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2022
Exports $34.2MWorld Rnk 125 / 214
Flag Rnk 205 / 1127
2022
Destination $11.9M Singapore
2021 - 2022
FASTEST GROWING MARKET $11.9MChina
2022
PRODUCT COMPLEXITY IN Refined Petroleum-0.87Rnk 795 / 1025
2022
Imports $13.9BWorld Rnk 21 / 225
Flag Rnk 2 / 1201
2022
Origin $2.86B South Korea
2021 - 2022
FASTEST GROWING ORIGIN $2.86BSouth Korea
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $34.2M in Refined Petroleum, making it the 125th largest exporter of Refined Petroleum in the world. At the same year, Refined Petroleum was the 205th most exported product in Philippines. The main destination of Refined Petroleum exports from Philippines are: Singapore ($13.3M), China ($12M), Malaysia ($6.23M), South Korea ($1.46M), and Kenya ($418k).

The fastest growing export markets for Refined Petroleum of Philippines between 2021 and 2022 were China ($11.9M), Singapore ($7.73M), and South Korea ($1.13M).

Imports In 2022, Philippines imported $13.9B in Refined Petroleum, becoming the 21st largest importer of Refined Petroleum in the world. At the same year, Refined Petroleum was the 2nd most imported product in Philippines. Philippines imports Refined Petroleum primarily from: South Korea ($4.55B), China ($2.44B), Singapore ($2.06B), Chinese Taipei ($1.16B), and Japan ($1.1B).

The fastest growing import markets in Refined Petroleum for Philippines between 2021 and 2022 were South Korea ($2.86B), Japan ($878M), and Chinese Taipei ($734M).

Latest Trends

August 2024

About

Overview In August 2024 Philippines' Refined Petroleum exports accounted up to $28M and imports accounted up to $891M, resulting in a negative trade balance of $863M. Between August 2023 and August 2024 the exports of Philippines'   Refined Petroleum have increased by $27.6M (5.71k%) from $483k to $28M, while imports decreased by $-300M (-25.1%) from $1.19B to $891M.

Destinations In August 2024, Refined Petroleum were exported mostly to United Arab Emirates ($5.63M), Qatar ($3.07M), Saudi Arabia ($2.43M), South Korea ($2.24M), and United States ($2.14M), and were imported mostly from South Korea ($338M), China ($250M), Malaysia ($98.3M), Singapore ($91M), and Qatar ($53.4M).

Growth In August 2024, the increase in Refined Petroleum's year-by-year exports was explained primarily by an increase in exports to . In August 2024, the decrease in Refined Petroleum's year-by-year imports was explained primarily by a decrease in imports from Chinese Taipei ($-69M or -85.5%), Malaysia ($-40.8M or -36.3%), and India ($-24.8M or -97.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$27.6M(5.71k%)
IMPORT GROWTH (August 2023 - August 2024)$-300M(-25.1%)
MAIN DESTINATION (August 2024)United Arab Emirates$5.63M

This section shows Refined Petroleum'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 Refined Petroleum over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$34.2M
IMPORTS (2022)$13.9B
NET TRADE (2022)-$13.8B

In 2022, Philippines exported $34.2M in Refined Petroleum. The main destinations of Philippines exports on Refined Petroleum were Singapore ($13.3M), China ($12M), Malaysia ($6.23M), South Korea ($1.46M), and Kenya ($418k).

In 2022, Philippines imported $13.9B in Refined Petroleum, mainly from South Korea ($4.55B), China ($2.44B), Singapore ($2.06B), Chinese Taipei ($1.16B), and Japan ($1.1B).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Refined Petroleum EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
China$11.9M (15.3k%)
Singapore$7.73M (139%)
South Korea$1.13M (346%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Refined Petroleum BY Philippines WERE (2021 - 2022):
New Zealand-$576k (-98.6%)
Papua New Guinea-$213k (-100%)
Australia-$145k (-93.1%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Refined Petroleum were:
United States $138B
India $86.2B
Netherlands $68.1B
In 2022, Philippines's main importing competitors in Refined Petroleum were:
United States $81.7B
Singapore $58.5B
Netherlands $51.1B

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Trade Value of Refined Petroleum by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $24.4M
TOP IMPORT POTENTIALChina+ $247M

Refined Petroleum’s highest export potential is China. With an export gap of $24.4M.   Refined Petroleum’s highest import potential is China with an import gap of $247M.

See methodology.

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