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2022
Exports $13.3MWorld Rnk 37 / 159
Flag Rnk 302 / 1127
2022
Destination $2.96M China
2021 - 2022
FASTEST GROWING MARKET $2.96MChina
2022
PRODUCT COMPLEXITY IN Electric Furnaces1.31Rnk 93 / 1025
2022
Imports $48.8MWorld Rnk 31 / 209
Flag Rnk 387 / 1201
2022
Origin $5.12M Japan
2021 - 2022
FASTEST GROWING ORIGIN $5.12MJapan
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $13.3M in Electric Furnaces, making it the 37th largest exporter of Electric Furnaces in the world. At the same year, Electric Furnaces was the 302nd most exported product in Philippines. The main destination of Electric Furnaces exports from Philippines are: China ($8.32M), Singapore ($1.27M), South Korea ($971k), Thailand ($707k), and United States ($550k).

The fastest growing export markets for Electric Furnaces of Philippines between 2021 and 2022 were China ($2.96M), Singapore ($1.09M), and South Korea ($786k).

Imports In 2022, Philippines imported $48.8M in Electric Furnaces, becoming the 31st largest importer of Electric Furnaces in the world. At the same year, Electric Furnaces was the 387th most imported product in Philippines. Philippines imports Electric Furnaces primarily from: Japan ($12.6M), South Korea ($11.7M), China ($10.1M), United States ($3.82M), and Italy ($2.07M).

The fastest growing import markets in Electric Furnaces for Philippines between 2021 and 2022 were Japan ($5.12M), South Korea ($3.73M), and China ($2.2M).

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Electric Furnaces exports accounted up to $117k and imports accounted up to $1.74M, resulting in a negative trade balance of $1.62M. Between June 2023 and June 2024 the exports of Philippines'   Electric Furnaces have increased by $98.3k (521%) from $18.9k to $117k, while imports decreased by $-587k (-25.2%) from $2.33M to $1.74M.

Destinations In June 2024, Electric Furnaces were exported mostly to Japan ($64.4k), Thailand ($25.5k), China ($12.9k), Malaysia ($12.7k), and Indonesia ($1.78k), and were imported mostly from Japan ($781k), United States ($315k), South Korea ($280k), Chinese Taipei ($86.5k), and South Africa ($64.1k).

Growth In June 2024, the increase in Electric Furnaces's year-by-year exports was explained primarily by an increase in exports to United States ($5.85k or 3.9k%). In June 2024, the decrease in Electric Furnaces's year-by-year imports was explained primarily by a decrease in imports from South Korea ($-896k or -96.8%), Japan ($-211k or -22.3%), and Italy ($-133k or -98.9%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$98.3k(521%)
IMPORT GROWTH (June 2023 - June 2024)$-587k(-25.2%)
MAIN DESTINATION (June 2024)Japan$64.4k

This section shows Electric Furnaces'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 Furnaces over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$13.3M
IMPORTS (2022)$48.8M
NET TRADE (2022)-$35.5M

In 2022, Philippines exported $13.3M in Electric Furnaces. The main destinations of Philippines exports on Electric Furnaces were China ($8.32M), Singapore ($1.27M), South Korea ($971k), Thailand ($707k), and United States ($550k).

In 2022, Philippines imported $48.8M in Electric Furnaces, mainly from Japan ($12.6M), South Korea ($11.7M), China ($10.1M), United States ($3.82M), and Italy ($2.07M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electric Furnaces EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
China$2.96M (55.3%)
Singapore$1.09M (578%)
South Korea$786k (424%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electric Furnaces BY Philippines WERE (2021 - 2022):
Thailand-$935k (-57%)
Malaysia-$652k (-91.2%)
Egypt-$188k (-100%)
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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 Furnaces were:
China $1.22B
Germany $882M
Italy $722M
In 2022, Philippines's main importing competitors in Electric Furnaces were:
China $759M
United States $660M
Indonesia $306M

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Trade Value of Electric Furnaces by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $2.99M
TOP IMPORT POTENTIALChina+ $4.37M

Electric Furnaces’s highest export potential is China. With an export gap of $2.99M.   Electric Furnaces’s highest import potential is China with an import gap of $4.37M.

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