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2022
Exports $9.65MWorld Rnk 60 / 141
Flag Rnk 340 / 1127
2022
Destination $2.29M Malaysia
2021 - 2022
FASTEST GROWING MARKET $2.29MMalaysia
2022
PRODUCT COMPLEXITY IN Inedible Fats and Oils-0.34Rnk 660 / 1025
2022
Imports $38.1MWorld Rnk 28 / 186
Flag Rnk 442 / 1201
2022
Origin $2.32M Indonesia
2021 - 2022
FASTEST GROWING ORIGIN $2.32MIndia
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $9.65M in Inedible Fats and Oils, making it the 60th largest exporter of Inedible Fats and Oils in the world. At the same year, Inedible Fats and Oils was the 340th most exported product in Philippines. The main destination of Inedible Fats and Oils exports from Philippines are: Malaysia ($4.63M), South Korea ($1.95M), Spain ($1.32M), Netherlands ($752k), and Singapore ($406k).

The fastest growing export markets for Inedible Fats and Oils of Philippines between 2021 and 2022 were Malaysia ($2.29M), Spain ($1.26M), and South Korea ($340k).

Imports In 2022, Philippines imported $38.1M in Inedible Fats and Oils, becoming the 28th largest importer of Inedible Fats and Oils in the world. At the same year, Inedible Fats and Oils was the 442nd most imported product in Philippines. Philippines imports Inedible Fats and Oils primarily from: Indonesia ($19.9M), Malaysia ($12.8M), India ($2.93M), China ($1.26M), and Thailand ($306k).

The fastest growing import markets in Inedible Fats and Oils for Philippines between 2021 and 2022 were India ($2.32M), United Kingdom ($164k), and Italy ($146k).

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Inedible Fats and Oils exports accounted up to $460k and imports accounted up to $218k, resulting in a positive trade balance of $242k. Between June 2023 and June 2024 the exports of Philippines'   Inedible Fats and Oils have decreased by $-503k (-52.2%) from $963k to $460k, while imports decreased by $-117k (-34.9%) from $334k to $218k.

Destinations In June 2024, Inedible Fats and Oils were exported mostly to Malaysia ($378k), Pakistan ($41.6k), and South Korea ($40.3k), and were imported mostly from United States ($195k), Japan ($18.8k), and South Korea ($3.98k).

Growth In June 2024, the decrease in Inedible Fats and Oils's year-by-year exports was explained primarily by a decrease in exports to South Korea ($-175k or -70.2%). In June 2024, the decrease in Inedible Fats and Oils's year-by-year imports was explained primarily by a decrease in imports from Japan ($-4.75k or -18.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-503k(-52.2%)
IMPORT GROWTH (June 2023 - June 2024)$-117k(-34.9%)
MAIN DESTINATION (June 2024)Malaysia$378k

This section shows Inedible Fats and Oils'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 Inedible Fats and Oils over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$9.65M
IMPORTS (2022)$38.1M
NET TRADE (2022)-$28.5M

In 2022, Philippines exported $9.65M in Inedible Fats and Oils. The main destinations of Philippines exports on Inedible Fats and Oils were Malaysia ($4.63M), South Korea ($1.95M), Spain ($1.32M), Netherlands ($752k), and Singapore ($406k).

In 2022, Philippines imported $38.1M in Inedible Fats and Oils, mainly from Indonesia ($19.9M), Malaysia ($12.8M), India ($2.93M), China ($1.26M), and Thailand ($306k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Inedible Fats and Oils EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Malaysia$2.29M (97.4%)
Spain$1.26M (2.39k%)
South Korea$340k (21.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Inedible Fats and Oils BY Philippines WERE (2021 - 2022):
Netherlands-$483k (-39.1%)
Thailand-$27.7k (-100%)
India-$6.21k (-99.5%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Inedible Fats and Oils were:
China $2.4B
Netherlands $1.68B
Malaysia $942M
In 2022, Philippines's main importing competitors in Inedible Fats and Oils were:
Netherlands $2.47B
Singapore $1.19B
Spain $1.03B

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Trade Value of Inedible Fats and Oils by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALNetherlands+ $809k
TOP IMPORT POTENTIALChina+ $1.4M

Inedible Fats and Oils’s highest export potential is Netherlands. With an export gap of $809k.   Inedible Fats and Oils’s highest import potential is China with an import gap of $1.4M.

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