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2022
Exports $2.57BWorld Rnk 13 / 223
Flag Rnk 6 / 1127
2022
Destination $67.1M United States
2021 - 2022
FASTEST GROWING MARKET $67.1MUnited States
2022
PRODUCT COMPLEXITY IN Electrical Transformers0.65Rnk 294 / 1025
2022
Imports $941MWorld Rnk 34 / 225
Flag Rnk 29 / 1201
2022
Origin $110M China
2021 - 2022
FASTEST GROWING ORIGIN $110MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $2.57B in Electrical Transformers, making it the 13th largest exporter of Electrical Transformers in the world. At the same year, Electrical Transformers was the 6th most exported product in Philippines. The main destination of Electrical Transformers exports from Philippines are: United States ($719M), China ($253M), Hong Kong ($238M), South Korea ($157M), and Japan ($149M).

The fastest growing export markets for Electrical Transformers of Philippines between 2021 and 2022 were United States ($67.1M), South Korea ($53.2M), and United Kingdom ($48.4M).

Imports In 2022, Philippines imported $941M in Electrical Transformers, becoming the 34th largest importer of Electrical Transformers in the world. At the same year, Electrical Transformers was the 29th most imported product in Philippines. Philippines imports Electrical Transformers primarily from: China ($550M), Hong Kong ($78.3M), Japan ($62.4M), South Korea ($52.8M), and Singapore ($45.5M).

The fastest growing import markets in Electrical Transformers for Philippines between 2021 and 2022 were China ($110M), South Korea ($14.5M), and Japan ($5.43M).

COMPANIES In 2023, leading companies such as Stihl (12), HP Inc (10), and Motorola (4) were at the forefront of shipping Electrical Transformers from Philippines to the United States.

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Electrical Transformers exports accounted up to $126M and imports accounted up to $21.9M, resulting in a positive trade balance of $104M. Between June 2023 and June 2024 the exports of Philippines'   Electrical Transformers have decreased by $-11.8M (-8.54%) from $138M to $126M, while imports decreased by $-34.1M (-60.9%) from $56M to $21.9M.

Destinations In June 2024, Electrical Transformers were exported mostly to United States ($70.4M), Hong Kong ($6.73M), Vietnam ($6.34M), Japan ($5.77M), and Netherlands ($5.59M), and were imported mostly from Japan ($4.66M), India ($2.84M), United States ($2.47M), Vietnam ($2.19M), and Singapore ($2M).

Growth In June 2024, the decrease in Electrical Transformers's year-by-year exports was explained primarily by a decrease in exports to Hong Kong ($-5.57M or -57.1%), United States ($-5.11M or -9.05%), and China ($-3.62M or -25.2%). In June 2024, the decrease in Electrical Transformers's year-by-year imports was explained primarily by a decrease in imports from Chinese Taipei ($-2M or -46.6%), India ($-1.25M or -61.6%), and Japan ($-370k or -6.36%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-11.8M(-8.54%)
IMPORT GROWTH (June 2023 - June 2024)$-34.1M(-60.9%)
MAIN DESTINATION (June 2024)United States$70.4M

This section shows Electrical Transformers'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 Electrical Transformers over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$2.57B
IMPORTS (2022)$941M
NET TRADE (2022)$1.63B

In 2022, Philippines exported $2.57B in Electrical Transformers. The main destinations of Philippines exports on Electrical Transformers were United States ($719M), China ($253M), Hong Kong ($238M), South Korea ($157M), and Japan ($149M).

In 2022, Philippines imported $941M in Electrical Transformers, mainly from China ($550M), Hong Kong ($78.3M), Japan ($62.4M), South Korea ($52.8M), and Singapore ($45.5M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Electrical Transformers EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
United States$67.1M (10.3%)
South Korea$53.2M (51.1%)
United Kingdom$48.4M (698%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Electrical Transformers BY Philippines WERE (2021 - 2022):
Netherlands-$59.5M (-34%)
Russia-$34.2M (-100%)
China-$24.9M (-8.97%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Electrical Transformers were:
China $54.1B
Germany $12.2B
United States $6.63B
In 2022, Philippines's main importing competitors in Electrical Transformers were:
United States $23.5B
Germany $12.4B
China $9.37B

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Trade Value of Electrical Transformers by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $220M
TOP IMPORT POTENTIALChina+ $161M

Electrical Transformers’s highest export potential is United States. With an export gap of $220M.   Electrical Transformers’s highest import potential is China with an import gap of $161M.

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