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2022
Exports $255MWorld Rnk 41 / 224
Flag Rnk 47 / 1127
2022
Destination $21.7M Japan
2021 - 2022
FASTEST GROWING MARKET $21.7MUnited States
2022
PRODUCT COMPLEXITY IN Medical Instruments0.76Rnk 260 / 1025
2022
Imports $358MWorld Rnk 52 / 225
Flag Rnk 99 / 1201
2022
Origin $9.8M China
2021 - 2022
FASTEST GROWING ORIGIN $9.8MNetherlands
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $255M in Medical Instruments, making it the 41st largest exporter of Medical Instruments in the world. At the same year, Medical Instruments was the 47th most exported product in Philippines. The main destination of Medical Instruments exports from Philippines are: Japan ($85.6M), United States ($61.7M), South Korea ($14.3M), Indonesia ($10.7M), and Thailand ($10.4M).

The fastest growing export markets for Medical Instruments of Philippines between 2021 and 2022 were United States ($21.7M), Hong Kong ($6.15M), and South Korea ($4.17M).

Imports In 2022, Philippines imported $358M in Medical Instruments, becoming the 52nd largest importer of Medical Instruments in the world. At the same year, Medical Instruments was the 99th most imported product in Philippines. Philippines imports Medical Instruments primarily from: China ($82.7M), Singapore ($43.2M), United States ($32M), Japan ($31M), and Germany ($26M).

The fastest growing import markets in Medical Instruments for Philippines between 2021 and 2022 were Netherlands ($9.8M), Italy ($7.25M), and South Korea ($7.09M).

COMPANIES In 2023, leading companies such as Stihl (4) were at the forefront of shipping Medical Instruments from Philippines to the United States.

Latest Trends

August 2024

About

Overview In August 2024 Philippines' Medical Instruments exports accounted up to $11.9M and imports accounted up to $30.7M, resulting in a negative trade balance of $18.8M. Between August 2023 and August 2024 the exports of Philippines'   Medical Instruments have decreased by $-9.22M (-43.7%) from $21.1M to $11.9M, while imports increased by $2.99M (10.8%) from $27.7M to $30.7M.

Destinations In August 2024, Medical Instruments were exported mostly to Japan ($3.81M), South Korea ($1.75M), United States ($1.49M), Thailand ($1.42M), and Indonesia ($945k), and were imported mostly from China ($7.6M), United States ($3.27M), Germany ($2.83M), Malaysia ($2.64M), and Japan ($2.2M).

Growth In August 2024, the decrease in Medical Instruments's year-by-year exports was explained primarily by a decrease in exports to United States ($-1.72M or -31%), Belgium ($-788k or -49.4%), and Japan ($-746k or -13.2%). In August 2024, the increase in Medical Instruments's year-by-year imports was explained primarily by an increase in imports from Germany ($1.93M or 120%), Japan ($1.63M or 90.8%), and Costa Rica ($927k or 328%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-9.22M(-43.7%)
IMPORT GROWTH (August 2023 - August 2024)$2.99M(10.8%)
MAIN DESTINATION (August 2024)Japan$3.81M

This section shows Medical Instruments'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 Medical Instruments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$255M
IMPORTS (2022)$358M
NET TRADE (2022)-$103M

In 2022, Philippines exported $255M in Medical Instruments. The main destinations of Philippines exports on Medical Instruments were Japan ($85.6M), United States ($61.7M), South Korea ($14.3M), Indonesia ($10.7M), and Thailand ($10.4M).

In 2022, Philippines imported $358M in Medical Instruments, mainly from China ($82.7M), Singapore ($43.2M), United States ($32M), Japan ($31M), and Germany ($26M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Medical Instruments EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
United States$21.7M (54.1%)
Hong Kong$6.15M (159%)
South Korea$4.17M (41.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Medical Instruments BY Philippines WERE (2021 - 2022):
India-$2.97M (-75.9%)
Malaysia-$2.53M (-43.4%)
Germany-$2.23M (-32.1%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Medical Instruments were:
United States $33.3B
Germany $17.6B
Mexico $14.1B
In 2022, Philippines's main importing competitors in Medical Instruments were:
United States $34.7B
Netherlands $12.9B
Germany $11.4B

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Trade Value of Medical Instruments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $50.4M
TOP IMPORT POTENTIALChina+ $42.2M

Medical Instruments’s highest export potential is United States. With an export gap of $50.4M.   Medical Instruments’s highest import potential is China with an import gap of $42.2M.

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