Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in the Philippines - 2023

Contents:

1. Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in the Philippines (CIF) - 2022
2. Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in the Philippines (FOB) - 2022
3. Imports of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in the Philippines
4. Exports of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in the Philippines

Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in the Philippines (CIF) - 2022

The average import price for calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 stood at $22,506 per ton in 2022, rising by 3.2% against the previous year. Overall, the import price, however, faced a abrupt descent. The pace of growth was the most pronounced in 2017 an increase of 269%. Over the period under review, average import prices hit record highs at $122,333 per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Taiwan (Chinese) ($53,237 per ton), while the price for China ($17,870 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in the Philippines (FOB) - 2022

The average export price for calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 stood at $159,392 per ton in 2022, which is down by -9.4% against the previous year. In general, the export price, however, showed strong growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 293% against the previous year. The export price peaked at $175,952 per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($1,755,464 per ton), while the average price for exports to the United States ($52,071 per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+97.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in the Philippines

In 2022, approx. 299 tons of calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 were imported into the Philippines; increasing by 17% against the year before. Overall, imports, however, continue to indicate a deep reduction.

In value terms, imports of calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 surged to $6.7M in 2022. Over the period under review, imports, however, recorded a noticeable curtailment.

Top Suppliers of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 to the Philippines in 2022:

1. China (268.8 tons)
2. Taiwan (Chinese) (22.7 tons)
3. Malaysia (4.3 tons)
4. Japan (0.9 tons)

Exports of Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 in the Philippines

In 2022, exports of calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 from the Philippines declined remarkably to 33 tons, waning by -19.2% against 2021. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 145,014% against the previous year. As a result, the exports reached the peak of 41 tons, and then dropped significantly in the following year.

In value terms, exports of calculating machines; parts and accessories of item no. 8470.10, 8470.21 or 8470.29 declined rapidly to $5.2M in 2022. Over the period under review, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 186,468% against the previous year. As a result, the exports attained the peak of $7.1M, and then dropped sharply in the following year.

Top Export Markets for Calculating Machines; Parts and Accessories of Item No. 8470.10, 8470.21 or 8470.29 from the Philippines in 2022:

1. Hong Kong SAR (18.9 tons)
2. Canada (7.7 tons)
3. Malaysia (1.8 tons)
4. United States (1.6 tons)
5. Sweden (1.5 tons)
6. United Kingdom (0.6 tons)
7. China (0.5 tons)

Source: IndexBox Market Intelligence Platform