Metals; Platinum, Semi-Manufactured Price in the Philippines - 2023

Metals; Platinum, Semi-Manufactured Price in the Philippines (CIF) - 2022

The average metals; platinum, semi-manufactured import price stood at $2,144,315 per ton in 2022, shrinking by -38% against the previous year. Overall, the import price, however, posted a temperate expansion. The most prominent rate of growth was recorded in 2017 when the average import price increased by 20% against the previous year. The import price peaked at $4,702,475 per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($3,786,455 per ton), while the price for Slovakia ($256,500 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+44.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Metals; Platinum, Semi-Manufactured Price in the Philippines (FOB) - 2022

The average metals; platinum, semi-manufactured export price stood at $2,461,000 per ton in 2022, dropping by -36.3% against the previous year. Over the period under review, the export price, however, posted a significant expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 99%. Over the period under review, the average export prices attained the peak figure at $3,865,000 per ton in 2021, and then reduced notably in the following year.

As there is only one major export destination, the average price level is determined by prices for Germany.

From 2019 to 2022, the rate of growth in terms of prices for Japan amounted to +90.6% per year.

Metals; Platinum, Semi-Manufactured Imports in the Philippines

In 2022, metals; platinum, semi-manufactured imports into the Philippines soared to 92 kg, surging by 88% on the year before. Over the period under review, imports showed significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 170% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, metals; platinum, semi-manufactured imports soared to $197K in 2022. In general, imports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2020 when imports increased by 172%. As a result, imports reached the peak of $329K. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Metals; Platinum, Semi-Manufactured in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Japan	120	307	144	167	11.6%
Singapore	0.2	N/A	N/A	15.5	326.4%
United States	N/A	N/A	1.3	7.4	469.2%
Switzerland	N/A	N/A	0.4	1.8	350.0%
Slovakia	N/A	N/A	N/A	0.5	0%
Others	0.1	21.8	23.7	5.6	282.6%
Total	121	329	170	197	17.6%

Top Suppliers of Metals; Platinum, Semi-Manufactured to the Philippines in 2022:

Japan (44.0 kg)
Singapore (40.0 kg)
Switzerland (3.0 kg)
United States (2.0 kg)
Slovakia (2.0 kg)

Metals; Platinum, Semi-Manufactured Exports in the Philippines

In 2022, after three years of growth, there was decline in shipments abroad of metals; platinum, semi-manufactureds, when their volume decreased by 0% to 2 kg. Overall, exports saw a significant expansion. The pace of growth was the most pronounced in 2021 when exports increased by 100%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, metals; platinum, semi-manufactured exports fell dramatically to $4.9K in 2022. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 266% against the previous year. As a result, the exports attained the peak of $7.7K, and then dropped significantly in the following year.