Price for Electric Motors; of an Output Not Exceeding 37.5W in the Philippines - 2023
Contents:
- Price for Electric Motors; of an Output Not Exceeding 37.5W in the Philippines (FOB) - 2022
- Price for Electric Motors; of an Output Not Exceeding 37.5W in the Philippines (CIF) - 2022
- Exports of Electric Motors; of an Output Not Exceeding 37.5W in the Philippines
- Imports of Electric Motors; of an Output Not Exceeding 37.5W in the Philippines
Price for Electric Motors; of an Output Not Exceeding 37.5W in the Philippines (FOB) - 2022
In 2022, the average export price for electric motors amounted to $44 per unit, growing by 3.9% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for electric motors increased by +64.6% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by 51% against the previous year. As a result, the export price attained the peak level of $51 per unit. From 2016 to 2022, the average export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($65 per unit), while the average price for exports to Vietnam ($11 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 (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Electric Motors; of an Output Not Exceeding 37.5W in the Philippines (CIF) - 2022
In 2022, the average import price for electric motors amounted to $4.9 per unit, shrinking by -18.4% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 46% against the previous year. Over the period under review, average import prices attained the peak figure at $9.9 per unit in 2019; however, from 2020 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hong Kong SAR ($14 per unit), while the price for Vietnam ($2 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+9.2%), while the prices for the other major suppliers experienced mixed trend patterns.
Exports of Electric Motors; of an Output Not Exceeding 37.5W in the Philippines
In 2022, after three years of growth, there was significant decline in shipments abroad of electric motors, when their volume decreased by -8% to 3.9M units. The total export volume increased at an average annual rate of +8.0% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 20%. As a result, the exports attained the peak of 4.2M units, and then shrank in the following year.
In value terms, exports of electric motors dropped slightly to $171M in 2022. Overall, exports, however, recorded a significant increase. The pace of growth appeared the most rapid in 2021 when exports increased by 57%. As a result, the exports attained the peak of $179M, and then fell in the following year.
| Export of Electric Motors; of an Output Not Exceeding 37.5W in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 10.6 | 51.6 | 107 | 89.3 | 103.5% |
| China | 23.0 | 17.8 | 19.6 | 17.4 | -8.9% |
| United States | 26.4 | 15.5 | 15.8 | 13.5 | -20.0% |
| South Korea | 4.1 | 8.0 | 10.9 | 8.1 | 25.5% |
| Vietnam | 0.4 | 0.1 | 2.2 | 7.7 | 168.0% |
| Spain | N/A | N/A | N/A | 6.9 | 0% |
| India | 0.7 | 0.3 | 2.0 | 6.7 | 112.3% |
| Italy | N/A | 0.1 | 1.6 | 5.5 | 641.6% |
| Germany | N/A | 10.6 | 11.6 | 5.3 | -29.3% |
| Thailand | 9.2 | 1.4 | 0.6 | 2.0 | -39.9% |
| Others | 11.6 | 8.6 | 8.3 | 8.9 | -8.5% |
| Total | 86.0 | 114 | 179 | 171 | 25.7% |
Top Export Markets for Electric Motors; of an Output Not Exceeding 37.5W from the Philippines in 2022:
- Japan (1379.3K units)
- Vietnam (672.6K units)
- United States (391.4K units)
- China (377.1K units)
- South Korea (258.0K units)
- India (121.6K units)
- Thailand (115.7K units)
- Spain (110.5K units)
- Italy (94.8K units)
- Germany (83.8K units)
Imports of Electric Motors; of an Output Not Exceeding 37.5W in the Philippines
In 2022, the amount of electric motors imported into the Philippines soared to 25M units, rising by 81% compared with the previous year's figure. Over the period under review, imports recorded a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of electric motors surged to $121M in 2022. In general, imports continue to indicate modest growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Electric Motors; of an Output Not Exceeding 37.5W in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | 36.2 | 3.3 | 14.4 | 44.6 | 7.2% |
| China | 16.0 | 12.8 | 16.4 | 27.1 | 19.2% |
| Singapore | 18.0 | 12.2 | 15.5 | 16.2 | -3.5% |
| Hong Kong SAR | 13.8 | 7.9 | 11.5 | 7.7 | -17.7% |
| Japan | 10.9 | 5.5 | 8.4 | 7.5 | -11.7% |
| Taiwan (Chinese) | 2.7 | 2.6 | 1.9 | 1.6 | -16.0% |
| Vietnam | 3.9 | 3.2 | 2.4 | 1.4 | -28.9% |
| Others | 14.5 | 10.8 | 11.7 | 15.1 | 1.4% |
| Total | 116 | 58.3 | 82.2 | 121 | 1.4% |
Top Suppliers of Electric Motors; of an Output Not Exceeding 37.5W to the Philippines in 2022:
- China (12.9M units)
- Thailand (5.6M units)
- Singapore (2.5M units)
- Japan (1.2M units)
- Vietnam (0.7M units)
- Hong Kong SAR (0.6M units)
- Taiwan (Chinese) (0.3M units)
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