Philippines: Data Storage Device Market 2024

Data Storage Device Market Size in the Philippines

The Philippine data storage device market reduced to $X in 2022, falling by -11.9% against the previous year. Over the period under review, consumption, however, continues to indicate a prominent increase. Data storage device consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Data Storage Device Production in the Philippines

In value terms, data storage device production dropped notably to $X in 2022 estimated in export price. In general, production, however, continues to indicate a pronounced increase. The growth pace was the most rapid in 2014 when the production volume increased by 231% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Data Storage Device Exports

Exports from the Philippines

For the third year in a row, the Philippines recorded decline in overseas shipments of data storage devices, which decreased by -32.9% to X units in 2022. In general, exports recorded a mild setback. The most prominent rate of growth was recorded in 2013 when exports increased by 101% against the previous year. Over the period under review, the exports hit record highs at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, data storage device exports reduced markedly to $X in 2022. Over the period under review, total exports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -42.9% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by 79% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X units), the United States (X units) and China (X units) were the main destinations of data storage device exports from the Philippines, with a combined 71% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +14.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Hong Kong SAR ($X) and China ($X) were the largest markets for data storage device exported from the Philippines worldwide, with a combined 70% share of total exports. Germany, Taiwan (Chinese), Singapore, Japan, Poland, the Czech Republic and Mexico lagged somewhat behind, together comprising a further 23%.

In terms of the main countries of destination, Taiwan (Chinese), with a CAGR of +26.7%, recorded 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 data storage device export price stood at $X per unit in 2022, reducing by -7% against the previous year. In general, the export price, however, showed a strong expansion. The growth pace was the most rapid in 2020 an increase of 35%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then fell in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Poland ($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 Taiwan (Chinese) (+16.7%), while the prices for the other major destinations experienced more modest paces of growth.

Data Storage Device Imports

Imports into the Philippines

Data storage device imports into the Philippines soared to X units in 2022, rising by 22% on the year before. In general, imports saw a prominent expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 197% against the previous year. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, data storage device imports surged to $X in 2022. Overall, imports saw a significant expansion. The growth pace was the most rapid in 2015 when imports increased by 220% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Japan (X units), Hong Kong SAR (X units) and the United States (X units) were the main suppliers of data storage device imports to the Philippines, together comprising 69% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +68.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest data storage device suppliers to the Philippines were the United States ($X), Japan ($X) and Taiwan (Chinese) ($X), together accounting for 68% of total imports.

Taiwan (Chinese), with a CAGR of +63.7%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average data storage device import price amounted to $X per unit, surging by 37% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, data storage device import price increased by +95.3% against 2018 indices. The pace of growth was the most pronounced in 2013 an increase of 52%. The import price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Thailand ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+33.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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