Philippines: Keyboards Market 2024

Keyboards Market Size in the Philippines

The Philippine keyboards market amounted to $X in 2022, surging by 6.1% against the previous year. Over the period under review, consumption, however, continues to indicate a deep setback. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Keyboards Production in the Philippines

In value terms, keyboards production expanded markedly to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt decline. The pace of growth appeared the most rapid in 2016 with an increase of 62% against the previous year. Keyboards production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Keyboards Exports

Exports from the Philippines

Keyboards exports from the Philippines plummeted to X units in 2022, shrinking by -97.5% on the previous year's figure. In general, exports faced a sharp downturn. The growth pace was the most rapid in 2015 when exports increased by 52% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, keyboards exports fell sharply to $X in 2022. Overall, exports continue to indicate a precipitous curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 140%. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for keyboards exports from the Philippines, with a 64% share of total exports. Moreover, keyboards exports to the United States exceeded the volume sent to the second major destination, Hong Kong SAR (X units), fourfold. The third position in this ranking was held by Singapore (X units), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to -61.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hong Kong SAR (-53.6% per year) and Singapore (-56.3% per year).

In value terms, the largest markets for keyboards exported from the Philippines were Hong Kong SAR ($X), the United States ($X) and Singapore ($X), with a combined 72% share of total exports. Japan, Indonesia, Germany, China and South Korea lagged somewhat behind, together accounting for a further 23%.

Indonesia, with a CAGR of -49.2%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average keyboards export price stood at $X per unit in 2022, picking up by 127% against the previous year. In general, the export price saw a strong expansion. The most prominent rate of growth was recorded in 2020 an increase of 133% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Indonesia ($X per unit), while the average price for exports to the United States ($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 Argentina (+59.8%), while the prices for the other major destinations experienced more modest paces of growth.

Keyboards Imports

Imports into the Philippines

For the third year in a row, the Philippines recorded growth in supplies from abroad of keyboards, which increased by 0.9% to X units in 2022. Overall, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 201% against the previous year. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, keyboards imports reduced to $X in 2022. In general, imports, however, showed a pronounced decline. The pace of growth was the most pronounced in 2018 with an increase of 142%. Over the period under review, imports hit record highs at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of keyboards to the Philippines, with a 63% share of total imports. Moreover, keyboards imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X units), threefold.

From 2012 to 2022, the average annual growth rate of volume from China totaled +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+9.4% per year) and Hong Kong SAR (-1.6% per year).

In value terms, China ($X) constituted the largest supplier of keyboards to the Philippines, comprising 46% of total imports. The second position in the ranking was taken by Singapore ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China totaled +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-6.1% per year) and Hong Kong SAR (-11.4% per year).

Import Prices by Country

In 2022, the average keyboards import price amounted to $X per unit, dropping by -5.9% against the previous year. In general, the import price showed a abrupt decrease. The growth pace was the most rapid in 2013 when the average import price increased by 63% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Singapore ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-6.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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