Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in the Philippines - 2023
Contents:
- Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in the Philippines (FOB) - 2023
- Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in the Philippines (CIF) - 2023
- Exports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in the Philippines
- Imports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in the Philippines
Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in the Philippines (FOB) - 2023
In November 2023, the average export price for articles of apparel and clothing accessories, of leather or of composition leather amounted to $52.1 per unit, with a decrease of -9.2% against the previous month. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2023 an increase of 33% against the previous month. As a result, the export price reached the peak level of $61.5 per unit. From October 2023 to November 2023, the the average export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Italy ($73.9 per unit), while the average price for exports to Australia ($20.6 per unit) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (+9.0%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in the Philippines (CIF) - 2023
The average import price for articles of apparel and clothing accessories, of leather or of composition leather stood at $35.9 per unit in November 2023, reducing by -17.5% against the previous month. Over the period under review, import price indicated a modest expansion from November 2022 to November 2023: its price increased at an average monthly rate of +1.4% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, import price for articles of apparel and clothing accessories, of leather or of composition leather increased by +8.0% against August 2023 indices. The growth pace was the most rapid in October 2023 an increase of 29% month-to-month. As a result, import price attained the peak level of $43.6 per unit, and then contracted notably in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was Italy ($65.6 per unit), while the price for Thailand ($16.1 per unit) was amongst the lowest.
From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Spain (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in the Philippines
In 2022, exports of articles of apparel and clothing accessories, of leather or of composition leather from the Philippines soared to 2.1M units, with an increase of 88% on the year before. Over the period under review, exports recorded buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of articles of apparel and clothing accessories, of leather or of composition leather soared to $94M in 2022. Overall, total exports indicated a strong increase from 2019 to 2022: its value increased at an average annual rate of +6.5% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +99.1% against 2020 indices. The pace of growth was the most pronounced in 2021 when exports increased by 45% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.
| Export of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 38.1 | 22.2 | 43.2 | 61.0 | 17.0% |
| Japan | 15.4 | 13.0 | 12.4 | 14.6 | -1.8% |
| Italy | 0.8 | 0.4 | 0.7 | 4.5 | 77.8% |
| Germany | 8.0 | 4.8 | 3.4 | 3.7 | -22.7% |
| Canada | 1.9 | 0.7 | 1.2 | 3.0 | 16.4% |
| Australia | 1.5 | 0.3 | 0.6 | 1.7 | 4.3% |
| United Kingdom | 1.0 | 0.4 | 0.8 | 1.2 | 6.3% |
| France | 2.3 | 1.6 | 1.2 | 0.8 | -29.7% |
| Others | 9.2 | 4.1 | 5.2 | 4.0 | -24.2% |
| Total | 78.2 | 47.4 | 68.8 | 94.4 | 6.5% |
Top Export Markets for Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather from the Philippines in 2022:
- United States (1412.6K units)
- Japan (255.1K units)
- Canada (93.7K units)
- Italy (85.5K units)
- United Kingdom (62.0K units)
- Australia (61.0K units)
- France (43.7K units)
- Germany (42.9K units)
Imports of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in the Philippines
For the third consecutive year, the Philippines recorded decline in supplies from abroad of articles of apparel and clothing accessories, of leather or of composition leather, which decreased by -3.3% to 1M units in 2022. Overall, imports continue to indicate a abrupt descent. The smallest decline of -2.2% was in 2021. Over the period under review, imports of reached the peak figure at 1.9M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, imports of articles of apparel and clothing accessories, of leather or of composition leather soared to $24M in 2022. Over the period under review, imports, however, enjoyed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 6.5 | 4.1 | 8.1 | 15.4 | 33.3% |
| Spain | 0.1 | 0.1 | 1.2 | 2.6 | 196.2% |
| Italy | 0.7 | 0.5 | 0.6 | 2.4 | 50.8% |
| Thailand | 0.3 | 0.7 | 1.1 | 0.6 | 26.0% |
| Japan | 0.4 | 0.3 | 0.7 | 0.4 | 0.0% |
| Pakistan | 0.3 | 0.2 | 0.3 | 0.3 | 0.0% |
| Malaysia | 0.5 | 0.9 | 0.6 | 0.3 | -15.7% |
| Hong Kong SAR | 1.0 | 0.5 | 0.2 | 0.3 | -33.1% |
| Singapore | 0.2 | 4.2 | 1.3 | 0.2 | 0.0% |
| Vietnam | 0.1 | 0.3 | 2.0 | 0.2 | 26.0% |
| South Korea | 0.3 | 0.3 | 1.0 | 0.2 | -12.6% |
| Taiwan (Chinese) | 0.2 | 0.9 | 0.1 | 0.1 | -20.6% |
| Others | 1.7 | 2.1 | 1.0 | 1.3 | -8.6% |
| Total | 12.3 | 15.0 | 18.4 | 24.2 | 25.3% |
Top Suppliers of Articles of Apparel and Clothing Accessories, of Leather or of Composition Leather to the Philippines in 2022:
- China (712.4K units)
- Spain (55.3K units)
- Italy (48.5K units)
- Thailand (37.7K units)
- Pakistan (27.1K units)
- Japan (21.5K units)
- Malaysia (17.3K units)
- Vietnam (13.1K units)
- Hong Kong SAR (9.7K units)
- South Korea (9.2K units)
- Singapore (6.3K units)
- Taiwan (Chinese) (3.6K units)
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