Philippines: Wood Tool Market 2025

Wood Tool Market Size in the Philippines

The Philippine wood tool market reduced to $X in 2021, falling by -10.7% against the previous year. Over the period under review, the total consumption indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +13.7% against 2019 indices. Over the period under review, the market hit record highs at $X in 2020, and then shrank in the following year.

Wood Tool Production in the Philippines

In value terms, wood tool production fell to $X in 2021 estimated in export price. Over the period under review, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +20.9% against 2019 indices. The pace of growth appeared the most rapid in 2014 with an increase of 43% against the previous year. Wood tool production peaked at $X in 2020, and then declined in the following year.

Wood Tool Exports

Exports from the Philippines

In 2021, after three years of decline, there was significant growth in overseas shipments of tools of wood, when their volume increased by 149% to X kg. In general, exports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2017 with an increase of 5,341,335%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, wood tool exports surged to $X in 2021. Overall, exports, however, faced a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 5,067,818% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Japan (X kg) was the main destination for wood tool exports from the Philippines, accounting for a 78% share of total exports. Moreover, wood tool exports to Japan exceeded the volume sent to the second major destination, the Netherlands (X kg), more than tenfold. The third position in this ranking was taken by Taiwan (Chinese) (X kg), with a 4.7% share.

From 2013 to 2021, the average annual rate of growth in terms of volume to Japan stood at +6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+1.9% per year) and Taiwan (Chinese) (-41.4% per year).

In value terms, Japan ($X) remains the key foreign market for tools of wood exports from the Philippines, comprising 63% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 17% share of total exports. It was followed by Taiwan (Chinese), with a 6.9% share.

From 2013 to 2021, the average annual growth rate of value to Japan totaled -3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-10.6% per year) and Taiwan (Chinese) (-29.8% per year).

Export Prices by Country

The average wood tool export price stood at $X per ton in 2021, jumping by 21% against the previous year. Over the period under review, export price indicated a mild expansion from 2013 to 2021: its price increased at an average annual rate of +1.3% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood tool export price decreased by -15.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 59% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+20.2%), while the prices for the other major destinations experienced mixed trend patterns.

Wood Tool Imports

Imports into the Philippines

In 2021, after two years of decline, there was significant growth in supplies from abroad of tools of wood, when their volume increased by 52% to X tons. In general, imports recorded a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 523% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, wood tool imports soared to $X in 2021. Overall, imports saw a significant increase. The most prominent rate of growth was recorded in 2013 when imports increased by 321%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest wood tool supplier to the Philippines, with a 62% share of total imports. Moreover, wood tool imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), sixfold. The Netherlands (X tons) ranked third in terms of total imports with a 6.8% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +42.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+75.9% per year) and the Netherlands (+97.9% per year).

In value terms, China ($X) constituted the largest supplier of tools of wood to the Philippines, comprising 61% of total imports. The second position in the ranking was taken by Indonesia ($X), with a 7.2% share of total imports. It was followed by the Netherlands, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +75.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+95.2% per year) and the Netherlands (+73.8% per year).

Import Prices by Country

In 2021, the average wood tool import price amounted to $X per ton, with an increase of 38% against the previous year. Over the period under review, the import price recorded a prominent expansion. The growth pace was the most rapid in 2019 when the average import price increased by 40%. Over the period under review, average import prices attained the maximum in 2021 and is likely to see gradual growth in the immediate term.

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 Denmark ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+23.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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