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2023
Exports $52.1MWorld Rnk 33 / 150
Flag Rnk 162 / 1123
2023
Destination $19.5M India
2022 - 2023
FASTEST GROWING MARKET $19.5MIndia
2023
PRODUCT COMPLEXITY IN Palm Oil-2.25Rnk 1010 / 1025
2023
Imports $859MWorld Rnk 12 / 206
Flag Rnk 25 / 1202
2023
Origin $91.8k Indonesia
2022 - 2023
FASTEST GROWING ORIGIN $91.8kBurma
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $52.1M in Palm Oil, making it the 33rd largest exporter of Palm Oil in the world. At the same year, Palm Oil was the 162nd most exported product in Philippines. The main destination of Palm Oil exports from Philippines are: India ($32.3M), Malaysia ($7.61M), Portugal ($5.75M), Cameroon ($3.72M), and Republic of the Congo ($1.47M).

The fastest growing export markets for Palm Oil of Philippines between 2022 and 2023 were India ($19.5M), Portugal ($5.03M), and Cameroon ($3.72M).

Imports In 2023, Philippines imported $859M in Palm Oil, becoming the 12th largest importer of Palm Oil in the world. At the same year, Palm Oil was the 25th most imported product in Philippines. Philippines imports Palm Oil primarily from: Indonesia ($446M), Malaysia ($412M), Singapore ($272k), Burma ($91.8k), and Thailand ($12.8k).

The fastest growing import markets in Palm Oil for Philippines between 2022 and 2023 were Burma ($91.8k) and Thailand ($12.8k).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Palm Oil exports accounted up to $852k and imports accounted up to $57M, resulting in a negative trade balance of $56.1M. Between July 2023 and July 2024 the exports of Philippines'   Palm Oil have decreased by $-5.49M (-86.6%) from $6.34M to $852k, while imports decreased by $-17.2M (-23.2%) from $74.1M to $57M.

Destinations In July 2024, Palm Oil were exported mostly to China ($441k), India ($389k), Pakistan ($17.9k), Hong Kong ($2.09k), and Macau ($2.09k), and were imported mostly from Malaysia ($41.6M), Indonesia ($15.2M), and Singapore ($152k).

Growth In July 2024, the decrease in Palm Oil's year-by-year exports was explained primarily by a decrease in exports to . In July 2024, the decrease in Palm Oil's year-by-year imports was explained primarily by a decrease in imports from Indonesia ($-7.82M or -21.4%) and Malaysia ($-1.99M or -4.69%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-5.49M(-86.6%)
IMPORT GROWTH (July 2023 - July 2024)$-17.2M(-23.2%)
MAIN DESTINATION (July 2024)China$441k

This section shows Palm Oil'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 Palm Oil over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$52.1M
IMPORTS (2023)$859M
NET TRADE (2023)-$807M

In 2023, Philippines exported $52.1M in Palm Oil. The main destinations of Philippines exports on Palm Oil were India ($32.3M), Malaysia ($7.61M), Portugal ($5.75M), Cameroon ($3.72M), and Republic of the Congo ($1.47M).

In 2023, Philippines imported $859M in Palm Oil, mainly from Indonesia ($446M), Malaysia ($412M), Singapore ($272k), Burma ($91.8k), and Thailand ($12.8k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Palm Oil EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
India$19.5M (151%)
Portugal$5.03M (700%)
Cameroon$3.72M (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Palm Oil BY Philippines WERE (2022 - 2023):
Singapore-$17.9M (-100%)
Kenya-$4.1M (-100%)
Spain-$3.25M (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Palm Oil were:
Indonesia $24.8B
Malaysia $14B
Netherlands $1.12B
In 2023, Philippines's main importing competitors in Palm Oil were:
India $8.7B
China $4.85B
Pakistan $2.86B

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Trade Value of Palm Oil by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $13.9M
TOP IMPORT POTENTIALIndonesia+ $57.1M

Palm Oil’s highest export potential is India. With an export gap of $13.9M.   Palm Oil’s highest import potential is Indonesia with an import gap of $57.1M.

See methodology.

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