Price for Machinery; Parts of the Machinery of Heading No. 8425 in the Philippines - 2023
Contents:
- Price for Machinery; Parts of the Machinery of Heading No. 8425 in the Philippines (FOB) - 2022
- Price for Machinery; Parts of the Machinery of Heading No. 8425 in the Philippines (CIF) - 2022
- Exports of Machinery; Parts of the Machinery of Heading No. 8425 in the Philippines
- Imports of Machinery; Parts of the Machinery of Heading No. 8425 in the Philippines
Price for Machinery; Parts of the Machinery of Heading No. 8425 in the Philippines (FOB) - 2022
The average export price for machinery; parts of the machinery of heading no. 8425 stood at $21,384 per ton in 2022, approximately mirroring the previous year. In general, the export price continues to indicate a perceptible reduction. The pace of growth was the most pronounced in 2017 an increase of 360% against the previous year. Over the period under review, the average export prices hit record highs at $118,658 per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($37,736 per ton), while the average price for exports to Japan ($21,375 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+1.9%), while the prices for the other major destinations experienced a decline.
Price for Machinery; Parts of the Machinery of Heading No. 8425 in the Philippines (CIF) - 2022
The average import price for machinery; parts of the machinery of heading no. 8425 stood at $14,982 per ton in 2022, surging by 8.7% against the previous year. In general, the import price saw a pronounced increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 40% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the near future.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were South Africa ($14,969 per ton) and Japan ($14,969 per ton), while the price for Singapore ($14,967 per ton) and Malaysia ($14,968 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+75.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Machinery; Parts of the Machinery of Heading No. 8425 in the Philippines
In 2022, exports of machinery; parts of the machinery of heading no. 8425 from the Philippines declined rapidly to 248 tons, waning by -25.2% compared with the previous year's figure. Overall, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 192,730% against the previous year. As a result, the exports attained the peak of 332 tons, and then fell markedly in the following year.
In value terms, exports of machinery; parts of the machinery of heading no. 8425 contracted remarkably to $5.3M in 2022. In general, exports, however, posted a significant increase. The growth pace was the most rapid in 2021 when exports increased by 155,513%. As a result, the exports attained the peak of $7.1M, and then shrank markedly in the following year.
| Export of Machinery; Parts of the Machinery of Heading No. 8425 in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | N/A | 0.2 | 2.5 | 1150.0% |
| Singapore | N/A | N/A | 2.7 | 2.2 | -18.5% |
| United States | 0.1 | N/A | 4.0 | 0.3 | 44.2% |
| Malaysia | N/A | N/A | 0.1 | 0.1 | 0.0% |
| Others | 0.1 | N/A | N/A | 0.1 | 0.0% |
| Total | 0.1 | N/A | 7.1 | 5.3 | 275.6% |
Top Export Markets for Machinery; Parts of the Machinery of Heading No. 8425 from the Philippines in 2022:
- China (118.8 tons)
- Singapore (103.7 tons)
- United States (15.9 tons)
- Malaysia (3.8 tons)
Imports of Machinery; Parts of the Machinery of Heading No. 8425 in the Philippines
For the third year in a row, the Philippines recorded decline in overseas purchases of machinery; parts of the machinery of heading no. 8425, which decreased by -19% to 155 tons in 2022. Overall, imports faced a precipitous decrease. The smallest decline of -15.8% was in 2021.
In value terms, imports of machinery; parts of the machinery of heading no. 8425 shrank to $2.3M in 2022. Over the period under review, imports continue to indicate a dramatic descent. The pace of growth was the most pronounced in 2021 with an increase of 0.4% against the previous year.
| Import of Machinery; Parts of the Machinery of Heading No. 8425 in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 656 | 478 | 559 | 469 | -10.6% |
| Japan | 867 | 390 | 541 | 400 | -22.7% |
| Hong Kong SAR | 1,098 | 89.1 | 175 | 314 | -34.1% |
| Malaysia | 53.9 | 23.1 | 149 | 194 | 53.3% |
| Germany | 1,336 | 469 | 66.4 | 150 | -51.8% |
| United States | 142 | 80.7 | 33.5 | 141 | -0.2% |
| Taiwan (Chinese) | 203 | 359 | 177 | 118 | -16.5% |
| South Africa | 11.1 | 5.0 | N/A | 118 | 119.9% |
| Thailand | 319 | 205 | 85.4 | 105 | -31.0% |
| Singapore | 166 | 309 | 220 | 69.0 | -25.4% |
| Others | 930 | 225 | 636 | 248 | -35.6% |
| Total | 5,781 | 2,633 | 2,643 | 2,326 | -26.2% |
Top Suppliers of Machinery; Parts of the Machinery of Heading No. 8425 to the Philippines in 2022:
- China (31.3 tons)
- Japan (26.7 tons)
- Hong Kong SAR (21.0 tons)
- Malaysia (13.0 tons)
- Germany (10.0 tons)
- United States (9.4 tons)
- Taiwan (Chinese) (7.9 tons)
- South Africa (7.9 tons)
- Thailand (7.0 tons)
- Singapore (4.6 tons)
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