Philippines: Market for Electro-Thermic Appliances Or Domestic Purposes 2022

Market Size for Electro-Thermic Appliances Or Domestic Purposes in the Philippines

The Philippine market for electro-thermic appliances or domestic purposes dropped remarkably to $X in 2021, shrinking by -54.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a noticeable downturn. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Electro-Thermic Appliances Or Domestic Purposes

Exports from the Philippines

In 2021, exports of electro-thermic appliances or domestic purposes from the Philippines dropped dramatically to X units, falling by -60.9% compared with the previous year's figure. Over the period under review, exports continue to indicate a perceptible downturn. The pace of growth was the most pronounced in 2014 with an increase of 74%. Over the period under review, the exports hit record highs at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, electro-thermic appliances or domestic purposes exports declined dramatically to $X in 2021. In general, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 100%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for electro-thermic appliances or domestic purposes exports from the Philippines, accounting for a 77% share of total exports. Moreover, electro-thermic appliances or domestic purposes exports to the United States exceeded the volume sent to the second major destination, Japan (X units), sevenfold. The third position in this ranking was held by Brunei Darussalam (X units), with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States amounted to +44.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+17.6% per year) and Brunei Darussalam (+39.5% per year).

In value terms, the United States ($X) emerged as the key foreign market for electro-thermic appliances or domestic purposes exports from the Philippines, comprising 88% of total exports. The second position in the ranking was held by Japan ($X), with a 5.1% share of total exports. It was followed by Brunei Darussalam, with a 1.8% share.

From 2012 to 2021, the average annual growth rate of value to the United States stood at +63.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+9.4% per year) and Brunei Darussalam (+36.3% per year).

Export Prices by Country

The average export price for electro-thermic appliances or domestic purposes stood at $X per unit in 2021, which is down by -27.6% against the previous year. In general, the export price showed a abrupt slump. The most prominent rate of growth was recorded in 2020 an increase of 41%. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to Guam ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+13.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Electro-Thermic Appliances Or Domestic Purposes

Imports into the Philippines

In 2021, overseas purchases of electro-thermic appliances or domestic purposes decreased by -47.8% to X units, falling for the third year in a row after two years of growth. Over the period under review, imports continue to indicate a slight downturn. The pace of growth was the most pronounced in 2018 with an increase of 153%. As a result, imports reached the peak of X units. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, electro-thermic appliances or domestic purposes imports shrank significantly to $X in 2021. Overall, imports recorded a pronounced descent. The pace of growth appeared the most rapid in 2018 when imports increased by 175%. Over the period under review, imports hit record highs at $X in 2020, and then reduced remarkably in the following year.

Imports by Country

China (X units) and Hong Kong SAR (X units) were the main suppliers of electro-thermic appliances or domestic purposes imports to the Philippines.

From 2012 to 2021, the biggest increases were in Hong Kong SAR (with a CAGR of +83.4%).

In value terms, China ($X) constituted the largest supplier of electro-thermic appliances or domestic purposes to the Philippines, comprising 70% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 23% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to -6.1%.

Import Prices by Country

The average import price for electro-thermic appliances or domestic purposes stood at $X per unit in 2021, waning by -19.2% against the previous year. Over the period under review, the import price showed a mild downturn. The most prominent rate of growth was recorded in 2020 an increase of 29% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per unit), while the price for Hong Kong SAR totaled $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+1.3%).

Source: IndexBox Platform

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