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2023
Exports $1.14MWorld Rnk 27 / 114
Flag Rnk 562 / 1123
2023
Destination $33.5k Switzerland
2022 - 2023
FASTEST GROWING MARKET $33.5kChina
2023
PRODUCT COMPLEXITY IN Watch Movements1.63Rnk 29 / 1025
2023
Imports $5.69MWorld Rnk 17 / 175
Flag Rnk 773 / 1202
2023
Origin $661k Japan
2022 - 2023
FASTEST GROWING ORIGIN $661kJapan
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $1.14M in Watch Movements, making it the 27th largest exporter of Watch Movements in the world. At the same year, Watch Movements was the 562nd most exported product in Philippines. The main destination of Watch Movements exports from Philippines are: Switzerland ($600k), Hong Kong ($336k), Brazil ($151k), China ($35.6k), and Japan ($12.4k).

The fastest growing export markets for Watch Movements of Philippines between 2022 and 2023 were China ($33.5k), Japan ($4.41k), and Saudi Arabia ($1.22k).

Imports In 2023, Philippines imported $5.69M in Watch Movements, becoming the 17th largest importer of Watch Movements in the world. At the same year, Watch Movements was the 773rd most imported product in Philippines. Philippines imports Watch Movements primarily from: Japan ($3.05M), China ($1.03M), Hong Kong ($831k), Switzerland ($706k), and United States ($61.5k).

The fastest growing import markets in Watch Movements for Philippines between 2022 and 2023 were Japan ($661k), China ($302k), and United States ($37.2k).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Watch Movements exports accounted up to $8.8k and imports accounted up to $15.7k, resulting in a negative trade balance of $6.91k. Between July 2023 and July 2024 the exports of Philippines'   Watch Movements have decreased by $-67k (-88.4%) from $75.8k to $8.8k, while imports increased by $2.84k (22.1%) from $12.9k to $15.7k.

Destinations In July 2024, Watch Movements were exported mostly to Hong Kong ($6.2k), Brazil ($783), France ($372), Netherlands ($336), and Thailand ($317), and were imported mostly from Switzerland ($13.3k), Hong Kong ($1.78k), Spain ($518), and China ($100).

Growth In July 2024, the decrease in Watch Movements's year-by-year exports was explained primarily by a decrease in exports to Hong Kong ($-12.1k or -98%). In July 2024, the increase in Watch Movements's year-by-year imports was explained primarily by an increase in imports from Switzerland ($4.81k or 1.27k%) and Japan ($659 or 153%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$-67k(-88.4%)
IMPORT GROWTH (July 2023 - July 2024)$2.84k(22.1%)
MAIN DESTINATION (July 2024)Hong Kong$6.2k

This section shows Watch Movements'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 Watch Movements over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$1.14M
IMPORTS (2023)$5.69M
NET TRADE (2023)-$4.54M

In 2023, Philippines exported $1.14M in Watch Movements. The main destinations of Philippines exports on Watch Movements were Switzerland ($600k), Hong Kong ($336k), Brazil ($151k), China ($35.6k), and Japan ($12.4k).

In 2023, Philippines imported $5.69M in Watch Movements, mainly from Japan ($3.05M), China ($1.03M), Hong Kong ($831k), Switzerland ($706k), and United States ($61.5k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Watch Movements EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
China$33.5k (1.58k%)
Japan$4.41k (55%)
Saudi Arabia$1.22k (1%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Watch Movements BY Philippines WERE (2022 - 2023):
Singapore-$213k (-99.4%)
Hong Kong-$201k (-37.5%)
Netherlands-$51.1k (-98.7%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Watch Movements were:
Japan $343M
Switzerland $191M
China $92.6M
In 2023, Philippines's main importing competitors in Watch Movements were:
Hong Kong $289M
China $161M
Japan $65.2M

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Trade Value of Watch Movements by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALHong Kong+ $93k
TOP IMPORT POTENTIALJapan+ $224k

Watch Movements’s highest export potential is Hong Kong. With an export gap of $93k.   Watch Movements’s highest import potential is Japan with an import gap of $224k.

See methodology.

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