Philippines: Market for Parts Of Apparatus Of Hs 2025

Market Size for Parts Of Apparatus Of Hs in the Philippines

The Philippine market for parts of apparatus of hs reached $X in 2021, approximately equating the previous year. Overall, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.0% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Parts Of Apparatus Of Hs in the Philippines

In value terms, parts of apparatus of hs production rose notably to $X in 2021 estimated in export price. Overall, production enjoyed a significant expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 46%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Parts Of Apparatus Of Hs

Exports from the Philippines

In 2021, the amount of parts of apparatus of hs exported from the Philippines soared to X units, with an increase of 826% on 2020 figures. Over the period under review, exports posted a prominent expansion. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, parts of apparatus of hs exports skyrocketed to $X in 2021. In general, exports continue to indicate a resilient expansion. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Malaysia (X units) was the main destination for parts of apparatus of hs exports from the Philippines, with a 66% share of total exports. Moreover, parts of apparatus of hs exports to Malaysia exceeded the volume sent to the second major destination, the United States (X units), sixfold. Hong Kong SAR (X units) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia totaled +106.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-3.3% per year) and Hong Kong SAR (+14.3% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for parts of apparatus of hs exports from the Philippines, comprising 65% of total exports. The second position in the ranking was taken by the United States ($X), with a 12% share of total exports. It was followed by Japan, with a 3.3% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia stood at +116.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+12.0% per year) and Japan (+11.8% per year).

Export Prices by Country

In 2021, the average export price for parts of apparatus of hs amounted to $X per unit, jumping by 29% against the previous year. In general, the export price continues to indicate a perceptible expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 398%. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was China ($X per unit), while the average price for exports to South Korea ($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 (+15.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Parts Of Apparatus Of Hs

Imports into the Philippines

In 2021, overseas purchases of parts of apparatus of hs decreased by -0.6% to X units, falling for the fourth consecutive year after three years of growth. In general, imports faced a abrupt downturn. The pace of growth was the most pronounced in 2016 with an increase of 49% against the previous year. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, parts of apparatus of hs imports expanded rapidly to $X in 2021. Overall, imports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 57%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X units) constituted the largest supplier of parts of apparatus of hs to the Philippines, accounting for a 68% share of total imports. Moreover, parts of apparatus of hs imports from China exceeded the figures recorded by the second-largest supplier, Hong Kong SAR (X units), eightfold. Malaysia (X units) ranked third in terms of total imports with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -17.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (-9.0% per year) and Malaysia (+5.1% per year).

In value terms, China ($X) constituted the largest supplier of parts of apparatus of hs to the Philippines, comprising 53% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 13% share of total imports. It was followed by Malaysia, with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +17.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+22.0% per year) and Malaysia (+28.5% per year).

Import Prices by Country

In 2021, the average import price for parts of apparatus of hs amounted to $X per unit, increasing by 12% against the previous year. Over the period under review, the import price recorded a significant increase. The growth pace was the most rapid in 2018 an increase of 671% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Singapore ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+42.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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