Philippines: Shipping Market 2025

Shipping Market Size in the Philippines

In 2021, the Philippine shipping market decreased by -13.8% to $X for the first time since 2017, thus ending a three-year rising trend. In general, consumption, however, enjoyed a buoyant expansion. Shipping consumption peaked at $X in 2020, and then contracted in the following year.

Shipping Production in the Philippines

In value terms, shipping production shrank significantly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 319% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Shipping Exports

Exports from the Philippines

In 2021, overseas shipments of ships, vessels, ferry-boats for the transport of persons decreased by 0% to X units, falling for the second consecutive year after two years of growth. Over the period under review, exports saw a precipitous decrease. The growth pace was the most rapid in 2019 when exports increased by 26,800%. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, shipping exports skyrocketed to $X in 2021. In general, exports showed a abrupt setback. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) and Spain (X units) were the main destinations of shipping exports from the Philippines.

From 2012 to 2021, the biggest increases were recorded for Spain (with a CAGR of 0.0%).

In value terms, Spain ($X) emerged as the key foreign market for ships, vessels, ferry-boats for the transport of persons exports from the Philippines, comprising 53% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 2.8% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+86.2% per year) and the UK (-77.5% per year).

Export Prices by Country

The average shipping export price stood at $X per unit in 2021, declining by -70.5% against the previous year. Over the period under review, the export price, however, saw strong growth. The most prominent rate of growth was recorded in 2020 an increase of 38,244% against the previous year. As a result, the export price attained the peak level of $X per unit, and then dropped notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to the United Arab Emirates ($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 Marshall Islands (-3.4%), while the prices for the other major destinations experienced a decline.

Shipping Imports

Imports into the Philippines

In 2021, approx. X units of ships, vessels, ferry-boats for the transport of persons were imported into the Philippines; picking up by 471% on the previous year's figure. In general, imports posted a resilient expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 1,425%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, shipping imports surged to $X in 2021. Over the period under review, imports posted a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of 4,293% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

India (X units), Malaysia (X units) and Japan (X units) were the main suppliers of shipping imports to the Philippines, with a combined 57% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Malaysia (with a CAGR of +38.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), India ($X) and Panama ($X) constituted the largest shipping suppliers to the Philippines, together accounting for 61% of total imports. Singapore, Japan, Malaysia, South Korea, Indonesia, the Netherlands, the UK, Thailand and Austria lagged somewhat behind, together comprising a further 35%.

In terms of the main suppliers, the Netherlands, with a CAGR of +261.7%, 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

The average shipping import price stood at $X per unit in 2021, growing by 61% against the previous year. Overall, the import price, however, continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2015 an increase of 214% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 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 Singapore ($X per unit), while the price for Austria ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+229.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :