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2022
Exports $56.6kWorld Rnk 73 / 120
Flag Rnk 882 / 1127
2022
Destination $56.4k South Korea
2021 - 2022
FASTEST GROWING MARKET $56.4kSouth Korea
2022
PRODUCT COMPLEXITY IN Knitting Machines1.1Rnk 135 / 1025
2022
Imports $10.6MWorld Rnk 44 / 191
Flag Rnk 709 / 1201
2022
Origin $4.48M China
2021 - 2022
FASTEST GROWING ORIGIN $4.48MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $56.6k in Knitting Machines, making it the 73rd largest exporter of Knitting Machines in the world. At the same year, Knitting Machines was the 882nd most exported product in Philippines. The main destination of Knitting Machines exports from Philippines are: South Korea ($56.5k) and Ireland ($90).

The fastest growing export markets for Knitting Machines of Philippines between 2021 and 2022 were South Korea ($56.4k) and Ireland ($90).

Imports In 2022, Philippines imported $10.6M in Knitting Machines, becoming the 44th largest importer of Knitting Machines in the world. At the same year, Knitting Machines was the 709th most imported product in Philippines. Philippines imports Knitting Machines primarily from: China ($7.98M), Chinese Taipei ($1.23M), Japan ($607k), Ireland ($256k), and Germany ($200k).

The fastest growing import markets in Knitting Machines for Philippines between 2021 and 2022 were China ($4.48M), Chinese Taipei ($878k), and Japan ($392k).

Latest Trends

February 2024

About

Overview In February 2024 Philippines' Knitting Machines exports accounted up to $35k and imports accounted up to $141k, resulting in a negative trade balance of $106k. Between January 2020 and February 2024 the exports of Philippines'   Knitting Machines have decreased by $-19.5k (-35.8%) from $54.5k to $35k, while imports decreased by $-607k (-81.1%) from $748k to $141k.

Destinations In February 2024, Knitting Machines were exported mostly to , and were imported mostly from Ireland ($82.3k), South Korea ($41.8k), Chinese Taipei ($13k), Japan ($3.67k), and United States ($381).

Growth In February 2024, the decrease in Knitting Machines's year-by-year exports was explained primarily by a decrease in exports to . In June 2024, the decrease in Knitting Machines's year-by-year imports was explained primarily by a decrease in imports from Vietnam ($-876 or -9.98%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (January 2020 - February 2024)$-19.5k(-35.8%)
IMPORT GROWTH (June 2023 - June 2024)$-607k(-81.1%)
MAIN DESTINATION (February 2024)

This section shows Knitting Machines'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 Knitting Machines over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$56.6k
IMPORTS (2022)$10.6M
NET TRADE (2022)-$10.5M

In 2022, Philippines exported $56.6k in Knitting Machines. The main destinations of Philippines exports on Knitting Machines were South Korea ($56.5k) and Ireland ($90).

In 2022, Philippines imported $10.6M in Knitting Machines, mainly from China ($7.98M), Chinese Taipei ($1.23M), Japan ($607k), Ireland ($256k), and Germany ($200k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Knitting Machines EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
South Korea$56.4k (49.5k%)
Ireland$90 (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Knitting Machines BY Philippines WERE (2021 - 2022):
Cambodia-$480k (-100%)
India-$162k (-100%)
Egypt-$84.3k (-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 Knitting Machines were:
China $1.28B
Japan $411M
Germany $358M
In 2022, Philippines's main importing competitors in Knitting Machines were:
India $442M
Turkey $348M
Bangladesh $239M

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Trade Value of Knitting Machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALSouth Korea+ $9.2k
TOP IMPORT POTENTIALChina+ $1.25M

Knitting Machines’s highest export potential is South Korea. With an export gap of $9.2k.   Knitting Machines’s highest import potential is China with an import gap of $1.25M.

See methodology.

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