ($5.12M), Japan ($2.66M), United States ($687k), Singapore ($441k), and Germany ($429k).

The fastest growing import markets in Hand Tools for Philippines between 2022 and 2023 were China ($534k), Japan ($500k), and Malaysia ($257k).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Hand Tools exports accounted up to $79.4k and imports accounted up to $637k, resulting in a negative trade balance of $557k. Between July 2023 and July 2024 the exports of Philippines'   Hand Tools have increased by $4.38k (5.84%) from $75k to $79.4k, while imports decreased by $-80.1k (-11.2%) from $717k to $637k.

Destinations In July 2024, Hand Tools were exported mostly to Hong Kong ($45.3k), Japan ($31.6k), India ($2.3k), Thailand ($156), and Ireland ($72), and were imported mostly from China ($281k), Japan ($127k), United States ($81.2k), Chinese Taipei ($32.9k), and Singapore ($30.3k).

Growth In July 2024, the increase in Hand Tools's year-by-year exports was explained primarily by an increase in exports to . In July 2024, the decrease in Hand Tools's year-by-year imports was explained primarily by a decrease in imports from South Korea ($-7.17k or -21.6%), Chinese Taipei ($-3.86k or -19.2%), and Netherlands ($-2.55k or -78.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$4.38k(5.84%)
IMPORT GROWTH (July 2023 - July 2024)$-80.1k(-11.2%)
MAIN DESTINATION (July 2024)Hong Kong$45.3k

This section shows Hand Tools'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 Hand Tools over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$1.13M
IMPORTS (2023)$11M
NET TRADE (2023)-$9.84M

In 2023, Philippines exported $1.13M in Hand Tools. The main destinations of Philippines exports on Hand Tools were Japan ($705k), United Kingdom ($178k), United States ($66k), Netherlands ($37.7k), and Germany ($25.8k).

In 2023, Philippines imported $11M in Hand Tools, mainly from China ($5.12M), Japan ($2.66M), United States ($687k), Singapore ($441k), and Germany ($429k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Hand Tools EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
Japan$406k (136%)
United Kingdom$84.7k (91.1%)
Singapore$22.3k (953%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Hand Tools BY Philippines WERE (2022 - 2023):
United States-$52.4k (-44.2%)
Indonesia-$9.47k (-87.9%)
Oman-$8.88k (-87.5%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Hand Tools were:
China $997M
Germany $448M
Chinese Taipei $235M
In 2023, Philippines's main importing competitors in Hand Tools were:
United States $479M
Germany $204M
France $135M

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Trade Value of Hand Tools by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $161k
TOP IMPORT POTENTIALChina+ $937k

Hand Tools’s highest export potential is United States. With an export gap of $161k.   Hand Tools’s highest import potential is China with an import gap of $937k.

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