Nickel & copper are among the top exports of Philippines

 The Philippines has fine reserves of nickel and copper. The Philippines lies on the leading nickel and copper exporters globally. The Philippines is the world's biggest exporter of nickel. Apart from electronics, electrical equipment and seafood, nickel and copper are the most exported items of the country. 

Amid rising interest in the EV sector, the demand for nickel is constantly rising. The Philippines is the most prominent market for nickel exports. According to the Philippines import export data, the overall nickel exports of the country were estimated to be around $1.8 billion in the last fiscal year. 

The highest amount of increase in the Philippines nickel exports was recorded during September month which was 20.6% and estimated to be $365 million. China was the top destination for Philippines nickel exports responsible for over 55% share.

Whereas, Japan was responsible for 43% of the Philippines overall nickel exports. The fastest growing markets for Philippines nickel exports were the United States, Belgium, South Korea, Indonesia, Taiwan and Thailand. 

Taganito Hpal Nickel Corporation was the leading nickel export company from the Philippines accounting for 40% of the country's overall nickel exports and recorded to be $706 million. Platinum Group Metals, Carrascal Nickel Corporation and Agata Mining Ventures were the leading nickel import export companies from the Philippines.

In terms of nickel articles exports, Philippines exports recorded to be around $712 million during 2023. Japan, South Korea, Singapore and the United Kingdom were the top markets for Philippines nickel articles exports. 

On the other hand, according to the Philippines export data shows around $2.5 billion worth of copper and its articles exports were recorded during the fiscal year 2023. China was responsible for 55% of the country's overall copper exports and stood around $1.36 billion.

Thailand was the second biggest market for Philippines copper exports as it recorded $425 million worth of copper sales for Philippines. Among the fastest growing markets for Philippines copper exports were Japan, Vietnam, Taiwan, India, Malaysia and Indonesia.

One of the leading copper export companies from the Philippines, Phil Associated Smelting & Refining was responsible for 80% of the country's overall copper exports and recorded $1.9 billion sales during last year. Other leading firms like, JX Nippon Mining & Metals, House Technology Industries and LTD Ever Extreme Enterprises were among the most prominent copper exporting companies from the Philippines in 2023. 

There is a great export potential in the global metals and mining industry. Philippines metals and mining companies can explore this market through the trade intelligence offered by the global import export data providers. Their most advanced business intelligence tools will help companies fast, accurate and real time information on the minerals and mining industry.

Philippines companies can track the insights on top traded metals, importing, exporting markets, top trading companies by price, quantity, ports shipments, competitive analysis. This will help companies to make better decisions on metals or minerals sourcing, procurement, decide pricing, evaluate production quantity and get potential clients. By making small investments on B.I. tools, businesses could accelerate their business effectively in the international market like a pro.