Price for Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas in the Philippines - 2023
Contents:
- Price for Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas in the Philippines (CIF) - 2022
- Price for Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas in the Philippines (FOB) - 2022
- Imports of Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas in the Philippines
- Exports of Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas in the Philippines
Price for Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas in the Philippines (CIF) - 2022
In 2022, the average import price for heaters; instantaneous or storage water heaters, non-electric, other than gasses amounted to $105 per unit, with an increase of 31% against the previous year. Over the period under review, the import price continues to indicate a resilient increase. The pace of growth appeared the most rapid in 2018 an increase of 100%. As a result, import price reached the peak level of $141 per unit. From 2019 to 2022, the average import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($490 per unit), while the price for Indonesia ($25 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 (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas in the Philippines (FOB) - 2022
In 2022, the average export price for heaters; instantaneous or storage water heaters, non-electric, other than gasses amounted to $11 per unit, dropping by -93.1% against the previous year. Over the period under review, the export price continues to indicate a precipitous decline. The growth pace was the most rapid in 2017 when the average export price increased by 165%. As a result, the export price reached the peak level of $204 per unit. From 2018 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 Indonesia ($500 per unit), while the average price for exports to Denmark ($0.4 per unit) was amongst the lowest.
From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+52.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas in the Philippines
In 2022, imports of heaters; instantaneous or storage water heaters, non-electric, other than gasses into the Philippines shrank significantly to 17K units, waning by -56.9% compared with 2021. In general, imports recorded a dramatic downturn. The growth pace was the most rapid in 2021 when imports increased by 134% against the previous year. As a result, imports attained the peak of 41K units, and then fell dramatically in the following year.
In value terms, imports of heaters; instantaneous or storage water heaters, non-electric, other than gasses declined remarkably to $1.8M in 2022. Overall, imports continue to indicate a abrupt contraction. The growth pace was the most rapid in 2021 with an increase of 108% against the previous year. As a result, imports attained the peak of $3.2M, and then fell sharply in the following year.
| Import of Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1,196 | 643 | 1,285 | 359 | -33.0% |
| United States | 253 | 92.3 | 130 | 315 | 7.6% |
| Hong Kong SAR | 11.1 | 7.4 | 3.9 | 165 | 145.9% |
| Taiwan (Chinese) | 6.9 | 98.7 | 18.0 | 126 | 163.3% |
| South Korea | 306 | 93.3 | 451 | 28.5 | -54.7% |
| Indonesia | N/A | N/A | N/A | 20.3 | 0% |
| Others | 1,032 | 623 | 1,355 | 816 | -7.5% |
| Total | 2,804 | 1,557 | 3,243 | 1,830 | -13.3% |
Top Suppliers of Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas to the Philippines in 2022:
- China (13.9K units)
- Indonesia (0.8K units)
- Taiwan (Chinese) (0.7K units)
- United States (0.6K units)
- Hong Kong SAR (0.5K units)
- South Korea (0.1K units)
Exports of Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas in the Philippines
Exports of heaters; instantaneous or storage water heaters, non-electric, other than gasses from the Philippines skyrocketed to 11K units in 2022, growing by 1,901% against the year before. Overall, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of heaters; instantaneous or storage water heaters, non-electric, other than gasses soared to $126K in 2022. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 409% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Saudi Arabia | N/A | N/A | N/A | 62.6 | 0% |
| Canada | N/A | N/A | 3.4 | 13.0 | 282.4% |
| Vietnam | N/A | N/A | N/A | 2.0 | 0% |
| Hong Kong SAR | N/A | N/A | N/A | 2.0 | 0% |
| Netherlands | N/A | N/A | N/A | 1.0 | 0% |
| Curacao | N/A | N/A | 0.8 | 1.0 | 25.0% |
| Denmark | N/A | N/A | N/A | 1.0 | 0% |
| Others | 25.4 | 17.9 | 87.0 | 43.0 | 19.2% |
| Total | 25.4 | 17.9 | 91.2 | 126 | 70.5% |
Top Export Markets for Heaters; Instantaneous or Storage Water Heaters, Non-Electric, Other than Gas from the Philippines in 2022:
- Canada (4.7K units)
- Denmark (2.5K units)
- Saudi Arabia (1.2K units)
- Vietnam (0.6K units)
- Hong Kong SAR (0.6K units)
- Netherlands (0.5K units)
- Curacao (0.3K units)
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