Philippines: Pump For Liquid Market 2024

Pump For Liquid Market Size in the Philippines

The Philippine pump for liquid market shrank to $X in 2021, waning by -9.9% against the previous year. In general, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +8.2% 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 +3.5% against 2016 indices. Over the period under review, the market attained the maximum level at $X in 2020, and then dropped in the following year.

Pump For Liquid Production in the Philippines

In value terms, pump for liquid production declined to $X in 2021 estimated in export price. In general, production, however, saw a remarkable increase. The pace of growth was the most pronounced in 2013 when the production volume increased by 73%. Pump for liquid production peaked at $X in 2020, and then reduced in the following year.

Pump For Liquid Exports

Exports from the Philippines

Pump for liquid exports from the Philippines contracted remarkably to X units in 2021, reducing by -42.3% against 2020. In general, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 128%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, pump for liquid exports dropped markedly to $X in 2021. Over the period under review, exports continue to indicate a deep downturn. The growth pace was the most rapid in 2013 when exports increased by 35% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Poland (X units) was the main destination for pump for liquid exports from the Philippines, accounting for a 54% share of total exports. Moreover, pump for liquid exports to Poland exceeded the volume sent to the second major destination, Singapore (X units), sixfold. Japan (X units) ranked third in terms of total exports with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume to Poland totaled +141.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+12.1% per year) and Japan (-7.7% per year).

In value terms, the largest markets for pump for liquid exported from the Philippines were Japan ($X), Singapore ($X) and Thailand ($X), together comprising 55% of total exports. Australia, Malaysia, Indonesia, the United Arab Emirates, Poland and Oman lagged somewhat behind, together comprising a further 20%.

Oman, with a CAGR of +171.6%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2021, the average pump for liquid export price amounted to $X per unit, increasing by 15% against the previous year. In general, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the average export price increased by 165% against the previous year. The export price peaked at $X per unit in 2016; however, from 2017 to 2021, 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 Malaysia ($X per unit), while the average price for exports to Poland ($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 Arab Emirates (+99.4%), while the prices for the other major destinations experienced more modest paces of growth.

Pump For Liquid Imports

Imports into the Philippines

Pump for liquid imports into the Philippines surged to X units in 2021, with an increase of 54% against the year before. Over the period under review, imports recorded a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, pump for liquid imports skyrocketed to $X in 2021. In general, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 61% against the previous year. Over the period under review, imports reached 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 pump for liquid to the Philippines, accounting for a 63% share of total imports. Moreover, pump for liquid imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), sixfold. The third position in this ranking was taken by Taiwan (Chinese) (X units), with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+5.0% per year) and Taiwan (Chinese) (+17.3% per year).

In value terms, the largest pump for liquid suppliers to the Philippines were China ($X), Japan ($X) and Singapore ($X), together accounting for 51% of total imports.

In terms of the main suppliers, China, with a CAGR of +17.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average pump for liquid import price amounted to $X per unit, which is down by -10.8% against the previous year. In general, the import price continues to indicate a noticeable shrinkage. The pace of growth appeared the most rapid in 2013 an increase of 43%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform