Philippines: Video Monitor Market 2024

Video Monitor Market Size in the Philippines

The Philippine video monitor market soared to $X in 2021, picking up by 103% against the previous year. Overall, consumption showed a remarkable increase. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Video Monitor Production in the Philippines

In value terms, video monitor production surged to $X in 2021 estimated in export price. In general, production saw a resilient increase. The growth pace was the most rapid in 2019 with an increase of 267%. As a result, production reached the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Video Monitor Exports

Exports from the Philippines

In 2021, video monitor exports from the Philippines expanded rapidly to X units, growing by 13% on 2020 figures. Over the period under review, exports, however, faced a dramatic setback. The pace of growth appeared the most rapid in 2019 with an increase of 15% against the previous year. Over the period under review, the exports attained the maximum at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, video monitor exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.3% from 2017 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X units), the United States (X units) and the Netherlands (X units) were the main destinations of video monitor exports from the Philippines, with a combined 42% share of total exports. These countries were followed by China, Japan, Mexico, the United Arab Emirates, Indonesia, Finland, India, South Korea, Singapore and France, which together accounted for a further 30%.

From 2017 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of -3.7%), while the other leaders experienced a decline.

In value terms, the largest markets for video monitor exported from the Philippines were the United States ($X), Germany ($X) and the Netherlands ($X), with a combined 46% share of total exports. These countries were followed by China, Japan, Indonesia, South Korea, the United Arab Emirates, India, Finland, Mexico, Singapore and France, which together accounted for a further 24%.

In terms of the main countries of destination, China, with a CAGR of +36.4%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average video monitor export price stood at $X per unit in 2021, picking up by 24% against the previous year. In general, the export price continues to indicate a significant increase. The pace of growth was the most pronounced in 2018 an increase of 93% against the previous year. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was South Korea ($X per unit), while the average price for exports to Mexico ($X per unit) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+53.9%), while the prices for the other major destinations experienced more modest paces of growth.

Video Monitor Imports

Imports into the Philippines

In 2021, overseas purchases of video monitors increased by 83% to X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports enjoyed a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, video monitor imports surged to $X in 2021. Over the period under review, imports, however, recorded a perceptible setback. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X units) constituted the largest video monitor supplier to the Philippines, accounting for a 65% share of total imports. Moreover, video monitor imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X units), sixfold. Singapore (X units) ranked third in terms of total imports with an 8.6% share.

From 2017 to 2021, the average annual growth rate of volume from China amounted to +40.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+16.7% per year) and Singapore (-7.8% per year).

In value terms, China ($X) constituted the largest supplier of video monitors to the Philippines, comprising 54% of total imports. The second position in the ranking was held by Singapore ($X), with a 19% share of total imports. It was followed by Hong Kong SAR, with a 5.5% share.

From 2017 to 2021, the average annual growth rate of value from China stood at -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (-9.5% per year) and Hong Kong SAR (+46.4% per year).

Import Prices by Country

The average video monitor import price stood at $X per unit in 2021, falling by -32.3% against the previous year. Over the period under review, the import price continues to indicate a sharp decrease. The pace of growth appeared the most rapid in 2019 a decrease of -2.2%. Over the period under review, average import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2017 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+33.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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