Philippines: Domestic Electro-Thermic Appliances Market 2024

Domestic Electro-Thermic Appliances Market Size in the Philippines

The Philippine domestic electro-thermic appliances market expanded rapidly to $X in 2022, surging by X% against the previous year. Overall, consumption enjoyed resilient growth. Domestic electro-thermic appliances consumption peaked in 2022 and is likely to see gradual growth in the near future.

Domestic Electro-Thermic Appliances Production in the Philippines

In value terms, domestic electro-thermic appliances production shrank to $X in 2022 estimated in export price. In general, production recorded a remarkable increase. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Domestic Electro-Thermic Appliances Exports

Exports from the Philippines

In 2022, the amount of domestic electro-thermic appliances exported from the Philippines surged to X units, picking up by X% against the previous year's figure. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, domestic electro-thermic appliances exports surged to $X in 2022. Overall, exports showed a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The Netherlands (X units), South Korea (X units) and the United States (X units) were the main destinations of domestic electro-thermic appliances exports from the Philippines, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and South Korea ($X) constituted the largest markets for domestic electro-thermic appliances exported from the Philippines worldwide, together comprising X% of total exports.

South Korea, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average domestic electro-thermic appliances export price amounted to $X per unit, picking up by X% against the previous year. Over the period under review, the export price, however, recorded a abrupt descent. The growth pace was the most rapid in 2016 an increase of X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Electro-Thermic Appliances Imports

Imports into the Philippines

In 2022, purchases abroad of domestic electro-thermic appliances increased by X% to X units, rising for the second year in a row after three years of decline. In general, imports saw a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, domestic electro-thermic appliances imports amounted to $X in 2022. Overall, imports posted a prominent expansion. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X units) was the main domestic electro-thermic appliances supplier to the Philippines, accounting for a X% share of total imports. It was followed by Malaysia (X units), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Vietnam (X% per year).

In value terms, China ($X) constituted the largest supplier of domestic electro-thermic appliances to the Philippines, comprising X% of total imports. The second position in the ranking was held by Malaysia ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Vietnam (X% per year).

Import Prices by Country

In 2022, the average domestic electro-thermic appliances import price amounted to $X per unit, dropping by X% against the previous year. In general, the import price, however, enjoyed resilient growth. The growth pace was the most rapid in 2018 an increase of X%. The import price peaked at $X per unit in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform