Price for Household or Laundry-Type Washing Machine in the Philippines - 2023
Contents:
- Price for Household or Laundry-Type Washing Machine in the Philippines (CIF) - 2022
- Imports of Household or Laundry-Type Washing Machine in the Philippines
Price for Household or Laundry-Type Washing Machine in the Philippines (CIF) - 2022
The average import price for household or laundry-type washing machines stood at $312 per unit in 2021, growing by 6.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.3%. The pace of growth appeared the most rapid in 2018 an increase of 17% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the near future.
There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($346 per unit), while the price for Vietnam ($196 per unit) was amongst the lowest.
From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Household or Laundry-Type Washing Machine in the Philippines
In 2022, household or laundry-type washing machine imports into the Philippines dropped markedly to 324K units, declining by -20.9% against the previous year's figure. Overall, imports saw a deep downturn. The growth pace was the most rapid in 2021 with an increase of 25%. Imports peaked at 413K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, household or laundry-type washing machine imports fell dramatically to $87M in 2022. Over the period under review, imports showed a abrupt downturn. The growth pace was the most rapid in 2021 with an increase of 34% against the previous year. As a result, imports reached the peak of $128M, and then shrank sharply in the following year.
| Import of Household or Laundry-Type Washing Machine in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | CAGR, 2019-2021 | |
| China | 50.8 | 42.5 | 63.7 | 12.0% | |
| Vietnam | 18.3 | 17.1 | 26.5 | 20.3% | |
| Thailand | 28.8 | 21.2 | 22.7 | -11.2% | |
| South Korea | 10.3 | 5.8 | 6.7 | -19.3% | |
| United States | 6.5 | 4.1 | 2.7 | -35.5% | |
| India | 1.1 | 2.1 | 2.4 | 47.7% | |
| Others | 4.5 | 2.6 | 3.2 | -15.7% | |
| Total | 120 | 95.3 | 128 | 3.3% | |
Top Suppliers of Household or Laundry-Type Washing Machine to the Philippines in 2022:
- China (267.8K units)
- Vietnam (135.1K units)
- Thailand (103.3K units)
- South Korea (20.8K units)
- India (11.6K units)
- United States (7.7K units)
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