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2023
Exports $364kWorld Rnk 64 / 196
Flag Rnk 704 / 1123
2023
Destination $127k Japan
2022 - 2023
FASTEST GROWING MARKET $127kJapan
2023
PRODUCT COMPLEXITY IN Wrenches1.5Rnk 44 / 1025
2023
Imports $13.4MWorld Rnk 51 / 221
Flag Rnk 602 / 1202
2023
Origin $1.13M China
2022 - 2023
FASTEST GROWING ORIGIN $1.13MChina
2023
ECONOMIC COMPLEXITY of Philippines0.64Rnk 40 / 132

About

Exports In 2023, Philippines exported $364k in Wrenches, making it the 64th largest exporter of Wrenches in the world. At the same year, Wrenches was the 704th most exported product in Philippines. The main destination of Wrenches exports from Philippines are: Japan ($180k), United States ($83.1k), Germany ($34.7k), Oman ($13k), and New Zealand ($9.89k).

The fastest growing export markets for Wrenches of Philippines between 2022 and 2023 were Japan ($127k), Germany ($26.4k), and Oman ($10.9k).

Imports In 2023, Philippines imported $13.4M in Wrenches, becoming the 51st largest importer of Wrenches in the world. At the same year, Wrenches was the 602nd most imported product in Philippines. Philippines imports Wrenches primarily from: China ($6.94M), Japan ($2.43M), Chinese Taipei ($1.26M), United States ($706k), and Singapore ($438k).

The fastest growing import markets in Wrenches for Philippines between 2022 and 2023 were China ($1.13M), Japan ($349k), and United States ($254k).

Latest Trends

July 2024

About

Overview In July 2024 Philippines' Wrenches exports accounted up to $45k and imports accounted up to $1.36M, resulting in a negative trade balance of $1.32M. Between July 2023 and July 2024 the exports of Philippines'   Wrenches have increased by $40.3k (861%) from $4.68k to $45k, while imports increased by $61.9k (4.76%) from $1.3M to $1.36M.

Destinations In July 2024, Wrenches were exported mostly to India ($42.3k), Japan ($2.45k), United States ($180), and Singapore ($57), and were imported mostly from Japan ($554k), China ($340k), Chinese Taipei ($168k), United States ($140k), and Vietnam ($63.3k).

Growth In July 2024, the increase in Wrenches's year-by-year exports was explained primarily by an increase in exports to . In July 2024, the increase in Wrenches's year-by-year imports was explained primarily by an increase in imports from Chinese Taipei ($56.4k or 232%), United States ($53.1k or 234%), and United Kingdom ($8.98k or 724%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (July 2023 - July 2024)$40.3k(861%)
IMPORT GROWTH (July 2023 - July 2024)$61.9k(4.76%)
MAIN DESTINATION (July 2024)India$42.3k

This section shows Wrenches'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 Wrenches over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$364k
IMPORTS (2023)$13.4M
NET TRADE (2023)-$13.1M

In 2023, Philippines exported $364k in Wrenches. The main destinations of Philippines exports on Wrenches were Japan ($180k), United States ($83.1k), Germany ($34.7k), Oman ($13k), and New Zealand ($9.89k).

In 2023, Philippines imported $13.4M in Wrenches, mainly from China ($6.94M), Japan ($2.43M), Chinese Taipei ($1.26M), United States ($706k), and Singapore ($438k).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Wrenches EXPORT MARKETS FOR Philippines WERE (2022 - 2023):
Japan$127k (241%)
Germany$26.4k (317%)
Oman$10.9k (513%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Wrenches BY Philippines WERE (2022 - 2023):
Singapore-$67k (-91%)
United States-$38k (-31.4%)
Chinese Taipei-$16.1k (-89.2%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Philippines's main exporting competitors in Wrenches were:
China $1.21B
Chinese Taipei $1.01B
Germany $332M
In 2023, Philippines's main importing competitors in Wrenches were:
United States $778M
Germany $289M
France $156M

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Trade Value of Wrenches by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $130k
TOP IMPORT POTENTIALIndia+ $682k

Wrenches’s highest export potential is United States. With an export gap of $130k.   Wrenches’s highest import potential is India with an import gap of $682k.

See methodology.

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