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2023
Exports $2.73MWorld Rnk 74 / 198
Flag Rnk 469 / 1123
2023
Destination $374k Singapore
2022 - 2023
FASTEST GROWING MARKET $374kSingapore
2023
PRODUCT COMPLEXITY IN Spices-1.59Rnk 959 / 1025
2023
Imports $6.23MWorld Rnk 69 / 224
Flag Rnk 755 / 1202
2023
Origin $327k India
2022 - 2023
FASTEST GROWING ORIGIN $327kGermany
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $2.73M in Spices, making it the 74th largest exporter of Spices in the world. At the same year, Spices was the 469th most exported product in Philippines. The main destination of Spices exports from Philippines are: Singapore ($664k), Saudi Arabia ($553k), Canada ($491k), United States ($407k), and United Arab Emirates ($182k).

The fastest growing export markets for Spices of Philippines between 2022 and 2023 were Singapore ($374k), Italy ($64k), and Kuwait ($48.5k).

Imports In 2023, Philippines imported $6.23M in Spices, becoming the 69th largest importer of Spices in the world. At the same year, Spices was the 755th most imported product in Philippines. Philippines imports Spices primarily from: India ($1.74M), Turkey ($1.03M), Vietnam ($907k), China ($843k), and Germany ($520k).

The fastest growing import markets in Spices for Philippines between 2022 and 2023 were Germany ($327k), India ($243k), and Vietnam ($198k).

COMPANIES In 2023, leading companies such as Walong Marketing (1) were at the forefront of shipping Spices from Philippines to the United States.

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Spices exports accounted up to $17.3k and imports accounted up to $1.61M, resulting in a negative trade balance of $1.59M. Between July 2023 and July 2024 the exports of Philippines'   Spices have decreased by $-49.2k (-73.9%) from $66.6k to $17.3k, while imports increased by $1.39M (635%) from $219k to $1.61M.

Destinations In July 2024, Spices were exported mostly to United Kingdom ($8.44k), Canada ($4.37k), Netherlands ($1.84k), United States ($1.82k), and Kuwait ($738), and were imported mostly from China ($1.05M), India ($287k), Turkey ($156k), Vietnam ($29k), and Pakistan ($28.6k).

Growth In July 2024, the decrease in Spices's year-by-year exports was explained primarily by a decrease in exports to United States ($-3.44k or -52.1%) and United Arab Emirates ($-943 or -39.9%). In July 2024, the increase in Spices's year-by-year imports was explained primarily by an increase in imports from Turkey ($17.1k or 16.2%), Japan ($2.38k or 274%), and Germany ($406 or 12.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-49.2k(-73.9%)
IMPORT GROWTH (July 2023 - July 2024)$1.39M(635%)
MAIN DESTINATION (July 2024)United Kingdom$8.44k

This section shows Spices'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 Spices over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$2.73M
IMPORTS (2023)$6.23M
NET TRADE (2023)-$3.5M

In 2023, Philippines exported $2.73M in Spices. The main destinations of Philippines exports on Spices were Singapore ($664k), Saudi Arabia ($553k), Canada ($491k), United States ($407k), and United Arab Emirates ($182k).

In 2023, Philippines imported $6.23M in Spices, mainly from India ($1.74M), Turkey ($1.03M), Vietnam ($907k), China ($843k), and Germany ($520k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Spices EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
Singapore$374k (129%)
Italy$64k (474%)
Kuwait$48.5k (383%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Spices BY Philippines WERE (2022 - 2023):
Saudi Arabia-$218k (-28.2%)
Canada-$192k (-28.1%)
Qatar-$145k (-73.2%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Spices were:
China $641M
India $509M
Germany $172M
In 2023, Philippines's main importing competitors in Spices were:
United States $422M
Netherlands $241M
Germany $209M

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Trade Value of Spices by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $344k
TOP IMPORT POTENTIALIndia+ $1.36M

Spices’s highest export potential is United States. With an export gap of $344k.   Spices’s highest import potential is India with an import gap of $1.36M.

See methodology.

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