Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the Philippines - 2022
Contents:
- Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the Philippines (CIF) - 2022
- Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the Philippines (FOB) - 2022
- Imports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the Philippines
- Exports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the Philippines
Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the Philippines (CIF) - 2022
In 2022, the average import price for machines and mechanical appliances; parts, of those having individual functionses amounted to $28,430 per ton, with a decrease of -3.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 23% against the previous year. The import price peaked at $35,132 per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($193,067 per ton), while the price for Indonesia ($6,198 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the Philippines (FOB) - 2022
In 2022, the average export price for machines and mechanical appliances; parts, of those having individual functionses amounted to $71,540 per ton, surging by 13% against the previous year. Over the period under review, the export price posted a strong increase. The pace of growth appeared the most rapid in 2017 when the average export price increased by 45%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($262,145 per ton), while the average price for exports to Japan ($27,113 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 the United States (+23.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the Philippines
In 2022, the amount of machines and mechanical appliances; parts, of those having individual functionses imported into the Philippines dropped to 11K tons, which is down by -13.3% on 2021 figures. Overall, imports faced a abrupt shrinkage. The growth pace was the most rapid in 2021 with an increase of 21% against the previous year.
In value terms, imports of machines and mechanical appliances; parts, of those having individual functionses dropped remarkably to $318M in 2022. Over the period under review, imports faced a deep reduction. The pace of growth appeared the most rapid in 2021 with an increase of 16% against the previous year.
| Import of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 267 | 128 | 158 | 145 | -18.4% |
| China | 46.8 | 32.4 | 33.9 | 31.5 | -12.4% |
| South Korea | 44.9 | 18.4 | 23.1 | 21.7 | -21.5% |
| Malaysia | 16.3 | 11.0 | 14.9 | 15.6 | -1.5% |
| Singapore | 24.1 | 16.4 | 18.6 | 15.0 | -14.6% |
| Hong Kong SAR | 31.8 | 29.5 | 25.5 | 14.8 | -22.5% |
| Taiwan (Chinese) | 13.4 | 16.6 | 17.4 | 10.1 | -9.0% |
| Italy | 2.6 | 6.7 | 6.3 | 6.6 | 36.4% |
| Thailand | 16.9 | 12.8 | 6.2 | 4.3 | -36.6% |
| Indonesia | 1.6 | 0.7 | 2.0 | 1.6 | 0.0% |
| Others | 88.1 | 54.6 | 75.0 | 52.4 | -15.9% |
| Total | 553 | 327 | 381 | 318 | -16.8% |
Top Suppliers of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions to the Philippines in 2022:
- Japan (5.2K tons)
- China (1.9K tons)
- South Korea (0.9K tons)
- Malaysia (0.8K tons)
- Taiwan (Chinese) (0.4K tons)
- Hong Kong SAR (0.4K tons)
- Singapore (0.3K tons)
- Indonesia (0.3K tons)
- Italy (0.2K tons)
- Thailand (0.2K tons)
Exports of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the Philippines
For the third consecutive year, the Philippines recorded decline in overseas shipments of machines and mechanical appliances; parts, of those having individual functionses, which decreased by -14.7% to 749 tons in 2022. In general, exports continue to indicate a dramatic downturn. The smallest decline of -10.7% was in 2021.
In value terms, exports of machines and mechanical appliances; parts, of those having individual functionses dropped modestly to $54M in 2022. Overall, exports continue to indicate a deep downturn. The pace of growth was the most pronounced in 2021 with an increase of 0.4% against the previous year.
| Export of Machines and Mechanical Appliances; Parts, of Those Having Individual Functions in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 20.0 | 14.6 | 15.7 | 13.6 | -12.1% |
| Malaysia | 8.9 | 6.1 | 3.4 | 10.0 | 4.0% |
| Costa Rica | N/A | N/A | 2.6 | 6.3 | 142.3% |
| United States | 4.0 | 7.0 | 6.9 | 6.1 | 15.1% |
| Vietnam | 21.6 | 8.7 | 7.9 | 4.3 | -41.6% |
| China | 12.9 | 6.4 | 2.1 | 3.0 | -38.5% |
| Mexico | 3.3 | 1.3 | 1.8 | 1.9 | -16.8% |
| Taiwan (Chinese) | 2.3 | 1.8 | 5.6 | 0.9 | -26.9% |
| South Korea | 1.8 | 2.9 | 1.4 | 0.6 | -30.7% |
| Others | 9.8 | 6.7 | 8.4 | 6.7 | -11.9% |
| Total | 84.5 | 55.5 | 55.7 | 53.6 | -14.1% |
Top Export Markets for Machines and Mechanical Appliances; Parts, of Those Having Individual Functions from the Philippines in 2022:
- Japan (503.4 tons)
- Malaysia (57.2 tons)
- Costa Rica (43.5 tons)
- United States (29.2 tons)
- Mexico (22.1 tons)
- Taiwan (Chinese) (16.4 tons)
- Vietnam (16.3 tons)
- South Korea (13.6 tons)
- China (11.9 tons)
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