Balances in Philippines | The Observatory of Economic Complexity

About

Exports In 2022, Philippines exported $16.2M in Balances, making it the 7th largest exporter of Balances in the world. At the same year, Balances was the 288th most exported product in Philippines. The main destination of Balances exports from Philippines are: Japan ($4.6M), China ($2.32M), India ($1.74M), Brazil ($1.44M), and Germany ($1.41M).

The fastest growing export markets for Balances of Philippines between 2021 and 2022 were Japan ($1.25M), Brazil ($679k), and Vietnam ($182k).

Imports In 2022, Philippines imported $1.77M in Balances, becoming the 38th largest importer of Balances in the world. At the same year, Balances was the 956th most imported product in Philippines. Philippines imports Balances primarily from: China ($886k), Japan ($275k), Germany ($196k), Switzerland ($89.1k), and Poland ($65.2k).

The fastest growing import markets in Balances for Philippines between 2021 and 2022 were Japan ($86.8k), Switzerland ($81.2k), and Hong Kong ($44.2k).

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Balances exports accounted up to $826k and imports accounted up to $82.6k, resulting in a positive trade balance of $743k. Between June 2023 and June 2024 the exports of Philippines' Balances have decreased by $-363k (-30.5%) from $1.19M to $826k, while imports decreased by $-143k (-63.4%) from $226k to $82.6k.

Destinations In June 2024, Balances were exported mostly to Japan ($302k), India ($129k), China ($78.1k), Vietnam ($75k), and Chinese Taipei ($72k), and were imported mostly from Singapore ($30.5k), Germany ($23.6k), Japan ($13.3k), Poland ($9.93k), and Italy ($2.08k).

Growth In June 2024, the decrease in Balances's year-by-year exports was explained primarily by a decrease in exports to South Korea ($-181k or -83.4%), Brazil ($-108k or -53.6%), and Germany ($-99k or -57.7%). In June 2024, the decrease in Balances's year-by-year imports was explained primarily by a decrease in imports from China ($-123k or -71.8%), Germany ($-76.2k or -73.9%), and Hong Kong ($-47.1k or -96.9%).

Subnational Monthly Trade

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

EXPORT GROWTH (June 2023 - June 2024)$-363k(-30.5%)

IMPORT GROWTH (June 2023 - June 2024)$-143k(-63.4%)

MAIN DESTINATION (June 2024)Japan$302k

This section shows Balances'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 Balances over time.

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Historical Data

Trade Balance

Color

Trade Value

Growth

Growth (%)

Year

EXPORTS (2022)$16.2M

IMPORTS (2022)$1.77M

NET TRADE (2022)$14.5M

In 2022, Philippines exported $16.2M in Balances. The main destinations of Philippines exports on Balances were Japan ($4.6M), China ($2.32M), India ($1.74M), Brazil ($1.44M), and Germany ($1.41M).

In 2022, Philippines imported $1.77M in Balances, mainly from China ($886k), Japan ($275k), Germany ($196k), Switzerland ($89.1k), and Poland ($65.2k).

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