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2023
Exports $64.7BWorld Rnk 19 / 226
Flag Rnk 1 / 21
2023
Destination $224M China
2022 - 2023
FASTEST GROWING MARKET $224MIndia
2023
PRODUCT COMPLEXITY IN Machines2.12Rnk 2 / 1025
2023
Imports $38.6BWorld Rnk 34 / 226
Flag Rnk 1 / 21
2023
Origin $311M China
2022 - 2023
FASTEST GROWING ORIGIN $311MUnited States
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $64.7B in Machines, making it the 19th largest exporter of Machines in the world. At the same year, Machines was the 1st most exported product in Philippines. The main destination of Machines exports from Philippines are: China ($12B), Hong Kong ($9.87B), United States ($8.48B), Japan ($5.24B), and Germany ($4.21B).

The fastest growing export markets for Machines of Philippines between 2022 and 2023 were India ($224M), Israel ($102M), and United Arab Emirates ($96.1M).

Imports In 2023, Philippines imported $38.6B in Machines, becoming the 34th largest importer of Machines in the world. At the same year, Machines was the 1st most imported product in Philippines. Philippines imports Machines primarily from: China ($10.5B), Japan ($4.87B), Chinese Taipei ($3.53B), South Korea ($3.41B), and United States ($3.14B).

The fastest growing import markets in Machines for Philippines between 2022 and 2023 were United States ($311M), Germany ($170M), and Malaysia ($111M).

COMPANIES In 2023, leading companies such as Yokohama Industries (196), ABB Motors and Mechanical (196), and Stihl (151) were at the forefront of shipping Machines from Philippines to the United States.

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Machines exports accounted up to $3.13B and imports accounted up to $2.85B, resulting in a positive trade balance of $275M. Between July 2023 and July 2024 the exports of Philippines'   Machines have decreased by $-473M (-13.1%) from $3.6B to $3.13B, while imports increased by $275M (10.6%) from $2.58B to $2.85B.

Destinations In July 2024, Machines were exported mostly to United States ($599M), Hong Kong ($534M), Japan ($394M), China ($333M), and Chinese Taipei ($167M), and were imported mostly from China ($960M), Japan ($403M), Singapore ($230M), United States ($203M), and South Korea ($156M).

Growth In July 2024, the decrease in Machines's year-by-year exports was explained primarily by a decrease in exports to Hong Kong ($-193M or -31.2%), Singapore ($-104M or -46.7%), and Japan ($-67.5M or -14.9%). In July 2024, the increase in Machines's year-by-year imports was explained primarily by an increase in imports from United States ($50.5M or 29.4%), Malaysia ($27.4M or 40%), and United Kingdom ($24.5M or 152%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-473M(-13.1%)
IMPORT GROWTH (July 2023 - July 2024)$275M(10.6%)
MAIN DESTINATION (July 2024)United States$599M

This section shows 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 Machines over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$64.7B
IMPORTS (2023)$38.6B
NET TRADE (2023)$26B

In 2023, Philippines exported $64.7B in Machines. The main destinations of Philippines exports on Machines were China ($12B), Hong Kong ($9.87B), United States ($8.48B), Japan ($5.24B), and Germany ($4.21B).

In 2023, Philippines imported $38.6B in Machines, mainly from China ($10.5B), Japan ($4.87B), Chinese Taipei ($3.53B), South Korea ($3.41B), and United States ($3.14B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Machines EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
India$224M (55.7%)
Israel$102M (108%)
United Arab Emirates$96.1M (36.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Machines BY Philippines WERE (2022 - 2023):
Singapore-$2.6B (-38.3%)
China-$2.51B (-17.3%)
Hong Kong-$1.91B (-16.2%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Machines were:
China $1.63T
Germany $430B
United States $412B
In 2023, Philippines's main importing competitors in Machines were:
United States $911B
China $521B
Hong Kong $407B

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Trade Value of Machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $6.82B
TOP IMPORT POTENTIALChina+ $4.87B

Machines’s highest export potential is China. With an export gap of $6.82B.   Machines’s highest import potential is China with an import gap of $4.87B.

See methodology.

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