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2022
Exports $30.5MWorld Rnk 20 / 185
Flag Rnk 213 / 1127
2022
Destination $1.55M United States
2021 - 2022
FASTEST GROWING MARKET $1.55MCanada
2022
PRODUCT COMPLEXITY IN Knit Gloves-0.99Rnk 839 / 1025
2022
Imports $35.1MWorld Rnk 35 / 218
Flag Rnk 459 / 1201
2022
Origin $1.2M China
2021 - 2022
FASTEST GROWING ORIGIN $1.2MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $30.5M in Knit Gloves, making it the 20th largest exporter of Knit Gloves in the world. At the same year, Knit Gloves was the 213th most exported product in Philippines. The main destination of Knit Gloves exports from Philippines are: United States ($14.4M), Japan ($9.62M), Canada ($2.03M), China ($424k), and United Kingdom ($381k).

The fastest growing export markets for Knit Gloves of Philippines between 2021 and 2022 were Canada ($1.55M), United States ($1.3M), and Mexico ($212k).

Imports In 2022, Philippines imported $35.1M in Knit Gloves, becoming the 35th largest importer of Knit Gloves in the world. At the same year, Knit Gloves was the 459th most imported product in Philippines. Philippines imports Knit Gloves primarily from: China ($30.8M), Malaysia ($1.16M), South Korea ($1.06M), Vietnam ($833k), and Japan ($212k).

The fastest growing import markets in Knit Gloves for Philippines between 2021 and 2022 were China ($1.2M), Vietnam ($376k), and Pakistan ($80.8k).

Latest Trends

August 2024

About

Overview In August 2024 Philippines' Knit Gloves exports accounted up to $2.13M and imports accounted up to $459k, resulting in a positive trade balance of $1.67M. Between August 2023 and August 2024 the exports of Philippines'   Knit Gloves have decreased by $-996k (-31.9%) from $3.12M to $2.13M, while imports increased by $5.61k (1.24%) from $454k to $459k.

Destinations In August 2024, Knit Gloves were exported mostly to Japan ($759k), United States ($568k), Sweden ($289k), Canada ($118k), and Netherlands ($71.4k), and were imported mostly from China ($259k), Hong Kong ($43.6k), Vietnam ($40.9k), Indonesia ($23.8k), and Japan ($20.6k).

Growth In August 2024, the decrease in Knit Gloves's year-by-year exports was explained primarily by a decrease in exports to United States ($-562k or -95.9%), Australia ($-4.53k or -66.5%), and Japan ($-3.62k or -0.58%). In August 2024, the increase in Knit Gloves's year-by-year imports was explained primarily by an increase in imports from Hong Kong ($55.9k or 23.3k%), Vietnam ($14.5k or 29.4%), and South Korea ($11.2k or 42.1%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-996k(-31.9%)
IMPORT GROWTH (August 2023 - August 2024)$5.61k(1.24%)
MAIN DESTINATION (August 2024)Japan$759k

This section shows Knit Gloves'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 Knit Gloves over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$30.5M
IMPORTS (2022)$35.1M
NET TRADE (2022)-$4.68M

In 2022, Philippines exported $30.5M in Knit Gloves. The main destinations of Philippines exports on Knit Gloves were United States ($14.4M), Japan ($9.62M), Canada ($2.03M), China ($424k), and United Kingdom ($381k).

In 2022, Philippines imported $35.1M in Knit Gloves, mainly from China ($30.8M), Malaysia ($1.16M), South Korea ($1.06M), Vietnam ($833k), and Japan ($212k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Knit Gloves EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Canada$1.55M (322%)
United States$1.3M (9.91%)
Mexico$212k (219%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Gloves BY Philippines WERE (2021 - 2022):
Japan-$1.01M (-9.48%)
Netherlands-$218k (-41.8%)
Russia-$71.1k (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Knit Gloves were:
China $3.35B
Sri Lanka $406M
Vietnam $377M
In 2022, Philippines's main importing competitors in Knit Gloves were:
United States $1.23B
Germany $491M
Japan $473M

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Trade Value of Knit Gloves by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $3.73M
TOP IMPORT POTENTIALChina+ $4.8M

Knit Gloves’s highest export potential is United States. With an export gap of $3.73M.   Knit Gloves’s highest import potential is China with an import gap of $4.8M.

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