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2022
Exports $135MWorld Rnk 51 / 212
Flag Rnk 88 / 1127
2022
Destination $21.5M South Korea
2021 - 2022
FASTEST GROWING MARKET $21.5MSouth Korea
2022
PRODUCT COMPLEXITY IN Scrap Iron-0.59Rnk 720 / 1025
2022
Imports $72.9MWorld Rnk 52 / 187
Flag Rnk 324 / 1201
2022
Origin $7.66M Japan
2021 - 2022
FASTEST GROWING ORIGIN $7.66MJapan
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $135M in Scrap Iron, making it the 51st largest exporter of Scrap Iron in the world. At the same year, Scrap Iron was the 88th most exported product in Philippines. The main destination of Scrap Iron exports from Philippines are: South Korea ($43.3M), India ($22.7M), Chinese Taipei ($16.1M), Japan ($16M), and Bangladesh ($12.3M).

The fastest growing export markets for Scrap Iron of Philippines between 2021 and 2022 were South Korea ($21.5M), China ($3.72M), and Bangladesh ($2.22M).

Imports In 2022, Philippines imported $72.9M in Scrap Iron, becoming the 52nd largest importer of Scrap Iron in the world. At the same year, Scrap Iron was the 324th most imported product in Philippines. Philippines imports Scrap Iron primarily from: Japan ($30.7M), United States ($23.6M), China ($4.51M), Hong Kong ($3.44M), and Chinese Taipei ($3.01M).

The fastest growing import markets in Scrap Iron for Philippines between 2021 and 2022 were Japan ($7.66M), Spain ($1.29M), and Israel ($823k).

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Scrap Iron exports accounted up to $11.2M and imports accounted up to $9.21M, resulting in a positive trade balance of $2M. Between June 2023 and June 2024 the exports of Philippines'   Scrap Iron have decreased by $-5.62M (-33.4%) from $16.8M to $11.2M, while imports increased by $6.3M (217%) from $2.91M to $9.21M.

Destinations In June 2024, Scrap Iron were exported mostly to Japan ($5.99M), South Korea ($1.84M), India ($1.26M), Chinese Taipei ($1.05M), and Bangladesh ($515k), and were imported mostly from Japan ($8.79M), Chinese Taipei ($413k), Singapore ($1.81k), United States ($361), and South Africa ($244).

Growth In June 2024, the decrease in Scrap Iron's year-by-year exports was explained primarily by a decrease in exports to South Korea ($-1.4M or -42.8%), Chinese Taipei ($-927k or -72.7%), and Malaysia ($-760k or -99.1%). In June 2024, the increase in Scrap Iron's year-by-year imports was explained primarily by an increase in imports from Japan ($3.85M or 5.45k%), United States ($748k or 109k%), and China ($18.1k or 77.3%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-5.62M(-33.4%)
IMPORT GROWTH (June 2023 - June 2024)$6.3M(217%)
MAIN DESTINATION (June 2024)Japan$5.99M

This section shows Scrap Iron'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 Scrap Iron over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$135M
IMPORTS (2022)$72.9M
NET TRADE (2022)$62.6M

In 2022, Philippines exported $135M in Scrap Iron. The main destinations of Philippines exports on Scrap Iron were South Korea ($43.3M), India ($22.7M), Chinese Taipei ($16.1M), Japan ($16M), and Bangladesh ($12.3M).

In 2022, Philippines imported $72.9M in Scrap Iron, mainly from Japan ($30.7M), United States ($23.6M), China ($4.51M), Hong Kong ($3.44M), and Chinese Taipei ($3.01M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Scrap Iron EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
South Korea$21.5M (98.2%)
China$3.72M (171%)
Bangladesh$2.22M (22%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Scrap Iron BY Philippines WERE (2021 - 2022):
Vietnam-$15.4M (-79.7%)
Pakistan-$13M (-83.4%)
Thailand-$2.33M (-30.8%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Scrap Iron were:
United States $7.92B
Germany $5.21B
United Kingdom $3.91B
In 2022, Philippines's main importing competitors in Scrap Iron were:
Turkey $8.77B
India $5.65B
Belgium $2.84B

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Trade Value of Scrap Iron by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALIndia+ $21M
TOP IMPORT POTENTIALUnited States+ $4.76M

Scrap Iron’s highest export potential is India. With an export gap of $21M.   Scrap Iron’s highest import potential is United States with an import gap of $4.76M.

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