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2022
Exports $64.1MWorld Rnk 81 / 217
Flag Rnk 148 / 1127
2022
Destination $5.48M Indonesia
2021 - 2022
FASTEST GROWING MARKET $5.48MUnited States
2022
PRODUCT COMPLEXITY IN Packaged Medicaments0.67Rnk 291 / 1025
2022
Imports $1.3BWorld Rnk 49 / 224
Flag Rnk 20 / 1201
2022
Origin $28M India
2021 - 2022
FASTEST GROWING ORIGIN $28MFrance
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $64.1M in Packaged Medicaments, making it the 81st largest exporter of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 148th most exported product in Philippines. The main destination of Packaged Medicaments exports from Philippines are: Indonesia ($7.66M), Thailand ($7.01M), Australia ($6.64M), Singapore ($5.9M), and United States ($5.67M).

The fastest growing export markets for Packaged Medicaments of Philippines between 2021 and 2022 were United States ($5.48M), Australia ($2.8M), and India ($2.67M).

Imports In 2022, Philippines imported $1.3B in Packaged Medicaments, becoming the 49th largest importer of Packaged Medicaments in the world. At the same year, Packaged Medicaments was the 20th most imported product in Philippines. Philippines imports Packaged Medicaments primarily from: India ($267M), Germany ($160M), China ($132M), Indonesia ($93.2M), and France ($77.7M).

The fastest growing import markets in Packaged Medicaments for Philippines between 2021 and 2022 were France ($28M), United States ($18.8M), and India ($16.9M).

Latest Trends

August 2024

About

Overview In August 2024 Philippines' Packaged Medicaments exports accounted up to $1.8M and imports accounted up to $138M, resulting in a negative trade balance of $136M. Between August 2023 and August 2024 the exports of Philippines'   Packaged Medicaments have decreased by $-1.96M (-52.1%) from $3.76M to $1.8M, while imports decreased by $-12.6M (-8.38%) from $151M to $138M.

Destinations In August 2024, Packaged Medicaments were exported mostly to Australia ($269k), Vietnam ($219k), Singapore ($218k), Chile ($204k), and Thailand ($190k), and were imported mostly from India ($27.8M), Germany ($26.5M), United States ($11.9M), France ($7.58M), and China ($7.39M).

Growth In August 2024, the decrease in Packaged Medicaments's year-by-year exports was explained primarily by a decrease in exports to Singapore ($-550k or -65.8%), Thailand ($-492k or -37.9%), and Australia ($-236k or -52.8%). In August 2024, the decrease in Packaged Medicaments's year-by-year imports was explained primarily by a decrease in imports from Indonesia ($-6.27M or -54.7%), China ($-6.06M or -55.9%), and United Kingdom ($-4.28M or -56.4%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-1.96M(-52.1%)
IMPORT GROWTH (August 2023 - August 2024)$-12.6M(-8.38%)
MAIN DESTINATION (August 2024)Australia$269k

This section shows Packaged Medicaments'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 Packaged Medicaments over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$64.1M
IMPORTS (2022)$1.3B
NET TRADE (2022)-$1.24B

In 2022, Philippines exported $64.1M in Packaged Medicaments. The main destinations of Philippines exports on Packaged Medicaments were Indonesia ($7.66M), Thailand ($7.01M), Australia ($6.64M), Singapore ($5.9M), and United States ($5.67M).

In 2022, Philippines imported $1.3B in Packaged Medicaments, mainly from India ($267M), Germany ($160M), China ($132M), Indonesia ($93.2M), and France ($77.7M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Packaged Medicaments EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
United States$5.48M (2.85k%)
Australia$2.8M (72.9%)
India$2.67M (132%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Packaged Medicaments BY Philippines WERE (2021 - 2022):
Thailand-$1.2M (-14.6%)
Papua New Guinea-$800k (-55.4%)
Burma-$340k (-9.42%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Packaged Medicaments were:
Germany $74.8B
Switzerland $45.4B
United States $38.2B
In 2022, Philippines's main importing competitors in Packaged Medicaments were:
United States $91.3B
Switzerland $32.9B
Germany $32B

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Trade Value of Packaged Medicaments by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $7.92M
TOP IMPORT POTENTIALIndia+ $125M

Packaged Medicaments’s highest export potential is Japan. With an export gap of $7.92M.   Packaged Medicaments’s highest import potential is India with an import gap of $125M.

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