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2023
Exports $4.8BWorld Rnk 72 / 224
Flag Rnk 3 / 21
2023
Destination $692M China
2022 - 2023
FASTEST GROWING MARKET $692MChina
2023
PRODUCT COMPLEXITY IN Mineral Products0.38Rnk 423 / 1025
2023
Imports $25.2BWorld Rnk 24 / 226
Flag Rnk 2 / 21
2023
Origin $1.01B Indonesia
2022 - 2023
FASTEST GROWING ORIGIN $1.01BChina
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $4.8B in Mineral Products, making it the 72nd largest exporter of Mineral Products in the world. At the same year, Mineral Products was the 3rd most exported product in Philippines. The main destination of Mineral Products exports from Philippines are: China ($3.34B), Japan ($535M), South Korea ($272M), Thailand ($126M), and Singapore ($116M).

The fastest growing export markets for Mineral Products of Philippines between 2022 and 2023 were China ($692M), Japan ($127M), and India ($84.1M).

Imports In 2023, Philippines imported $25.2B in Mineral Products, becoming the 24th largest importer of Mineral Products in the world. At the same year, Mineral Products was the 2nd most imported product in Philippines. Philippines imports Mineral Products primarily from: Indonesia ($4.19B), China ($3.36B), South Korea ($3.21B), Saudi Arabia ($2.27B), and Australia ($2.08B).

The fastest growing import markets in Mineral Products for Philippines between 2022 and 2023 were China ($1.01B), Australia ($897M), and Malaysia ($264M).

COMPANIES In 2023, leading companies such as Yokohama Industries (60), Michael Kors (13), and JP Boden Services (2) were at the forefront of shipping Mineral Products from Philippines to the United States.

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Mineral Products exports accounted up to $359M and imports accounted up to $1.88B, resulting in a negative trade balance of $1.52B. Between July 2023 and July 2024 the exports of Philippines'   Mineral Products have increased by $192M (114%) from $168M to $359M, while imports decreased by $-2.45M (-0.13%) from $1.88B to $1.88B.

Destinations In July 2024, Mineral Products were exported mostly to China ($231M), Indonesia ($34.5M), Japan ($32.4M), Brunei ($21.6M), and United Arab Emirates ($8.32M), and were imported mostly from China ($407M), Indonesia ($322M), South Korea ($278M), Saudi Arabia ($135M), and Singapore ($82.6M).

Growth In July 2024, the increase in Mineral Products's year-by-year exports was explained primarily by an increase in exports to Japan ($43.8M or 171%), Singapore ($38.8M or 6.02k%), and China ($6.3M or 7.11%). In July 2024, the decrease in Mineral Products's year-by-year imports was explained primarily by a decrease in imports from Chinese Taipei ($-69.2M or -85.4%), Brazil ($-38.2M or -50.4%), and Qatar ($-31.7M or -51.8%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$192M(114%)
IMPORT GROWTH (July 2023 - July 2024)$-2.45M(-0.13%)
MAIN DESTINATION (July 2024)China$231M

This section shows Mineral Products'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 Mineral Products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$4.8B
IMPORTS (2023)$25.2B
NET TRADE (2023)-$20.4B

In 2023, Philippines exported $4.8B in Mineral Products. The main destinations of Philippines exports on Mineral Products were China ($3.34B), Japan ($535M), South Korea ($272M), Thailand ($126M), and Singapore ($116M).

In 2023, Philippines imported $25.2B in Mineral Products, mainly from Indonesia ($4.19B), China ($3.36B), South Korea ($3.21B), Saudi Arabia ($2.27B), and Australia ($2.08B).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Mineral Products EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
China$692M (26.1%)
Japan$127M (31%)
India$84.1M (545%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Mineral Products BY Philippines WERE (2022 - 2023):
South Korea-$633M (-69.9%)
Singapore-$130M (-52.7%)
Thailand-$107M (-45.9%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Mineral Products were:
United States $361B
Russia $248B
Australia $240B
In 2023, Philippines's main importing competitors in Mineral Products were:
China $719B
United States $276B
India $233B

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Trade Value of Mineral Products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $67.3M
TOP IMPORT POTENTIALMalaysia+ $270M

Mineral Products’s highest export potential is Japan. With an export gap of $67.3M.   Mineral Products’s highest import potential is Malaysia with an import gap of $270M.

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