Motorcycle Tire Price in the Philippines - 2023
Contents:
- Motorcycle Tire Price in the Philippines (CIF) - 2023
- Motorcycle Tire Price in the Philippines (FOB) - 2022
- Motorcycle Tire Imports in the Philippines
- Motorcycle Tire Exports in the Philippines
Motorcycle Tire Price in the Philippines (CIF) - 2023
In July 2023, the average motorcycle tire import price amounted to $6.3 per unit, growing by 3.6% against the previous month. Over the period under review, the import price recorded a pronounced increase. The most prominent rate of growth was recorded in October 2022 an increase of 709% against the previous month. As a result, import price attained the peak level of $41.7 per unit. From November 2022 to July 2023, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Indonesia ($9.9 per unit), while the price for Thailand ($3.3 per unit) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by China (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Motorcycle Tire Price in the Philippines (FOB) - 2022
The average motorcycle tire export price stood at $4 per unit in 2022, standing approx. at the previous year. Over the period under review, the export price showed a abrupt contraction. The growth pace was the most rapid in 2013 an increase of 287% against the previous year. As a result, the export price attained the peak level of $93 per unit. From 2014 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($9 per unit), while the average price for exports to Serbia ($1 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 China (+24.6%), while the prices for the other major destinations experienced mixed trend patterns.
Motorcycle Tire Imports in the Philippines
In 2022, approx. 7.7M units of new pneumatic tyres for motorcycles were imported into the Philippines; jumping by 31% on the year before. Over the period under review, imports enjoyed a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by 83%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.
In value terms, motorcycle tire imports soared to $39M in 2022. Overall, imports enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.
Import of Motorcycle Tire in the Philippines (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Indonesia | 4.7 | 6.1 | 11.8 | 19.6 | 61.0% |
China | 5.1 | 4.4 | 7.2 | 9.1 | 21.3% |
Thailand | 6.3 | 6.5 | 7.7 | 5.8 | -2.7% |
Vietnam | 1.6 | 1.0 | 1.4 | 1.3 | -6.7% |
India | 0.1 | N/A | N/A | 0.3 | 44.2% |
Others | 2.0 | 1.5 | 3.2 | 2.5 | 7.7% |
Total | 19.9 | 19.6 | 31.3 | 38.6 | 24.7% |
Top Suppliers of Motorcycle Tire to the Philippines in 2022:
- China (3.5M units)
- Indonesia (2.0M units)
- Thailand (1.5M units)
- Vietnam (0.3M units)
- India (0.1M units)
Motorcycle Tire Exports in the Philippines
For the third consecutive year, the Philippines recorded decline in shipments abroad of new pneumatic tyres for motorcycles, which decreased by 0% to 13 units in 2022. Over the period under review, exports saw a sharp contraction. The smallest decline of -99.9% was in 2020. The exports peaked at 30K units in 2019; however, from 2020 to 2022, the exports failed to regain momentum.
In value terms, motorcycle tire exports stood at $52 in 2022. Overall, exports saw a dramatic shrinkage. The smallest decline of -99.9% was in 2020. Over the period under review, the exports reached the peak figure at $166K in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
Export of Motorcycle Tire in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Thailand | 1.2 | N/A | N/A | N/A | 0% |
China | 1.4 | N/A | N/A | N/A | 0% |
Brunei Darussalam | N/A | N/A | N/A | N/A | 0% |
India | 2.0 | N/A | N/A | N/A | 0% |
Serbia | N/A | N/A | N/A | N/A | 0% |
Palau | 0.4 | N/A | N/A | N/A | 0% |
Turkey | 161 | 0.1 | N/A | N/A | -99.9% |
Others | N/A | N/A | N/A | N/A | 0% |
Total | 166 | 0.1 | N/A | 0.1 | -91.6% |
Top Export Markets for Motorcycle Tire from the Philippines in 2022:
- Turkey (7.0 units)
- Palau (1.0 units)
- Serbia (1.0 units)
- India (1.0 units)
- Brunei Darussalam (1.0 units)
- China (1.0 units)
- Thailand (1.0 units)
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