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2022
Exports $87.1MWorld Rnk 78 / 223
Flag Rnk 51 / 96
2022
Destination $7.53M Japan
2021 - 2022
FASTEST GROWING MARKET $7.53MUnited States
2022
PRODUCT COMPLEXITY IN Pharmaceutical products1.38Rnk 75 / 1025
2022
Imports $2.13BWorld Rnk 47 / 226
Flag Rnk 14 / 96
2022
Origin $45.6M India
2021 - 2022
FASTEST GROWING ORIGIN $45.6MSpain
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $87.1M in Pharmaceutical products, making it the 78th largest exporter of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 51st most exported product in Philippines. The main destination of Pharmaceutical products exports from Philippines are: Japan ($12.5M), United States ($12.3M), Hong Kong ($7.78M), Indonesia ($7.74M), and Singapore ($7.37M).

The fastest growing export markets for Pharmaceutical products of Philippines between 2021 and 2022 were United States ($7.53M), Australia ($2.8M), and India ($2.75M).

Imports In 2022, Philippines imported $2.13B in Pharmaceutical products, becoming the 47th largest importer of Pharmaceutical products in the world. At the same year, Pharmaceutical products was the 14th most imported product in Philippines. Philippines imports Pharmaceutical products primarily from: India ($305M), Germany ($253M), United States ($243M), China ($181M), and Belgium ($145M).

The fastest growing import markets in Pharmaceutical products for Philippines between 2021 and 2022 were Spain ($45.6M), India ($22.3M), and France ($20.9M).

Latest Trends

August 2024

About

Overview In August 2024 Philippines' Pharmaceutical products exports accounted up to $1.84M and imports accounted up to $202M, resulting in a negative trade balance of $201M. Between August 2023 and August 2024 the exports of Philippines'   Pharmaceutical products have decreased by $-1.94M (-51.4%) from $3.78M to $1.84M, while imports increased by $2.3M (1.15%) from $200M to $202M.

Destinations In August 2024, Pharmaceutical products were exported mostly to Australia ($274k), Singapore ($222k), Vietnam ($219k), Chile ($204k), and Thailand ($190k), and were imported mostly from India ($43.7M), Germany ($29M), France ($22.8M), United States ($17.9M), and China ($11.1M).

Growth In August 2024, the decrease in Pharmaceutical products'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 increase in Pharmaceutical products's year-by-year imports was explained primarily by an increase in imports from Singapore ($2.11M or 73.7%), Sweden ($1.52M or 112%), and Ireland ($1.44M or 47.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-1.94M(-51.4%)
IMPORT GROWTH (August 2023 - August 2024)$2.3M(1.15%)
MAIN DESTINATION (August 2024)Australia$274k

This section shows Pharmaceutical 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 Pharmaceutical products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$87.1M
IMPORTS (2022)$2.13B
NET TRADE (2022)-$2.04B

In 2022, Philippines exported $87.1M in Pharmaceutical products. The main destinations of Philippines exports on Pharmaceutical products were Japan ($12.5M), United States ($12.3M), Hong Kong ($7.78M), Indonesia ($7.74M), and Singapore ($7.37M).

In 2022, Philippines imported $2.13B in Pharmaceutical products, mainly from India ($305M), Germany ($253M), United States ($243M), China ($181M), and Belgium ($145M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Pharmaceutical products EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
United States$7.53M (159%)
Australia$2.8M (72.3%)
India$2.75M (133%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Pharmaceutical products BY Philippines WERE (2021 - 2022):
Japan-$1.36M (-9.8%)
Thailand-$1.19M (-14.4%)
Papua New Guinea-$869k (-56.8%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Pharmaceutical products were:
Germany $125B
Switzerland $93.8B
United States $90B
In 2022, Philippines's main importing competitors in Pharmaceutical products were:
United States $168B
Germany $71.1B
Switzerland $48.5B

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Trade Value of Pharmaceutical products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $8.96M
TOP IMPORT POTENTIALIndia+ $150M

Pharmaceutical products’s highest export potential is Japan. With an export gap of $8.96M.   Pharmaceutical products’s highest import potential is India with an import gap of $150M.

See methodology.

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