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2023
Exports $128MWorld Rnk 42 / 219
Flag Rnk 87 / 1123
2023
Destination $264k United States
2022 - 2023
FASTEST GROWING MARKET $264kPeru
2023
PRODUCT COMPLEXITY IN Knit Sweaters-1.3Rnk 900 / 1025
2023
Imports $69.7MWorld Rnk 61 / 220
Flag Rnk 275 / 1202
2023
Origin $4.75M China
2022 - 2023
FASTEST GROWING ORIGIN $4.75MVietnam
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $128M in Knit Sweaters, making it the 42nd largest exporter of Knit Sweaters in the world. At the same year, Knit Sweaters was the 87th most exported product in Philippines. The main destination of Knit Sweaters exports from Philippines are: United States ($79.8M), Japan ($7.86M), Canada ($5.63M), China ($5.01M), and Germany ($4.58M).

The fastest growing export markets for Knit Sweaters of Philippines between 2022 and 2023 were Peru ($264k), Malaysia ($133k), and Israel ($53k).

Imports In 2023, Philippines imported $69.7M in Knit Sweaters, becoming the 61st largest importer of Knit Sweaters in the world. At the same year, Knit Sweaters was the 275th most imported product in Philippines. Philippines imports Knit Sweaters primarily from: China ($40.9M), Vietnam ($9.22M), Bangladesh ($5.33M), Italy ($3.93M), and Cambodia ($1.7M).

The fastest growing import markets in Knit Sweaters for Philippines between 2022 and 2023 were Vietnam ($4.75M), Italy ($1.85M), and Bangladesh ($1.07M).

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

July 2024

About

Overview In July 2024 Philippines' Knit Sweaters exports accounted up to $7.03M and imports accounted up to $5.66M, resulting in a positive trade balance of $1.37M. Between July 2023 and July 2024 the exports of Philippines'   Knit Sweaters have increased by $968k (16%) from $6.06M to $7.03M, while imports increased by $1.19M (26.5%) from $4.48M to $5.66M.

Destinations In July 2024, Knit Sweaters were exported mostly to United States ($6.16M), South Korea ($210k), Netherlands ($129k), Poland ($113k), and China ($89.9k), and were imported mostly from China ($2.85M), Vietnam ($732k), Indonesia ($530k), Bangladesh ($368k), and Italy ($319k).

Growth In July 2024, the increase in Knit Sweaters's year-by-year exports was explained primarily by an increase in exports to Hong Kong ($201k or 8.22k%), Poland ($107k or 138%), and Japan ($102k or 216%). In July 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 (July 2023 - July 2024)$968k(16%)
IMPORT GROWTH (July 2023 - July 2024)$1.19M(26.5%)
MAIN DESTINATION (July 2024)United States$6.16M

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 (2023)$128M
IMPORTS (2023)$69.7M
NET TRADE (2023)$58.1M

In 2023, Philippines exported $128M in Knit Sweaters. The main destinations of Philippines exports on Knit Sweaters were United States ($79.8M), Japan ($7.86M), Canada ($5.63M), China ($5.01M), and Germany ($4.58M).

In 2023, Philippines imported $69.7M in Knit Sweaters, mainly from China ($40.9M), Vietnam ($9.22M), Bangladesh ($5.33M), Italy ($3.93M), and Cambodia ($1.7M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Knit Sweaters EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
Peru$264k (497%)
Malaysia$133k (169%)
Israel$53k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knit Sweaters BY Philippines WERE (2022 - 2023):
United States-$87M (-52.2%)
Canada-$8.8M (-61%)
China-$5.73M (-53.4%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Knit Sweaters were:
China $19.7B
Bangladesh $6.68B
Vietnam $4.31B
In 2023, Philippines's main importing competitors in Knit Sweaters were:
United States $14.9B
Germany $5.42B
Japan $4.39B

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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.

See methodology.

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