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2022
Exports $164kWorld Rnk 63 / 184
Flag Rnk 789 / 1127
falsefalse South Korea
2021 - 2022
FASTEST GROWING MARKETfalseSouth Korea
2022
PRODUCT COMPLEXITY IN Tool Sets0.9Rnk 208 / 1025
2022
Imports $14.5MWorld Rnk 24 / 218
Flag Rnk 651 / 1201
2021 - 2022
FASTEST GROWING ORIGINfalseN/A
2022
ECONOMIC COMPLEXITY of Philippines0.71Rnk 37 / 133

About

Exports In 2022, Philippines exported $164k in Tool Sets, making it the 63rd largest exporter of Tool Sets in the world. At the same year, Tool Sets was the 789th most exported product in Philippines. The main destination of Tool Sets exports from Philippines are: South Korea ($52.8k), United States ($42.7k), China ($25k), Hong Kong ($8.36k), and Japan ($7.65k).

The fastest growing export markets for Tool Sets of Philippines between 2021 and 2022 were South Korea ($51.4k), China ($24.1k), and Hong Kong ($8.16k).

Imports In 2022, Philippines imported $14.5M in Tool Sets, becoming the 24th largest importer of Tool Sets in the world. At the same year, Tool Sets was the 651st most imported product in Philippines. Philippines imports Tool Sets primarily from: China ($8.87M), Turkey ($3.27M), Chinese Taipei ($695k), South Korea ($606k), and United States ($252k).

Latest Trends

June 2024

About

Overview In June 2024 Philippines' Tool Sets exports accounted up to $9.18k and imports accounted up to $380k, resulting in a negative trade balance of $371k. Between June 2023 and June 2024 the exports of Philippines'   Tool Sets have decreased by $-60.7k (-86.9%) from $69.9k to $9.18k, while imports increased by $23.4k (6.57%) from $357k to $380k.

Destinations In June 2024, Tool Sets were exported mostly to Hong Kong ($4.6k), China ($3.73k), and Japan ($853), and were imported mostly from Japan ($205k), United States ($83.6k), Spain ($34.4k), Singapore ($20.4k), and Germany ($10.9k).

Growth In June 2024, the decrease in Tool Sets's year-by-year exports was explained primarily by a decrease in exports to Japan ($-160 or -12.3%). In June 2024, the increase in Tool Sets's year-by-year imports was explained primarily by an increase in imports from United States ($14.8k or 107%), South Korea ($9.67k or 1.82k%), and Germany ($5.37k or 768%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (June 2023 - June 2024)$-60.7k(-86.9%)
IMPORT GROWTH (June 2023 - June 2024)$23.4k(6.57%)
MAIN DESTINATION (June 2024)Hong Kong$4.6k

This section shows Tool Sets'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 Tool Sets over time.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$164k
IMPORTS (2022)$14.5M
NET TRADE (2022)-$14.3M

In 2022, Philippines exported $164k in Tool Sets. The main destinations of Philippines exports on Tool Sets were South Korea ($52.8k), United States ($42.7k), China ($25k), Hong Kong ($8.36k), and Japan ($7.65k).

In 2022, Philippines imported $14.5M in Tool Sets, mainly from China ($8.87M), Turkey ($3.27M), Chinese Taipei ($695k), South Korea ($606k), and United States ($252k).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Tool Sets EXPORT MARKETS FOR Philippines WERE (2021 - 2022):
South Korea$51.4k (3.72k%)
China$24.1k (2.69k%)
Hong Kong$8.16k (4.23k%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Tool Sets BY Philippines WERE (2021 - 2022):
Malaysia-$105k (-99.7%)
United States-$80.7k (-65.4%)
Japan-$74k (-90.6%)
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Change in Exports by Market (2021 - 2022)

Market Concentration

View
Flow
Type
In 2022, Philippines's main exporting competitors in Tool Sets were:
China $777M
Chinese Taipei $222M
Germany $143M
In 2022, Philippines's main importing competitors in Tool Sets were:
Germany $157M
United States $150M
Netherlands $104M

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Trade Value of Tool Sets by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALChina+ $17.7k
TOP IMPORT POTENTIALChina+ $1.02M

Tool Sets’s highest export potential is China. With an export gap of $17.7k.   Tool Sets’s highest import potential is China with an import gap of $1.02M.

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