Philippines: Market for Turbo-Jets Of A Thrust Exceeding 25 kN 2024

Market Size for Turbo-Jets Of A Thrust Exceeding 25 kN in the Philippines

The Philippine turbo-jet (over X kn) market shrank dramatically to $X in 2021, waning by -46.1% against the previous year. Over the period under review, consumption saw a deep setback. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Production of Turbo-Jets Of A Thrust Exceeding X kN in the Philippines

In value terms, turbo-jet (over X kn) production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.9% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when the production volume increased by 32% against the previous year. As a result, production attained the peak level of $X, and then fell in the following year.

Exports of Turbo-Jets Of A Thrust Exceeding 25 kN

Exports from the Philippines

In 2021, exports of turbo-jets of a thrust exceeding X kn from the Philippines skyrocketed to X units, rising by 30% against the previous year's figure. Over the period under review, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by 400% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, turbo-jet (over X kn) exports skyrocketed to $X in 2021. Overall, exports recorded a significant expansion. The growth pace was the most rapid in 2017 with an increase of 32,472% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

Hong Kong SAR (X units), Singapore (X units) and South Korea (X units) were the main destinations of turbo-jet (over X kn) exports from the Philippines. Moreover, turbo-jet (over X kn) exports in Hong Kong SAR exceeded the figures recorded by the second-largest exporter, Singapore, twofold.

From 2012 to 2021, the biggest increases were recorded for Singapore (with a CAGR of +26.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for turbo-jet (over X kn) exported from the Philippines were Singapore ($X), Hong Kong SAR ($X) and South Korea ($X), with a combined 89% share of total exports.

In terms of the main countries of destination, Singapore, with a CAGR of +3,286.1%, 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 turbo-jet (over X kn) export price stood at $X per unit in 2021, jumping by 65% against the previous year. In general, the export price saw a prominent expansion. The pace of growth appeared the most rapid in 2017 when the average export price increased by 68,735%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per unit), while the average price for exports to Hong Kong SAR ($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 Singapore (+2,636.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Turbo-Jets Of A Thrust Exceeding 25 kN

Imports into the Philippines

In 2021, the amount of turbo-jets of a thrust exceeding X kn imported into the Philippines totaled X units, therefore, remained relatively stable against 2020 figures. Overall, imports recorded a deep slump. The growth pace was the most rapid in 2017 when imports increased by 21,800% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, turbo-jet (over X kn) imports stood at $X in 2021. Over the period under review, imports saw a significant expansion. The pace of growth appeared the most rapid in 2017 when imports increased by 733,249% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

From 2012 to 2021, the average annual growth rate of volume from No country was relatively modest.

In value terms, the largest turbo-jet (over X kn) suppliers to the Philippines were China ($X) and Thailand ($X).

Thailand, with a CAGR of -9.9%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review.

Import Prices by Country

The average turbo-jet (over X kn) import price stood at $X per unit in 2021, approximately reflecting the previous year. Over the period under review, the import price recorded significant growth. The pace of growth was the most pronounced in 2019 an increase of 73,718% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for China amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+478.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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