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2022
Exports $42.7MWorld Rnk 40 / 203
Flag Rnk 182 / 1127
2022
Destination $12.9M Japan
2021 - 2022
FASTEST GROWING MARKET $12.9MJapan
2022
PRODUCT COMPLEXITY IN Knit Socks and Hosiery-0.71Rnk 761 / 1025
2022
Imports $145MWorld Rnk 23 / 218
Flag Rnk 199 / 1201
2022
Origin $63.9MN/A
2021 - 2022
FASTEST GROWING ORIGIN $63.9MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $42.7M in Knit Socks and Hosiery, making it the 40th largest exporter of Knit Socks and Hosiery in the world. At the same year, Knit Socks and Hosiery was the 182nd most exported product in Philippines. The main destination of Knit Socks and Hosiery exports from Philippines are: Japan ($21.9M), China ($5.04M), United States ($4.4M), Germany ($3.35M), and Kuwait ($2.09M).

The fastest growing export markets for Knit Socks and Hosiery of Philippines between 2021 and 2022 were Japan ($12.9M), Kuwait ($2.08M), and United States ($1.24M).

Imports In 2022, Philippines imported $145M in Knit Socks and Hosiery, becoming the 23rd largest importer of Knit Socks and Hosiery in the world. At the same year, Knit Socks and Hosiery was the 199th most imported product in Philippines. Philippines imports Knit Socks and Hosiery primarily from: N/A.

The fastest growing import markets in Knit Socks and Hosiery for Philippines between 2021 and 2022 were China ($63.9M), Chinese Taipei ($846k), and Vietnam ($485k).

Latest Trends

August 2024

About

Overview In August 2024 Philippines' Knit Socks and Hosiery exports accounted up to $1.58M and imports accounted up to $3.02M, resulting in a negative trade balance of $1.44M. Between August 2023 and August 2024 the exports of Philippines'   Knit Socks and Hosiery have decreased by $-148k (-8.57%) from $1.73M to $1.58M, while imports increased by $642k (27%) from $2.38M to $3.02M.

Destinations In August 2024, Knit Socks and Hosiery were exported mostly to Japan ($589k), United States ($346k), Germany ($198k), China ($181k), and Singapore ($63.1k), and were imported mostly from China ($2.17M), Vietnam ($456k), Chinese Taipei ($183k), United States ($50.4k), and Pakistan ($45.8k).

Growth In August 2024, the decrease in Knit Socks and Hosiery's year-by-year exports was explained primarily by a decrease in exports to Germany ($-39k or -35.2%), Chinese Taipei ($-22.3k or -65.6%), and Malaysia ($-12.5k or -86.6%). In August 2024, the increase in Knit Socks and Hosiery's year-by-year imports was explained primarily by an increase in imports from China ($794k or 167%), Chinese Taipei ($127k or 855%), and Cambodia ($15.7k or 2.34k%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-148k(-8.57%)
IMPORT GROWTH (August 2023 - August 2024)$642k(27%)
MAIN DESTINATION (August 2024)Japan$589k

This section shows Knit Socks and Hosiery'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 Socks and Hosiery over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$42.7M
IMPORTS (2022)$145M
NET TRADE (2022)-$102M

In 2022, Philippines exported $42.7M in Knit Socks and Hosiery. The main destinations of Philippines exports on Knit Socks and Hosiery were Japan ($21.9M), China ($5.04M), United States ($4.4M), Germany ($3.35M), and Kuwait ($2.09M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Knit Socks and Hosiery EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Japan$12.9M (145%)
Kuwait$2.08M (19.6k%)
United States$1.24M (39.4%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Socks and Hosiery BY Philippines WERE (2021 - 2022):
China-$1M (-16.6%)
Austria-$420k (-99.8%)
Colombia-$99.9k (-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 Socks and Hosiery were:
China $7.01B
Turkey $1.38B
Germany $779M
In 2022, Philippines's main importing competitors in Knit Socks and Hosiery were:
United States $2.93B
Germany $1.51B
Japan $866M

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Trade Value of Knit Socks and Hosiery by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $2.97M
TOP IMPORT POTENTIALChina+ $6.31M

Knit Socks and Hosiery’s highest export potential is United States. With an export gap of $2.97M.   Knit Socks and Hosiery’s highest import potential is China with an import gap of $6.31M.

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