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2023
Exports $19MWorld Rnk 41 / 142
Flag Rnk 253 / 1123
2023
Destination $7.24M China
2022 - 2023
FASTEST GROWING MARKET $7.24MChina
2023
PRODUCT COMPLEXITY IN Synthetic Rubber0.45Rnk 383 / 1025
2023
Imports $87.7MWorld Rnk 39 / 205
Flag Rnk 232 / 1202
2023
Origin $4.44M South Korea
2022 - 2023
FASTEST GROWING ORIGIN $4.44MSouth Korea
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $19M in Synthetic Rubber, making it the 41st largest exporter of Synthetic Rubber in the world. At the same year, Synthetic Rubber was the 253rd most exported product in Philippines. The main destination of Synthetic Rubber exports from Philippines are: China ($18.7M), Japan ($243k), Malaysia ($115k), India ($10.9k), and Thailand ($5.79k).

The fastest growing export markets for Synthetic Rubber of Philippines between 2022 and 2023 were China ($7.24M), Malaysia ($115k), and India ($10.9k).

Imports In 2023, Philippines imported $87.7M in Synthetic Rubber, becoming the 39th largest importer of Synthetic Rubber in the world. At the same year, Synthetic Rubber was the 232nd most imported product in Philippines. Philippines imports Synthetic Rubber primarily from: South Korea ($21M), Japan ($20.3M), Chinese Taipei ($16.7M), China ($13.1M), and Singapore ($9.04M).

The fastest growing import markets in Synthetic Rubber for Philippines between 2022 and 2023 were South Korea ($4.44M), Russia ($879k), and Samoa ($724k).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Synthetic Rubber exports accounted up to $1.69M and imports accounted up to $8.54M, resulting in a negative trade balance of $6.85M. Between July 2023 and July 2024 the exports of Philippines'   Synthetic Rubber have increased by $233k (16.1%) from $1.45M to $1.69M, while imports increased by $1.45M (20.5%) from $7.08M to $8.54M.

Destinations In July 2024, Synthetic Rubber were exported mostly to China ($1.68M) and Japan ($7.24k), and were imported mostly from China ($2.17M), Japan ($1.73M), Chinese Taipei ($1.41M), South Korea ($1.19M), and Singapore ($909k).

Growth In July 2024, the increase in Synthetic Rubber's year-by-year exports was explained primarily by an increase in exports to . In July 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 (July 2023 - July 2024)$233k(16.1%)
IMPORT GROWTH (July 2023 - July 2024)$1.45M(20.5%)
MAIN DESTINATION (July 2024)China$1.68M

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 (2023)$19M
IMPORTS (2023)$87.7M
NET TRADE (2023)-$68.7M

In 2023, Philippines exported $19M in Synthetic Rubber. The main destinations of Philippines exports on Synthetic Rubber were China ($18.7M), Japan ($243k), Malaysia ($115k), India ($10.9k), and Thailand ($5.79k).

In 2023, Philippines imported $87.7M in Synthetic Rubber, mainly from South Korea ($21M), Japan ($20.3M), Chinese Taipei ($16.7M), China ($13.1M), and Singapore ($9.04M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Synthetic Rubber EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
China$7.24M (63.4%)
Malaysia$115k (1%)
India$10.9k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Synthetic Rubber BY Philippines WERE (2022 - 2023):
Thailand-$74.2k (-92.8%)
Japan-$47.9k (-16.5%)
France-$2.36k (-100%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Synthetic Rubber were:
Thailand $2.72B
South Korea $2.64B
United States $2.44B
In 2023, Philippines's main importing competitors in Synthetic Rubber were:
China $8.02B
United States $1.43B
Thailand $1.19B

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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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