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2022
Exports $129MWorld Rnk 46 / 221
Flag Rnk 91 / 1127
2022
Destination $6.02M United States
2021 - 2022
FASTEST GROWING MARKET $6.02MCanada
2022
PRODUCT COMPLEXITY IN Knit Sweaters-1.3Rnk 909 / 1025
2022
Imports $327MWorld Rnk 35 / 218
Flag Rnk 108 / 1201
2022
Origin $61.1M China
2021 - 2022
FASTEST GROWING ORIGIN $61.1MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $129M in Knit Sweaters, making it the 46th largest exporter of Knit Sweaters in the world. At the same year, Knit Sweaters was the 91st most exported product in Philippines. The main destination of Knit Sweaters exports from Philippines are: United States ($58.4M), Canada ($13M), Japan ($8.68M), Germany ($8.27M), and China ($6.8M).

The fastest growing export markets for Knit Sweaters of Philippines between 2021 and 2022 were Canada ($6.02M), United Kingdom ($4.87M), and China ($4.75M).

Imports In 2022, Philippines imported $327M in Knit Sweaters, becoming the 35th largest importer of Knit Sweaters in the world. At the same year, Knit Sweaters was the 108th most imported product in Philippines. Philippines imports Knit Sweaters primarily from: China ($303M), Vietnam ($4.43M), Bangladesh ($4.26M), Spain ($4.08M), and Italy ($2.77M).

The fastest growing import markets in Knit Sweaters for Philippines between 2021 and 2022 were China ($61.1M), Vietnam ($3.08M), and Bangladesh ($2.52M).

COMPANIES In 2023, leading companies such as Adidas (50) were at the forefront of shipping Knit Sweaters from Philippines to the United States.

Latest Trends

August 2024

About

Overview In August 2024 Philippines' Knit Sweaters exports accounted up to $7.34M and imports accounted up to $5.89M, resulting in a positive trade balance of $1.45M. Between August 2023 and August 2024 the exports of Philippines'   Knit Sweaters have decreased by $-2.36M (-24.3%) from $9.71M to $7.34M, while imports increased by $1.44M (32.2%) from $4.46M to $5.89M.

Destinations In August 2024, Knit Sweaters were exported mostly to United States ($6.06M), China ($565k), Netherlands ($239k), South Korea ($106k), and Poland ($86.7k), and were imported mostly from China ($2.6M), Vietnam ($1.31M), Indonesia ($589k), Bangladesh ($448k), and Italy ($295k).

Growth In August 2024, the decrease in Knit Sweaters's year-by-year exports was explained primarily by a decrease in exports to United States ($-2.54M or -55.9%) and South Korea ($-40.4k or -21%). In August 2024, the increase in Knit Sweaters's year-by-year imports was explained primarily by an increase in imports from China ($568k or 86.5%), Bangladesh ($404k or 192%), and Italy ($363k or 367%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-2.36M(-24.3%)
IMPORT GROWTH (August 2023 - August 2024)$1.44M(32.2%)
MAIN DESTINATION (August 2024)United States$6.06M

This section shows Knit Sweaters'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 Sweaters over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$129M
IMPORTS (2022)$327M
NET TRADE (2022)-$198M

In 2022, Philippines exported $129M in Knit Sweaters. The main destinations of Philippines exports on Knit Sweaters were United States ($58.4M), Canada ($13M), Japan ($8.68M), Germany ($8.27M), and China ($6.8M).

In 2022, Philippines imported $327M in Knit Sweaters, mainly from China ($303M), Vietnam ($4.43M), Bangladesh ($4.26M), Spain ($4.08M), and Italy ($2.77M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Knit Sweaters EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Canada$6.02M (85.8%)
United Kingdom$4.87M (507%)
China$4.75M (233%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Sweaters BY Philippines WERE (2021 - 2022):
Japan-$4.52M (-34.2%)
Austria-$1.29M (-99.7%)
South Korea-$1.14M (-21.7%)
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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 Sweaters were:
China $20.4B
Bangladesh $8.02B
Vietnam $4.83B
In 2022, Philippines's main importing competitors in Knit Sweaters were:
United States $15.9B
Germany $7.28B
Japan $4.37B

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Trade Value of Knit Sweaters by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $39.1M
TOP IMPORT POTENTIALChina+ $29.5M

Knit Sweaters’s highest export potential is United States. With an export gap of $39.1M.   Knit Sweaters’s highest import potential is China with an import gap of $29.5M.

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