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2023
Exports $123MWorld Rnk 54 / 207
Flag Rnk 93 / 1123
2023
Destination $11.2M India
2022 - 2023
FASTEST GROWING MARKET $11.2MIndia
2023
PRODUCT COMPLEXITY IN Scrap Iron-0.57Rnk 726 / 1025
2023
Imports $63MWorld Rnk 54 / 177
Flag Rnk 291 / 1202
2023
Origin $30.8M Japan
2022 - 2023
FASTEST GROWING ORIGIN $30.8MJapan
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $123M in Scrap Iron, making it the 54th largest exporter of Scrap Iron in the world. At the same year, Scrap Iron was the 93rd most exported product in Philippines. The main destination of Scrap Iron exports from Philippines are: India ($35.1M), South Korea ($25M), Chinese Taipei ($17.3M), Japan ($14.2M), and Bangladesh ($9.04M).

The fastest growing export markets for Scrap Iron of Philippines between 2022 and 2023 were India ($11.2M), China ($1.58M), and Chinese Taipei ($1.26M).

Imports In 2023, Philippines imported $63M in Scrap Iron, becoming the 54th largest importer of Scrap Iron in the world. At the same year, Scrap Iron was the 291st most imported product in Philippines. Philippines imports Scrap Iron primarily from: Japan ($46.7M), Chinese Taipei ($4.13M), United States ($2.67M), China ($2.6M), and Spain ($2.23M).

The fastest growing import markets in Scrap Iron for Philippines between 2022 and 2023 were Japan ($30.8M), Poland ($1.58M), and Thailand ($491k).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Scrap Iron exports accounted up to $15.1M and imports accounted up to $7.34M, resulting in a positive trade balance of $7.78M. Between July 2023 and July 2024 the exports of Philippines'   Scrap Iron have increased by $2.83M (23.1%) from $12.3M to $15.1M, while imports increased by $3.42M (87.4%) from $3.91M to $7.34M.

Destinations In July 2024, Scrap Iron were exported mostly to Japan ($7.89M), India ($2.34M), Chinese Taipei ($1.34M), South Korea ($1.19M), and Thailand ($981k), and were imported mostly from Japan ($6.48M), China ($615k), Chinese Taipei ($239k), and Vietnam ($2.57k).

Growth In July 2024, the increase in Scrap Iron's year-by-year exports was explained primarily by an increase in exports to China ($608k or 1.03k%), United Kingdom ($357k or 6.97k%), and India ($262k or 22.8%). In July 2024, the increase in Scrap Iron's year-by-year imports was explained primarily by an increase in imports from Japan ($3.85M or 5.45k%), United States ($748k or 109k%), and China ($18.1k or 77.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$2.83M(23.1%)
IMPORT GROWTH (July 2023 - July 2024)$3.42M(87.4%)
MAIN DESTINATION (July 2024)Japan$7.89M

This section shows Scrap Iron'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 Scrap Iron over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$123M
IMPORTS (2023)$63M
NET TRADE (2023)$60.3M

In 2023, Philippines exported $123M in Scrap Iron. The main destinations of Philippines exports on Scrap Iron were India ($35.1M), South Korea ($25M), Chinese Taipei ($17.3M), Japan ($14.2M), and Bangladesh ($9.04M).

In 2023, Philippines imported $63M in Scrap Iron, mainly from Japan ($46.7M), Chinese Taipei ($4.13M), United States ($2.67M), China ($2.6M), and Spain ($2.23M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Scrap Iron EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
India$11.2M (46.9%)
China$1.58M (25.6%)
Chinese Taipei$1.26M (7.82%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Iron BY Philippines WERE (2022 - 2023):
South Korea-$20.6M (-45.2%)
Vietnam-$15.9M (-87.8%)
Thailand-$6.8M (-61.8%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Scrap Iron were:
United States $6.91B
Germany $4.54B
United Kingdom $3.15B
In 2023, Philippines's main importing competitors in Scrap Iron were:
Turkey $7.59B
India $6.63B
Italy $2.59B

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Trade Value of Scrap Iron by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $21M
TOP IMPORT POTENTIALUnited States+ $4.76M

Scrap Iron’s highest export potential is India. With an export gap of $21M.   Scrap Iron’s highest import potential is United States with an import gap of $4.76M.

See methodology.

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