Iron Ore in Philippines | The Observatory of Economic Complexity

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Exports In 2023, Philippines exported $366M in Iron Ore, making it the 22nd largest exporter of Iron Ore in the world. At the same year, Iron Ore was the 42nd most exported product in Philippines. The main destination of Iron Ore exports from Philippines are: Japan ($351M), China ($13.9M), and Vietnam ($1.46M).

The fastest growing export markets for Iron Ore of Philippines between 2022 and 2023 were Japan ($219M), China ($3.03M), and Vietnam ($1.46M).

Imports In 2023, Philippines imported $542M in Iron Ore, becoming the 25th largest importer of Iron Ore in the world. At the same year, Iron Ore was the 41st most imported product in Philippines. Philippines imports Iron Ore primarily from: Brazil ($498M), Canada ($26.9M), Australia ($9.3M), China ($7.44M), and Japan ($187k).

The fastest growing import markets in Iron Ore for Philippines between 2022 and 2023 were Brazil ($41.8M), China ($7.42M), and Australia ($2.01M).

Latest Trends

July 2024

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Overview In July 2024 Philippines' Iron Ore exports accounted up to $29.9M and imports accounted up to $50.1M, resulting in a negative trade balance of $20.2M. Between July 2023 and July 2024 the exports of Philippines' Iron Ore have increased by $4.02M (15.5%) from $25.9M to $29.9M, while imports increased by $40.7M (433%) from $9.4M to $50.1M.

Destinations In July 2024, Iron Ore were exported mostly to Japan ($29.9M), and were imported mostly from Brazil ($44.7M), South Africa ($5.42M), and Netherlands ($10.5k).

Growth In July 2024, the increase in Iron Ore's year-by-year exports was explained primarily by an increase in exports to Japan ($44M or 2.71k%). In July 2024, the increase in Iron Ore's year-by-year imports was explained primarily by an increase in imports from .

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (July 2023 - July 2024)$4.02M(15.5%)

IMPORT GROWTH (July 2023 - July 2024)$40.7M(433%)

MAIN DESTINATION (July 2024)Japan$29.9M

This section shows Iron Ore'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 Iron Ore over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2023)$366M

IMPORTS (2023)$542M

NET TRADE (2023)-$175M

In 2023, Philippines exported $366M in Iron Ore. The main destinations of Philippines exports on Iron Ore were Japan ($351M), China ($13.9M), and Vietnam ($1.46M).

In 2023, Philippines imported $542M in Iron Ore, mainly from Brazil ($498M), Canada ($26.9M), Australia ($9.3M), China ($7.44M), and Japan ($187k).

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