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2022
Exports $7.01MWorld Rnk 50 / 145
Flag Rnk 378 / 1127
2022
Destination $1.65M China
2021 - 2022
FASTEST GROWING MARKET $1.65MChina
2022
PRODUCT COMPLEXITY IN Synthetic Rubber0.49Rnk 369 / 1025
2022
Imports $100MWorld Rnk 39 / 209
Flag Rnk 268 / 1201
2022
Origin $8.3M Japan
2021 - 2022
FASTEST GROWING ORIGIN $8.3MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $7.01M in Synthetic Rubber, making it the 50th largest exporter of Synthetic Rubber in the world. At the same year, Synthetic Rubber was the 378th most exported product in Philippines. The main destination of Synthetic Rubber exports from Philippines are: China ($6.64M), Japan ($291k), Thailand ($77.8k), France ($2.36k), and South Korea ($900).

The fastest growing export markets for Synthetic Rubber of Philippines between 2021 and 2022 were China ($1.65M), Thailand ($69.9k), and Japan ($20.1k).

Imports In 2022, Philippines imported $100M in Synthetic Rubber, becoming the 39th largest importer of Synthetic Rubber in the world. At the same year, Synthetic Rubber was the 268th most imported product in Philippines. Philippines imports Synthetic Rubber primarily from: Japan ($23.1M), Chinese Taipei ($19M), China ($18.3M), South Korea ($17.9M), and Singapore ($13.5M).

The fastest growing import markets in Synthetic Rubber for Philippines between 2021 and 2022 were China ($8.3M), South Korea ($3.63M), and Singapore ($3.49M).

Latest Trends

October 2024

About

Overview In October 2024 Philippines' Synthetic Rubber exports accounted up to $962k and imports accounted up to $8.06M, resulting in a negative trade balance of $7.09M. Between October 2023 and October 2024 the exports of Philippines'   Synthetic Rubber have decreased by $-1.77M (-64.8%) from $2.73M to $962k, while imports increased by $277k (3.56%) from $7.78M to $8.06M.

Destinations In October 2024, Synthetic Rubber were exported mostly to China ($938k), Japan ($14k), and Hong Kong ($9.68k), and were imported mostly from Japan ($2.1M), South Korea ($1.58M), Singapore ($1.58M), China ($1.54M), and Chinese Taipei ($669k).

Growth In October 2024, the decrease in Synthetic Rubber's year-by-year exports was explained primarily by a decrease in exports to China ($-67.9k or -22.4%) and Japan ($-178 or -0.65%). In October 2024, the increase in Synthetic Rubber's year-by-year imports was explained primarily by an increase in imports from Singapore ($922k or 137%), United States ($121k or 1.67k%), and Thailand ($3.81k or 10.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (October 2023 - October 2024)$-1.77M(-64.8%)
IMPORT GROWTH (October 2023 - October 2024)$277k(3.56%)
MAIN DESTINATION (October 2024)China$938k

This section shows Synthetic Rubber'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 Synthetic Rubber over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$7.01M
IMPORTS (2022)$100M
NET TRADE (2022)-$93M

In 2022, Philippines exported $7.01M in Synthetic Rubber. The main destinations of Philippines exports on Synthetic Rubber were China ($6.64M), Japan ($291k), Thailand ($77.8k), France ($2.36k), and South Korea ($900).

In 2022, Philippines imported $100M in Synthetic Rubber, mainly from Japan ($23.1M), Chinese Taipei ($19M), China ($18.3M), South Korea ($17.9M), and Singapore ($13.5M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Synthetic Rubber EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
China$1.65M (33.1%)
Thailand$69.9k (885%)
Japan$20.1k (7.45%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Synthetic Rubber BY Philippines WERE (2021 - 2022):
Vietnam-$75k (-100%)
Italy-$6.56k (-100%)
Ireland-$5.41k (-100%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Synthetic Rubber were:
South Korea $3.3B
Thailand $3.04B
United States $2.98B
In 2022, Philippines's main importing competitors in Synthetic Rubber were:
China $8.77B
United States $1.96B
India $1.33B

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Trade Value of Synthetic Rubber by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $10.4M
TOP IMPORT POTENTIALChina+ $6.74M

Synthetic Rubber’s highest export potential is China. With an export gap of $10.4M.   Synthetic Rubber’s highest import potential is China with an import gap of $6.74M.

See methodology.

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