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2022
Exports $2.24MWorld Rnk 57 / 158
Flag Rnk 511 / 1127
2022
Destination $272k China
2021 - 2022
FASTEST GROWING MARKET $272kIndia
2022
PRODUCT COMPLEXITY IN Industrial Furnaces0.84Rnk 229 / 1025
2022
Imports $30.2MWorld Rnk 42 / 213
Flag Rnk 494 / 1201
2022
Origin $10.5M United States
2021 - 2022
FASTEST GROWING ORIGIN $10.5MUnited States
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $2.24M in Industrial Furnaces, making it the 57th largest exporter of Industrial Furnaces in the world. At the same year, Industrial Furnaces was the 511th most exported product in Philippines. The main destination of Industrial Furnaces exports from Philippines are: China ($746k), Thailand ($275k), India ($273k), Chinese Taipei ($248k), and Japan ($162k).

The fastest growing export markets for Industrial Furnaces of Philippines between 2021 and 2022 were India ($272k), Indonesia ($116k), and Chinese Taipei ($110k).

Imports In 2022, Philippines imported $30.2M in Industrial Furnaces, becoming the 42nd largest importer of Industrial Furnaces in the world. At the same year, Industrial Furnaces was the 494th most imported product in Philippines. Philippines imports Industrial Furnaces primarily from: United States ($10.9M), China ($10.5M), Italy ($2.46M), Japan ($2.02M), and Finland ($952k).

The fastest growing import markets in Industrial Furnaces for Philippines between 2021 and 2022 were United States ($10.5M), Finland ($952k), and Chinese Taipei ($307k).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Industrial Furnaces exports accounted up to $6.34k and imports accounted up to $2.02M, resulting in a negative trade balance of $2.02M. Between May 2023 and July 2024 the exports of Philippines'   Industrial Furnaces have decreased by $-193k (-96.8%) from $199k to $6.34k, while imports decreased by $-2.41M (-54.4%) from $4.44M to $2.02M.

Destinations In July 2024, Industrial Furnaces were exported mostly to United Arab Emirates ($5.95k), Japan ($347), and Thailand ($40), and were imported mostly from China ($1.37M), Japan ($287k), United States ($122k), Italy ($50.8k), and Thailand ($49.2k).

Growth In July 2024, the decrease in Industrial Furnaces's year-by-year exports was explained primarily by a decrease in exports to Japan ($-26.9k or -34%), Chinese Taipei ($-15.3k or -86.8%), and Thailand ($-7.13k or -92.8%). In July 2024, the decrease in Industrial Furnaces's year-by-year imports was explained primarily by a decrease in imports from South Korea ($-313k or -98.5%), India ($-75.1k or -96.8%), and Thailand ($-36.7k or -93.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (May 2023 - July 2024)$-193k(-96.8%)
IMPORT GROWTH (July 2023 - July 2024)$-2.41M(-54.4%)
MAIN DESTINATION (July 2024)United Arab Emirates$5.95k

This section shows Industrial Furnaces'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 Industrial Furnaces over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$2.24M
IMPORTS (2022)$30.2M
NET TRADE (2022)-$28M

In 2022, Philippines exported $2.24M in Industrial Furnaces. The main destinations of Philippines exports on Industrial Furnaces were China ($746k), Thailand ($275k), India ($273k), Chinese Taipei ($248k), and Japan ($162k).

In 2022, Philippines imported $30.2M in Industrial Furnaces, mainly from United States ($10.9M), China ($10.5M), Italy ($2.46M), Japan ($2.02M), and Finland ($952k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Industrial Furnaces EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
India$272k (22.5k%)
Indonesia$116k (2.21k%)
Chinese Taipei$110k (79.3%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Industrial Furnaces BY Philippines WERE (2021 - 2022):
Japan-$637k (-79.7%)
Vietnam-$198k (-73%)
Malaysia-$75.1k (-35.5%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Industrial Furnaces were:
China $1.77B
Italy $645M
Germany $576M
In 2022, Philippines's main importing competitors in Industrial Furnaces were:
Indonesia $474M
United States $382M
India $229M

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Trade Value of Industrial Furnaces by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $208k
TOP IMPORT POTENTIALChina+ $4.36M

Industrial Furnaces’s highest export potential is India. With an export gap of $208k.   Industrial Furnaces’s highest import potential is China with an import gap of $4.36M.

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