Philippines: Petroleum Market 2020

Petroleum Market Size in the Philippines

The revenue of the petroleum market in the Philippines amounted to $X in 2017, picking up by X% against the previous year. In general, the total market indicated a strong growth from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the petroleum consumption increased by +X% against 2015 indices. The pace of growth was the most pronounced in 2008, with an increase of X% against the previous year. Over the period under review, the petroleum market reached its maximum level of $X in 2014; however, from 2015 to 2017, it stood at a somewhat lower level.

Petroleum Production in the Philippines

In 2017, approx. X kg of petroleum were produced in the Philippines; reducing by -X% against the previous year. Overall, petroleum production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2009, with an increase of X% against the previous year. In that year, the petroleum production attained their peak volume of X tons. From 2010 to 2017, growth of the petroleum production stood at a somewhat lower level.

Petroleum Exports in the Philippines

Petroleum exports from the Philippines totaled X tons in 2017, increasing by X% against the previous year. Overall, petroleum exports continue to indicate an abrupt contraction. The pace of growth was the most pronounced in 2013, with an increase of X% against the previous year. Over the period under review, the petroleum exports attained its peak figure volume of X tons in 2007; however, from 2008 to 2017, it failed to regain its momentum.

In value terms, petroleum exports amounted to $X in 2017. Overall, petroleum exports continue to indicate a deep shrinkage. The Philippines exports peaked of $X in 2008; however, from 2009 to 2017, it failed to regain its momentum.

Petroleum Exports by Country in the Philippines

In 2017, the U.S. (X tons), followed by Russia (X tons), Singapore (X tons), the Netherlands (X tons), South Korea (X tons) and India (X tons) were the main exporters of petroleum, together committing X% of total exports. China (X tons), Belgium (X tons), Saudi Arabia (X tons), the United Arab Emirates (X tons), Canada (X tons) and Malaysia (X tons) followed a long way behind the leaders.

From 2007 to 2017, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by the U.S. (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the largest petroleum markets worldwide were the U.S. ($X), Russia ($X) and Singapore ($X), together accounting for X% of total exports.

In terms of the main exporting countries , the U.S. (+X% per year) experienced the highest growth rate of exports, over the last decade, while the other leaders experienced more modest paces of growth.

Petroleum Export Prices by Country in the Philippines

The petroleum export price in the Philippines stood at $X per ton in 2017, growing by X% against the previous year. In general, petroleum export price continues to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2008, an increase of X% year-to-year. In that year, the export prices for petroleum reached their peak level of $X per ton. From 2009 to 2017, growth of the export prices for petroleum failed to regain its momentum.

Export prices varied noticeably by the country of destination; the country with the highest export price was the United Arab Emirates ($X per ton), while the U.S. ($X per ton) was amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of export prices was attained by the United Arab Emirates (+X% per year), while the other leaders experienced more modest paces of growth.

Petroleum Imports in the Philippines

In 2017, the amount of petroleum imported into the Philippines amounted to X tons, jumping by X% against the previous year. Overall, petroleum imports continue to indicate a remarkable growth. The growth pace was the most rapid in 2016, when it surged by X% y-o-y. Over the period under review, the petroleum imports reached its peak figure volume in 2017, and are expected to retain its growth in the near future.

In value terms, petroleum imports amounted to $X in 2017. In general, the total imports indicated a strong expansion from 2007 to 2017: its value increased at an average annual rate of +X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations throughout the analyzed period. Based on 2017 figures, the petroleum imports increased by +X% against 2015 indices. Over the period under review, the petroleum imports attained its maximum level of $X in 2014; however, from 2015 to 2017, it stood at a somewhat lower level.

Petroleum Imports by Country in the Philippines

In 2017, the U.S. (X tons) and Singapore (X tons) represented the largest importers of petroleum in the globe, together reaching near X% of total imports. It was followed by the Netherlands (X tons), generating X% share of total imports. Mexico (X tons), Belgium (X tons), Germany (X tons), Malaysia (X tons), France (X tons), China (X tons), the UK (X tons), Indonesia (X tons) and Canada (X tons) occupied the weak share of total imports.

From 2007 to 2017, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Malaysia (+X% per year), while the other leaders experienced more modest paces of growth.

In value terms, the largest petroleum markets worldwide were the U.S. ($X), Singapore ($X) and the Netherlands ($X), together comprising X% of total imports. Mexico, Germany, Belgium, France, the UK, Malaysia, Indonesia, China, Canada and the Philippines lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries , Malaysia (+X% per year) experienced the highest growth rate of imports, over the last decade, while the other leaders experienced more modest paces of growth.

Petroleum Import Prices by Country in the Philippines

In 2017, the petroleum import price in the Philippines amounted to $X per ton, going up by X% against the previous year. In general, petroleum import price continues to indicate a measured drop. The pace of growth appeared the most rapid in 2011, when the import prices increased by X% year-to-year. Over the period under review, the import prices for petroleum attained its peak figure level of $X per ton in 2012; however, from 2013 to 2017, it stood at a somewhat lower level.

Average import prices varied somewhat amongst the major importing countries. In 2017, major importing countries recorded the following import prices: in the UK ($X per ton) and Germany ($X per ton), while China ($X per ton) and Canada ($X per ton) were amongst the lowest.

From 2007 to 2017, the most notable rate of growth in terms of import prices was attained by Singapore (+X% per year), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform