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2022
Exports $513MWorld Rnk 26 / 216
Flag Rnk 30 / 1127
2022
Destination $15.7M Japan
2021 - 2022
FASTEST GROWING MARKET $15.7MMalaysia
2022
PRODUCT COMPLEXITY IN Electric Motors0.76Rnk 259 / 1025
2022
Imports $340MWorld Rnk 37 / 226
Flag Rnk 105 / 1201
2022
Origin $50.3M China
2021 - 2022
FASTEST GROWING ORIGIN $50.3MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $513M in Electric Motors, making it the 26th largest exporter of Electric Motors in the world. At the same year, Electric Motors was the 30th most exported product in Philippines. The main destination of Electric Motors exports from Philippines are: Japan ($107M), China ($101M), Malaysia ($82.9M), Chinese Taipei ($27.7M), and United States ($26.3M).

The fastest growing export markets for Electric Motors of Philippines between 2021 and 2022 were Malaysia ($15.7M), Vietnam ($14.8M), and China ($11.5M).

Imports In 2022, Philippines imported $340M in Electric Motors, becoming the 37th largest importer of Electric Motors in the world. At the same year, Electric Motors was the 105th most imported product in Philippines. Philippines imports Electric Motors primarily from: China ($148M), Thailand ($67.7M), Singapore ($22M), United States ($18.5M), and Hong Kong ($15.6M).

The fastest growing import markets in Electric Motors for Philippines between 2021 and 2022 were China ($50.3M), United States ($6.65M), and Vietnam ($5.32M).

COMPANIES In 2023, leading companies such as Robert Bosch (2) were at the forefront of shipping Electric Motors from Philippines to the United States.

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Electric Motors exports accounted up to $17.6M and imports accounted up to $19.5M, resulting in a negative trade balance of $1.82M. Between June 2023 and June 2024 the exports of Philippines'   Electric Motors have decreased by $-9.32M (-34.6%) from $27M to $17.6M, while imports decreased by $-9.25M (-32.2%) from $28.7M to $19.5M.

Destinations In June 2024, Electric Motors were exported mostly to Japan ($3.28M), China ($3.25M), Mexico ($3.14M), United States ($2.58M), and Malaysia ($2.05M), and were imported mostly from Thailand ($11.3M), Spain ($1.9M), Vietnam ($1.4M), United States ($808k), and Chinese Taipei ($722k).

Growth In June 2024, the decrease in Electric Motors's year-by-year exports was explained primarily by a decrease in exports to China ($-3.24M or -54.6%), Japan ($-1.94M or -15.6%), and Hong Kong ($-1.38M or -94%). In June 2024, the decrease in Electric Motors's year-by-year imports was explained primarily by a decrease in imports from Singapore ($-489k or -27.6%), Hong Kong ($-254k or -23.9%), and Thailand ($-209k or -3.61%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-9.32M(-34.6%)
IMPORT GROWTH (June 2023 - June 2024)$-9.25M(-32.2%)
MAIN DESTINATION (June 2024)Japan$3.28M

This section shows Electric Motors'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 Electric Motors over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$513M
IMPORTS (2022)$340M
NET TRADE (2022)$172M

In 2022, Philippines exported $513M in Electric Motors. The main destinations of Philippines exports on Electric Motors were Japan ($107M), China ($101M), Malaysia ($82.9M), Chinese Taipei ($27.7M), and United States ($26.3M).

In 2022, Philippines imported $340M in Electric Motors, mainly from China ($148M), Thailand ($67.7M), Singapore ($22M), United States ($18.5M), and Hong Kong ($15.6M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electric Motors EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Malaysia$15.7M (23.4%)
Vietnam$14.8M (155%)
China$11.5M (12.8%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Motors BY Philippines WERE (2021 - 2022):
Hong Kong-$18.1M (-61.7%)
United States-$10.2M (-28%)
Germany-$7.96M (-42.2%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Electric Motors were:
China $18.4B
Germany $8.51B
Mexico $4.62B
In 2022, Philippines's main importing competitors in Electric Motors were:
United States $12.1B
Germany $7.08B
China $4.2B

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Trade Value of Electric Motors by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $89.6M
TOP IMPORT POTENTIALChina+ $57.1M

Electric Motors’s highest export potential is China. With an export gap of $89.6M.   Electric Motors’s highest import potential is China with an import gap of $57.1M.

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