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2022
Exports $3.26BWorld Rnk 13 / 222
Flag Rnk 5 / 1127
2022
Destination $99M Japan
2021 - 2022
FASTEST GROWING MARKET $99MUnited States
2022
PRODUCT COMPLEXITY IN Insulated Wire-0.59Rnk 723 / 1025
2022
Imports $1.74BWorld Rnk 24 / 225
Flag Rnk 10 / 1201
2022
Origin $97M China
2021 - 2022
FASTEST GROWING ORIGIN $97MJapan
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $3.26B in Insulated Wire, making it the 13th largest exporter of Insulated Wire in the world. At the same year, Insulated Wire was the 5th most exported product in Philippines. The main destination of Insulated Wire exports from Philippines are: Japan ($1.4B), United States ($950M), South Korea ($232M), Canada ($205M), and Mexico ($117M).

The fastest growing export markets for Insulated Wire of Philippines between 2021 and 2022 were United States ($99M), Mexico ($84.1M), and China ($46.5M).

Imports In 2022, Philippines imported $1.74B in Insulated Wire, becoming the 24th largest importer of Insulated Wire in the world. At the same year, Insulated Wire was the 10th most imported product in Philippines. Philippines imports Insulated Wire primarily from: China ($864M), Japan ($231M), South Korea ($142M), Vietnam ($83.6M), and Thailand ($71.3M).

The fastest growing import markets in Insulated Wire for Philippines between 2021 and 2022 were Japan ($97M), South Korea ($32.2M), and Norway ($17.9M).

COMPANIES In 2023, leading companies such as Konecranes (11), Walgreens (10), and Electrolux (6) were at the forefront of shipping Insulated Wire from Philippines to the United States.

Latest Trends

August 2024

About

Overview In August 2024 Philippines' Insulated Wire exports accounted up to $251M and imports accounted up to $115M, resulting in a positive trade balance of $136M. Between August 2023 and August 2024 the exports of Philippines'   Insulated Wire have decreased by $-18.7M (-6.92%) from $270M to $251M, while imports increased by $13.4M (13.2%) from $102M to $115M.

Destinations In August 2024, Insulated Wire were exported mostly to Japan ($109M), United States ($97M), South Korea ($11.6M), Canada ($10.5M), and China ($8.65M), and were imported mostly from China ($50.1M), Japan ($13.4M), South Korea ($10.8M), Vietnam ($7.7M), and Thailand ($6.33M).

Growth In August 2024, the decrease in Insulated Wire's year-by-year exports was explained primarily by a decrease in exports to Vietnam ($-1.52M or -73.1%), China ($-1.16M or -27%), and Malaysia ($-116k or -27.6%). In August 2024, the increase in Insulated Wire's year-by-year imports was explained primarily by an increase in imports from Japan ($46.1M or 391%), South Korea ($9.91M or 148%), and United Arab Emirates ($2.1M or 121k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-18.7M(-6.92%)
IMPORT GROWTH (August 2023 - August 2024)$13.4M(13.2%)
MAIN DESTINATION (August 2024)Japan$109M

This section shows Insulated Wire'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 Insulated Wire over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$3.26B
IMPORTS (2022)$1.74B
NET TRADE (2022)$1.52B

In 2022, Philippines exported $3.26B in Insulated Wire. The main destinations of Philippines exports on Insulated Wire were Japan ($1.4B), United States ($950M), South Korea ($232M), Canada ($205M), and Mexico ($117M).

In 2022, Philippines imported $1.74B in Insulated Wire, mainly from China ($864M), Japan ($231M), South Korea ($142M), Vietnam ($83.6M), and Thailand ($71.3M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Insulated Wire EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
United States$99M (11.6%)
Mexico$84.1M (254%)
China$46.5M (79.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Insulated Wire BY Philippines WERE (2021 - 2022):
Thailand-$63.5M (-52.9%)
Russia-$20.4M (-97.3%)
Singapore-$17.8M (-69%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Insulated Wire were:
China $33.9B
Mexico $16.6B
United States $11B
In 2022, Philippines's main importing competitors in Insulated Wire were:
United States $29.8B
Germany $15.4B
Mexico $8.28B

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Trade Value of Insulated Wire by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $199M
TOP IMPORT POTENTIALChina+ $114M

Insulated Wire’s highest export potential is United States. With an export gap of $199M.   Insulated Wire’s highest import potential is China with an import gap of $114M.

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