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2022
Exports $779kWorld Rnk 57 / 203
Flag Rnk 627 / 1127
2022
Destination $45.7k Japan
2021 - 2022
FASTEST GROWING MARKET $45.7kNetherlands
2022
PRODUCT COMPLEXITY IN Hand Tools0.83Rnk 235 / 1025
2022
Imports $19.1MWorld Rnk 35 / 220
Flag Rnk 586 / 1201
2022
Origin $2.14M China
2021 - 2022
FASTEST GROWING ORIGIN $2.14MChina
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $779k in Hand Tools, making it the 57th largest exporter of Hand Tools in the world. At the same year, Hand Tools was the 627th most exported product in Philippines. The main destination of Hand Tools exports from Philippines are: Japan ($389k), United States ($103k), United Kingdom ($93k), Netherlands ($46.5k), and China ($28.5k).

The fastest growing export markets for Hand Tools of Philippines between 2021 and 2022 were Netherlands ($45.7k), United Kingdom ($17.1k), and Hong Kong ($16.2k).

Imports In 2022, Philippines imported $19.1M in Hand Tools, becoming the 35th largest importer of Hand Tools in the world. At the same year, Hand Tools was the 586th most imported product in Philippines. Philippines imports Hand Tools primarily from: China ($14.3M), United States ($1.05M), Germany ($793k), Singapore ($667k), and Chinese Taipei ($612k).

The fastest growing import markets in Hand Tools for Philippines between 2021 and 2022 were China ($2.14M), United States ($515k), and Germany ($325k).

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Hand Tools exports accounted up to $25.9k and imports accounted up to $344k, resulting in a negative trade balance of $318k. Between June 2023 and June 2024 the exports of Philippines'   Hand Tools have decreased by $-119k (-82.1%) from $144k to $25.9k, while imports decreased by $-674k (-66.2%) from $1.02M to $344k.

Destinations In June 2024, Hand Tools were exported mostly to Hong Kong ($23.4k), Vietnam ($1.58k), China ($669), and Japan ($198), and were imported mostly from Japan ($155k), United States ($84.9k), Singapore ($25.3k), South Korea ($18k), and Chinese Taipei ($16.5k).

Growth In June 2024, the decrease in Hand Tools's year-by-year exports was explained primarily by a decrease in exports to Japan ($-48.8k or -40.3%). In June 2024, the decrease in Hand Tools's year-by-year imports was explained primarily by a decrease in imports from South Korea ($-7.17k or -21.6%), Chinese Taipei ($-3.86k or -19.2%), and Netherlands ($-2.55k or -78.5%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-119k(-82.1%)
IMPORT GROWTH (June 2023 - June 2024)$-674k(-66.2%)
MAIN DESTINATION (June 2024)Hong Kong$23.4k

This section shows Hand Tools'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 Hand Tools over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$779k
IMPORTS (2022)$19.1M
NET TRADE (2022)-$18.3M

In 2022, Philippines exported $779k in Hand Tools. The main destinations of Philippines exports on Hand Tools were Japan ($389k), United States ($103k), United Kingdom ($93k), Netherlands ($46.5k), and China ($28.5k).

In 2022, Philippines imported $19.1M in Hand Tools, mainly from China ($14.3M), United States ($1.05M), Germany ($793k), Singapore ($667k), and Chinese Taipei ($612k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Hand Tools EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
Netherlands$45.7k (6.33k%)
United Kingdom$17.1k (22.5%)
Hong Kong$16.2k (8.26k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Hand Tools BY Philippines WERE (2021 - 2022):
Japan-$417k (-51.7%)
Germany-$26.6k (-52%)
United States-$22.8k (-18.1%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Hand Tools were:
China $1.12B
Germany $462M
Chinese Taipei $202M
In 2022, Philippines's main importing competitors in Hand Tools were:
United States $552M
Germany $197M
France $121M

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Trade Value of Hand Tools by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $161k
TOP IMPORT POTENTIALChina+ $937k

Hand Tools’s highest export potential is United States. With an export gap of $161k.   Hand Tools’s highest import potential is China with an import gap of $937k.

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