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2022
Exports $1.81MWorld Rnk 59 / 174
Flag Rnk 540 / 1127
2022
Destination $654k Denmark
2021 - 2022
FASTEST GROWING MARKET $654kDenmark
2022
PRODUCT COMPLEXITY IN Woodworking machines1.28Rnk 96 / 1025
2022
Imports $30.8MWorld Rnk 51 / 218
Flag Rnk 490 / 1201
2022
Origin $4.17MN/A
2021 - 2022
FASTEST GROWING ORIGIN $4.17MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $1.81M in Woodworking machines, making it the 59th largest exporter of Woodworking machines in the world. At the same year, Woodworking machines was the 540th most exported product in Philippines. The main destination of Woodworking machines exports from Philippines are: Denmark ($654k), Thailand ($387k), Australia ($276k), Vietnam ($221k), and Sweden ($123k).

The fastest growing export markets for Woodworking machines of Philippines between 2021 and 2022 were Denmark ($654k), Thailand ($380k), and Australia ($249k).

Imports In 2022, Philippines imported $30.8M in Woodworking machines, becoming the 51st largest importer of Woodworking machines in the world. At the same year, Woodworking machines was the 490th most imported product in Philippines. Philippines imports Woodworking machines primarily from: N/A.

The fastest growing import markets in Woodworking machines for Philippines between 2021 and 2022 were China ($4.17M), Malaysia ($1.13M), and Germany ($849k).

Latest Trends

May 2024

About

Overview In May 2024 Philippines' Woodworking machines exports accounted up to $202 and imports accounted up to $590k, resulting in a negative trade balance of $589k. Between March 2023 and May 2024 the exports of Philippines'   Woodworking machines have decreased by $-258k (-99.9%) from $258k to $202, while imports decreased by $-1.85M (-75.8%) from $2.44M to $590k.

Destinations In May 2024, Woodworking machines were exported mostly to , and were imported mostly from Chinese Taipei ($326k), Japan ($213k), Thailand ($18.3k), Germany ($10.6k), and Singapore ($6.77k).

Growth In May 2024, the decrease in Woodworking machines's year-by-year exports was explained primarily by a decrease in exports to . In June 2024, the decrease in Woodworking machines's year-by-year imports was explained primarily by a decrease in imports from Japan ($-1.87M or -99.6%), China ($-476k or -68.4%), and Hong Kong ($-128 or -25.2%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (March 2023 - May 2024)$-258k(-99.9%)
IMPORT GROWTH (June 2023 - June 2024)$-1.85M(-75.8%)
MAIN DESTINATION (May 2024)

This section shows Woodworking machines'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 Woodworking machines over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$1.81M
IMPORTS (2022)$30.8M
NET TRADE (2022)-$28.9M

In 2022, Philippines exported $1.81M in Woodworking machines. The main destinations of Philippines exports on Woodworking machines were Denmark ($654k), Thailand ($387k), Australia ($276k), Vietnam ($221k), and Sweden ($123k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Woodworking machines EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Denmark$654k (1%)
Thailand$380k (5.86k%)
Australia$249k (924%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Woodworking machines BY Philippines WERE (2021 - 2022):
Sweden-$241k (-66.3%)
China-$111k (-82.5%)
Japan-$89.8k (-97.3%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Woodworking machines were:
China $2.66B
Germany $1.99B
Italy $1.23B
In 2022, Philippines's main importing competitors in Woodworking machines were:
United States $1.74B
Germany $700M
France $424M

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Trade Value of Woodworking machines by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $164k
TOP IMPORT POTENTIALChina+ $5.18M

Woodworking machines’s highest export potential is United States. With an export gap of $164k.   Woodworking machines’s highest import potential is China with an import gap of $5.18M.

See methodology.

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