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2022
Exports $67.6BWorld Rnk 18 / 226
Flag Rnk 1 / 21
2022
Destination $1.28B Hong Kong
2021 - 2022
FASTEST GROWING MARKET $1.28BUnited States
2022
PRODUCT COMPLEXITY IN Machines2.21Rnk 2 / 1025
2022
Imports $47BWorld Rnk 32 / 226
Flag Rnk 1 / 21
2022
Origin $688M China
2021 - 2022
FASTEST GROWING ORIGIN $688MSouth Korea
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $67.6B in Machines, making it the 18th 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: Hong Kong ($11.1B), United States ($10.1B), China ($9.51B), Singapore ($6.25B), and Japan ($5.21B).

The fastest growing export markets for Machines of Philippines between 2021 and 2022 were United States ($1.28B), Hong Kong ($858M), and China ($782M).

Imports In 2022, Philippines imported $47B in Machines, becoming the 32nd 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 ($14.4B), South Korea ($5.07B), Japan ($4.93B), Chinese Taipei ($4.64B), and Singapore ($4.27B).

The fastest growing import markets in Machines for Philippines between 2021 and 2022 were South Korea ($688M), Chinese Taipei ($678M), and Singapore ($548M).

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

August 2024

About

Overview In August 2024 Philippines' Machines exports accounted up to $3.42B and imports accounted up to $2.65B, resulting in a positive trade balance of $776M. Between August 2023 and August 2024 the exports of Philippines'   Machines have decreased by $-223M (-6.12%) from $3.65B to $3.42B, while imports increased by $197M (8.02%) from $2.45B to $2.65B.

Destinations In August 2024, Machines were exported mostly to Hong Kong ($670M), United States ($668M), Japan ($393M), China ($339M), and Netherlands ($167M), and were imported mostly from China ($801M), Japan ($397M), United States ($215M), Singapore ($196M), and South Korea ($172M).

Growth In August 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 August 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 (August 2023 - August 2024)$-223M(-6.12%)
IMPORT GROWTH (August 2023 - August 2024)$197M(8.02%)
MAIN DESTINATION (August 2024)Hong Kong$670M

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 (2022)$67.6B
IMPORTS (2022)$47B
NET TRADE (2022)$20.6B

In 2022, Philippines exported $67.6B in Machines. The main destinations of Philippines exports on Machines were Hong Kong ($11.1B), United States ($10.1B), China ($9.51B), Singapore ($6.25B), and Japan ($5.21B).

In 2022, Philippines imported $47B in Machines, mainly from China ($14.4B), South Korea ($5.07B), Japan ($4.93B), Chinese Taipei ($4.64B), and Singapore ($4.27B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Machines EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
United States$1.28B (14.6%)
Hong Kong$858M (8.34%)
China$782M (8.97%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Machines BY Philippines WERE (2021 - 2022):
Russia-$332M (-97.2%)
Finland-$105M (-66.9%)
Czechia-$95.8M (-23.2%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Machines were:
China $1.72T
United States $421B
Germany $421B
In 2022, Philippines's main importing competitors in Machines were:
United States $916B
China $577B
Hong Kong $417B

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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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