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2023
Exports $1.57BWorld Rnk 54 / 226
Flag Rnk 10 / 21
2023
Destination $20.6M United States
2022 - 2023
FASTEST GROWING MARKET $20.6MChinese Taipei
2023
PRODUCT COMPLEXITY IN Plastics and Rubbers1.66Rnk 27 / 1025
2023
Imports $5.56BWorld Rnk 38 / 226
Flag Rnk 8 / 21
2023
Origin $13.6M China
2022 - 2023
FASTEST GROWING ORIGIN $13.6MGermany
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $1.57B in Plastics and Rubbers, making it the 54th largest exporter of Plastics and Rubbers in the world. At the same year, Plastics and Rubbers was the 10th most exported product in Philippines. The main destination of Plastics and Rubbers exports from Philippines are: United States ($359M), Japan ($301M), China ($181M), Malaysia ($124M), and Indonesia ($81.1M).

The fastest growing export markets for Plastics and Rubbers of Philippines between 2022 and 2023 were Chinese Taipei ($20.6M), Indonesia ($12.5M), and India ($4.48M).

Imports In 2023, Philippines imported $5.56B in Plastics and Rubbers, becoming the 38th largest importer of Plastics and Rubbers in the world. At the same year, Plastics and Rubbers was the 8th most imported product in Philippines. Philippines imports Plastics and Rubbers primarily from: China ($2.09B), Japan ($711M), Thailand ($550M), Malaysia ($372M), and South Korea ($323M).

The fastest growing import markets in Plastics and Rubbers for Philippines between 2022 and 2023 were Germany ($13.6M), Russia ($3.15M), and France ($2.76M).

COMPANIES In 2023, leading companies such as Yokohama Industries (4), Amazon (4), and Electrolux (3) were at the forefront of shipping Plastics and Rubbers from Philippines to the United States.

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Plastics and Rubbers exports accounted up to $154M and imports accounted up to $487M, resulting in a negative trade balance of $333M. Between July 2023 and July 2024 the exports of Philippines'   Plastics and Rubbers have increased by $20.9M (15.7%) from $133M to $154M, while imports increased by $69.3M (16.6%) from $418M to $487M.

Destinations In July 2024, Plastics and Rubbers were exported mostly to Japan ($54.2M), United States ($29.8M), China ($14.9M), Malaysia ($10.6M), and Germany ($5.26M), and were imported mostly from China ($176M), Japan ($67.9M), Thailand ($48.1M), Malaysia ($32.9M), and South Korea ($32.7M).

Growth In July 2024, the increase in Plastics and Rubbers's year-by-year exports was explained primarily by an increase in exports to Japan ($1.87M or 3.84%), Indonesia ($1.44M or 41.9%), and United States ($1.41M or 5.48%). In July 2024, the increase in Plastics and Rubbers's year-by-year imports was explained primarily by an increase in imports from China ($10.6M or 10.3%), United States ($4.67M or 29.5%), and Vietnam ($4.41M or 56.1%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$20.9M(15.7%)
IMPORT GROWTH (July 2023 - July 2024)$69.3M(16.6%)
MAIN DESTINATION (July 2024)Japan$54.2M

This section shows Plastics and Rubbers'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 Plastics and Rubbers over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$1.57B
IMPORTS (2023)$5.56B
NET TRADE (2023)-$3.98B

In 2023, Philippines exported $1.57B in Plastics and Rubbers. The main destinations of Philippines exports on Plastics and Rubbers were United States ($359M), Japan ($301M), China ($181M), Malaysia ($124M), and Indonesia ($81.1M).

In 2023, Philippines imported $5.56B in Plastics and Rubbers, mainly from China ($2.09B), Japan ($711M), Thailand ($550M), Malaysia ($372M), and South Korea ($323M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Plastics and Rubbers EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
Chinese Taipei$20.6M (40.2%)
Indonesia$12.5M (18.3%)
India$4.48M (55.1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Plastics and Rubbers BY Philippines WERE (2022 - 2023):
United States-$61M (-14.5%)
Malaysia-$52.5M (-29.7%)
Japan-$31M (-9.35%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Plastics and Rubbers were:
China $159B
United States $104B
Germany $96.9B
In 2023, Philippines's main importing competitors in Plastics and Rubbers were:
United States $114B
China $79.7B
Germany $66.3B

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Trade Value of Plastics and Rubbers by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $148M
TOP IMPORT POTENTIALChina+ $373M

Plastics and Rubbers’s highest export potential is United States. With an export gap of $148M.   Plastics and Rubbers’s highest import potential is China with an import gap of $373M.

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