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2022
Exports $214MWorld Rnk 19 / 175
Flag Rnk 58 / 1127
2022
Destination $11.8M United States
2021 - 2022
FASTEST GROWING MARKET $11.8MSouth Korea
2022
PRODUCT COMPLEXITY IN Processed Crustaceans-1.65Rnk 967 / 1025
2022
Imports $127MWorld Rnk 26 / 224
Flag Rnk 222 / 1201
2022
Origin $8.56M China
2021 - 2022
FASTEST GROWING ORIGIN $8.56MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $214M in Processed Crustaceans, making it the 19th largest exporter of Processed Crustaceans in the world. At the same year, Processed Crustaceans was the 58th most exported product in Philippines. The main destination of Processed Crustaceans exports from Philippines are: United States ($108M), South Korea ($29.5M), Hong Kong ($18.1M), China ($14.8M), and Japan ($7.27M).

The fastest growing export markets for Processed Crustaceans of Philippines between 2021 and 2022 were South Korea ($11.8M), Vietnam ($4.11M), and Hong Kong ($2.34M).

Imports In 2022, Philippines imported $127M in Processed Crustaceans, becoming the 26th largest importer of Processed Crustaceans in the world. At the same year, Processed Crustaceans was the 222nd most imported product in Philippines. Philippines imports Processed Crustaceans primarily from: China ($115M), Hong Kong ($2.94M), South Korea ($1.41M), Thailand ($1.31M), and United States ($1.23M).

The fastest growing import markets in Processed Crustaceans for Philippines between 2021 and 2022 were China ($8.56M), Hong Kong ($2.83M), and United States ($535k).

COMPANIES In 2023, leading companies such as Wismettac Asian Foods (1) were at the forefront of shipping Processed Crustaceans from Philippines to the United States.

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Processed Crustaceans exports accounted up to $5.13M and imports accounted up to $277k, resulting in a positive trade balance of $4.85M. Between June 2023 and June 2024 the exports of Philippines'   Processed Crustaceans have decreased by $-2.92M (-36.3%) from $8.05M to $5.13M, while imports decreased by $-502k (-64.4%) from $779k to $277k.

Destinations In June 2024, Processed Crustaceans were exported mostly to United States ($4.25M), Japan ($212k), South Korea ($200k), Thailand ($135k), and United Arab Emirates ($66.1k), and were imported mostly from Vietnam ($148k), Chinese Taipei ($72.6k), Thailand ($53.8k), Japan ($1.63k), and Hong Kong ($674).

Growth In June 2024, the decrease in Processed Crustaceans's year-by-year exports was explained primarily by a decrease in exports to United States ($-9.62M or -91.1%), South Korea ($-351k or -66.2%), and United Arab Emirates ($-51.8k or -90.2%). In June 2024, the decrease in Processed Crustaceans's year-by-year imports was explained primarily by a decrease in imports from China ($-1.05M or -77%), Indonesia ($-118k or -79.4%), and Thailand ($-74.5k or -98.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-2.92M(-36.3%)
IMPORT GROWTH (June 2023 - June 2024)$-502k(-64.4%)
MAIN DESTINATION (June 2024)United States$4.25M

This section shows Processed Crustaceans'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 Processed Crustaceans over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$214M
IMPORTS (2022)$127M
NET TRADE (2022)$86.4M

In 2022, Philippines exported $214M in Processed Crustaceans. The main destinations of Philippines exports on Processed Crustaceans were United States ($108M), South Korea ($29.5M), Hong Kong ($18.1M), China ($14.8M), and Japan ($7.27M).

In 2022, Philippines imported $127M in Processed Crustaceans, mainly from China ($115M), Hong Kong ($2.94M), South Korea ($1.41M), Thailand ($1.31M), and United States ($1.23M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Processed Crustaceans EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
South Korea$11.8M (66.5%)
Vietnam$4.11M (188%)
Hong Kong$2.34M (14.9%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Processed Crustaceans BY Philippines WERE (2021 - 2022):
United States-$40.1M (-27.1%)
Indonesia-$774k (-53.3%)
Mexico-$646k (-84.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Processed Crustaceans were:
China $4.44B
Vietnam $2.42B
Indonesia $1.53B
In 2022, Philippines's main importing competitors in Processed Crustaceans were:
United States $4.38B
Japan $2.15B
China $1.76B

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Trade Value of Processed Crustaceans by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $6.46M
TOP IMPORT POTENTIALVietnam+ $2.17M

Processed Crustaceans’s highest export potential is Japan. With an export gap of $6.46M.   Processed Crustaceans’s highest import potential is Vietnam with an import gap of $2.17M.

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