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2022
Exports $751kWorld Rnk 61 / 157
Flag Rnk 629 / 1127
2022
Destination $326k Hong Kong
2021 - 2022
FASTEST GROWING MARKET $326kHong Kong
2022
PRODUCT COMPLEXITY IN Silicone1.72Rnk 20 / 1025
2022
Imports $65.9MWorld Rnk 32 / 215
Flag Rnk 343 / 1201
2022
Origin $6.76M Japan
2021 - 2022
FASTEST GROWING ORIGIN $6.76MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $751k in Silicone, making it the 61st largest exporter of Silicone in the world. At the same year, Silicone was the 629th most exported product in Philippines. The main destination of Silicone exports from Philippines are: Hong Kong ($363k), Japan ($235k), Vietnam ($51.5k), Malaysia ($29.5k), and South Africa ($20.9k).

The fastest growing export markets for Silicone of Philippines between 2021 and 2022 were Hong Kong ($326k), Japan ($120k), and Vietnam ($35.2k).

Imports In 2022, Philippines imported $65.9M in Silicone, becoming the 32nd largest importer of Silicone in the world. At the same year, Silicone was the 343rd most imported product in Philippines. Philippines imports Silicone primarily from: Japan ($18.6M), China ($18.4M), South Korea ($10M), India ($6.74M), and United States ($4.35M).

The fastest growing import markets in Silicone for Philippines between 2021 and 2022 were China ($6.76M), South Korea ($5.3M), and India ($4.57M).

Latest Trends

August 2024

About

Overview In August 2024 Philippines' Silicone exports accounted up to $78.7k and imports accounted up to $4.66M, resulting in a negative trade balance of $4.58M. Between August 2023 and August 2024 the exports of Philippines'   Silicone have decreased by $-133k (-62.9%) from $212k to $78.7k, while imports increased by $1.51M (48%) from $3.15M to $4.66M.

Destinations In August 2024, Silicone were exported mostly to Japan ($65.1k), Indonesia ($12.1k), Vietnam ($1.19k), and Hong Kong ($281), and were imported mostly from China ($2.21M), Japan ($1.18M), Thailand ($308k), South Korea ($260k), and United States ($163k).

Growth In August 2024, the decrease in Silicone's year-by-year exports was explained primarily by a decrease in exports to Japan ($-19.5k or -27.8%). In August 2024, the increase in Silicone's year-by-year imports was explained primarily by an increase in imports from China ($209k or 22.9%), Germany ($138k or 3.2k%), and Hong Kong ($85.4k or 652%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (August 2023 - August 2024)$-133k(-62.9%)
IMPORT GROWTH (August 2023 - August 2024)$1.51M(48%)
MAIN DESTINATION (August 2024)Japan$65.1k

This section shows Silicone'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 Silicone over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$751k
IMPORTS (2022)$65.9M
NET TRADE (2022)-$65.1M

In 2022, Philippines exported $751k in Silicone. The main destinations of Philippines exports on Silicone were Hong Kong ($363k), Japan ($235k), Vietnam ($51.5k), Malaysia ($29.5k), and South Africa ($20.9k).

In 2022, Philippines imported $65.9M in Silicone, mainly from Japan ($18.6M), China ($18.4M), South Korea ($10M), India ($6.74M), and United States ($4.35M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Silicone EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Hong Kong$326k (891%)
Japan$120k (104%)
Vietnam$35.2k (215%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Silicone BY Philippines WERE (2021 - 2022):
Malaysia-$518k (-94.6%)
Nauru-$179k (-100%)
China-$99.7k (-95.4%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Silicone were:
China $2.2B
Germany $2.07B
United States $1.55B
In 2022, Philippines's main importing competitors in Silicone were:
United States $1.2B
China $1B
South Korea $600M

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Trade Value of Silicone by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALJapan+ $71.2k
TOP IMPORT POTENTIALChina+ $6.85M

Silicone’s highest export potential is Japan. With an export gap of $71.2k.   Silicone’s highest import potential is China with an import gap of $6.85M.

See methodology.

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