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2022
Exports $3.38MWorld Rnk 56 / 195
Flag Rnk 451 / 1127
2022
Destination $209k China
2021 - 2022
FASTEST GROWING MARKET $209kThailand
2022
PRODUCT COMPLEXITY IN Lubricating Products1.61Rnk 36 / 1025
2022
Imports $53MWorld Rnk 46 / 224
Flag Rnk 375 / 1201
2022
Origin $2.5M Japan
2021 - 2022
FASTEST GROWING ORIGIN $2.5MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $3.38M in Lubricating Products, making it the 56th largest exporter of Lubricating Products in the world. At the same year, Lubricating Products was the 451st most exported product in Philippines. The main destination of Lubricating Products exports from Philippines are: China ($852k), Thailand ($493k), Vietnam ($424k), Malaysia ($370k), and Indonesia ($345k).

The fastest growing export markets for Lubricating Products of Philippines between 2021 and 2022 were Thailand ($209k), Brunei ($73.9k), and Australia ($66.5k).

Imports In 2022, Philippines imported $53M in Lubricating Products, becoming the 46th largest importer of Lubricating Products in the world. At the same year, Lubricating Products was the 375th most imported product in Philippines. Philippines imports Lubricating Products primarily from: Japan ($14.9M), China ($9.53M), United States ($8.42M), Singapore ($4.17M), and Germany ($3.22M).

The fastest growing import markets in Lubricating Products for Philippines between 2021 and 2022 were China ($2.5M), United States ($1.72M), and Malaysia ($1.53M).

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Lubricating Products exports accounted up to $104k and imports accounted up to $2.61M, resulting in a negative trade balance of $2.51M. Between June 2023 and June 2024 the exports of Philippines'   Lubricating Products have decreased by $-315k (-75.2%) from $419k to $104k, while imports decreased by $-1.16M (-30.7%) from $3.77M to $2.61M.

Destinations In June 2024, Lubricating Products were exported mostly to Malaysia ($44.6k), Chinese Taipei ($30.3k), Indonesia ($13.1k), Papua New Guinea ($9.05k), and Hong Kong ($6.88k), and were imported mostly from Japan ($664k), United States ($519k), Singapore ($343k), Germany ($320k), and France ($200k).

Growth In June 2024, the decrease in Lubricating Products's year-by-year exports was explained primarily by a decrease in exports to Malaysia ($-7.37k or -19.3%). In June 2024, the decrease in Lubricating Products's year-by-year imports was explained primarily by a decrease in imports from Japan ($-1.72M or -62.5%), India ($-20.6k or -61.9%), and Australia ($-18.8k or -78.7%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-315k(-75.2%)
IMPORT GROWTH (June 2023 - June 2024)$-1.16M(-30.7%)
MAIN DESTINATION (June 2024)Malaysia$44.6k

This section shows Lubricating Products'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 Lubricating Products over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$3.38M
IMPORTS (2022)$53M
NET TRADE (2022)-$49.6M

In 2022, Philippines exported $3.38M in Lubricating Products. The main destinations of Philippines exports on Lubricating Products were China ($852k), Thailand ($493k), Vietnam ($424k), Malaysia ($370k), and Indonesia ($345k).

In 2022, Philippines imported $53M in Lubricating Products, mainly from Japan ($14.9M), China ($9.53M), United States ($8.42M), Singapore ($4.17M), and Germany ($3.22M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Lubricating Products EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Thailand$209k (73.9%)
Brunei$73.9k (42.1%)
Australia$66.5k (129%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Lubricating Products BY Philippines WERE (2021 - 2022):
Sierra Leone-$995k (-100%)
Malaysia-$129k (-25.8%)
Pakistan-$84.2k (-93.4%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Lubricating Products were:
Germany $2.32B
United States $1.94B
Japan $1.24B
In 2022, Philippines's main importing competitors in Lubricating Products were:
China $1.71B
Germany $676M
Mexico $433M

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Trade Value of Lubricating Products by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndonesia+ $205k
TOP IMPORT POTENTIALGermany+ $2.51M

Lubricating Products’s highest export potential is Indonesia. With an export gap of $205k.   Lubricating Products’s highest import potential is Germany with an import gap of $2.51M.

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