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2023
Exports $1.43BWorld Rnk 52 / 226
Flag Rnk 11 / 21
2023
Destination $3.7M United States
2022 - 2023
FASTEST GROWING MARKET $3.7MIndia
2023
PRODUCT COMPLEXITY IN Textiles1.39Rnk 63 / 1025
2023
Imports $3.43BWorld Rnk 46 / 226
Flag Rnk 10 / 21
2023
Origin $40.6M China
2022 - 2023
FASTEST GROWING ORIGIN $40.6MChina
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $1.43B in Textiles, making it the 52nd largest exporter of Textiles in the world. At the same year, Textiles was the 11th most exported product in Philippines. The main destination of Textiles exports from Philippines are: United States ($563M), Japan ($145M), China ($99.3M), Canada ($64.4M), and United Kingdom ($58.5M).

The fastest growing export markets for Textiles of Philippines between 2022 and 2023 were India ($3.7M), Indonesia ($3.45M), and Burma ($3.21M).

Imports In 2023, Philippines imported $3.43B in Textiles, becoming the 46th largest importer of Textiles in the world. At the same year, Textiles was the 10th most imported product in Philippines. Philippines imports Textiles primarily from: China ($2.16B), Vietnam ($205M), Japan ($168M), South Korea ($121M), and Chinese Taipei ($104M).

The fastest growing import markets in Textiles for Philippines between 2022 and 2023 were China ($40.6M), Japan ($6.94M), and Vietnam ($5.57M).

COMPANIES In 2023, leading companies such as JP Boden Services (167), Adidas (126), and Banana Republic (82) were at the forefront of shipping Textiles from Philippines to the United States.

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Textiles exports accounted up to $80.2M and imports accounted up to $177M, resulting in a negative trade balance of $96.9M. Between July 2023 and July 2024 the exports of Philippines'   Textiles have increased by $6.75M (9.19%) from $73.5M to $80.2M, while imports decreased by $-2.52M (-1.4%) from $180M to $177M.

Destinations In July 2024, Textiles were exported mostly to United States ($39.7M), Japan ($7.76M), China ($6.97M), South Korea ($4.65M), and United Kingdom ($3.3M), and were imported mostly from China ($92.2M), Vietnam ($18.2M), South Korea ($10.5M), Japan ($10.1M), and Indonesia ($5.54M).

Growth In July 2024, the increase in Textiles's year-by-year exports was explained primarily by an increase in exports to Italy ($1.31M or 134%), Burma ($751k or 777%), and Thailand ($554k or 51.3%). In July 2024, the decrease in Textiles's year-by-year imports was explained primarily by a decrease in imports from China ($-12.1M or -12.4%), Hong Kong ($-5.73M or -52.5%), and South Korea ($-2.54M or -17.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$6.75M(9.19%)
IMPORT GROWTH (July 2023 - July 2024)$-2.52M(-1.4%)
MAIN DESTINATION (July 2024)United States$39.7M

This section shows Textiles'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 Textiles over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$1.43B
IMPORTS (2023)$3.43B
NET TRADE (2023)-$1.99B

In 2023, Philippines exported $1.43B in Textiles. The main destinations of Philippines exports on Textiles were United States ($563M), Japan ($145M), China ($99.3M), Canada ($64.4M), and United Kingdom ($58.5M).

In 2023, Philippines imported $3.43B in Textiles, mainly from China ($2.16B), Vietnam ($205M), Japan ($168M), South Korea ($121M), and Chinese Taipei ($104M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Textiles EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
India$3.7M (38.1%)
Indonesia$3.45M (33.6%)
Burma$3.21M (64.5%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Textiles BY Philippines WERE (2022 - 2023):
United States-$303M (-35%)
South Korea-$79.2M (-58.4%)
Canada-$38.8M (-37.6%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Textiles were:
China $261B
Bangladesh $48.9B
Vietnam $42.1B
In 2023, Philippines's main importing competitors in Textiles were:
United States $122B
Germany $54B
France $33.4B

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Trade Value of Textiles by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $253M
TOP IMPORT POTENTIALVietnam+ $133M

Textiles’s highest export potential is United States. With an export gap of $253M.   Textiles’s highest import potential is Vietnam with an import gap of $133M.

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