Price for Mineral Substances Not Elsewhere Specified or Included in the Philippines - 2023
Contents:
- Price for Mineral Substances Not Elsewhere Specified or Included in the Philippines (FOB) - 2023
- Price for Mineral Substances Not Elsewhere Specified or Included in the Philippines (CIF) - 2022
- Exports of Mineral Substances Not Elsewhere Specified or Included in the Philippines
- Imports of Mineral Substances Not Elsewhere Specified or Included in the Philippines
Price for Mineral Substances Not Elsewhere Specified or Included in the Philippines (FOB) - 2023
In September 2023, the average export price for mineral substances not elsewhere specified or includeds amounted to $525 per ton, picking up by 51% against the previous month. Over the period under review, export price indicated modest growth from September 2022 to September 2023: its price increased at an average monthly rate of +1.7% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on September 2023 figures, export price for mineral substances not elsewhere specified or includeds increased by +95.9% against July 2023 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Prices varied noticeably by the country of destination: the country with the highest price was the United States ($2,280 per ton), while the average price for exports to Taiwan (Chinese) ($150 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+0.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Mineral Substances Not Elsewhere Specified or Included in the Philippines (CIF) - 2022
In 2022, the average import price for mineral substances not elsewhere specified or includeds amounted to $1,114 per ton, flattening at the previous year. Overall, the import price, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2021 when the average import price increased by 107%. As a result, import price attained the peak level of $1,114 per ton, leveling off in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($2,272 per ton), while the price for Malaysia ($325 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Mineral Substances Not Elsewhere Specified or Included in the Philippines
In 2022, the amount of mineral substances not elsewhere specified or includeds exported from the Philippines surged to 8.9K tons, with an increase of 20% compared with the previous year. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 48%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
In value terms, exports of mineral substances not elsewhere specified or includeds surged to $3.2M in 2022. Over the period under review, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Mineral Substances Not Elsewhere Specified or Included in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 1,137 | 903 | 1,605 | 2,423 | 28.7% |
| Taiwan (Chinese) | 260 | 319 | 408 | 334 | 8.7% |
| Singapore | 35.3 | 68.2 | 159 | 145 | 60.2% |
| Malaysia | 11.2 | 13.2 | 28.7 | 133 | 128.1% |
| Vietnam | 3.9 | 40.7 | 67.8 | 87.0 | 181.5% |
| Others | 80.8 | 420 | 45.0 | 38.6 | -21.8% |
| Total | 1,528 | 1,763 | 2,314 | 3,159 | 27.4% |
Top Export Markets for Mineral Substances Not Elsewhere Specified or Included from the Philippines in 2022:
- Indonesia (5.9K tons)
- Taiwan (Chinese) (2.1K tons)
- Malaysia (0.5K tons)
- Vietnam (0.2K tons)
- Singapore (0.1K tons)
Imports of Mineral Substances Not Elsewhere Specified or Included in the Philippines
Imports of mineral substances not elsewhere specified or includeds into the Philippines expanded remarkably to 1.8K tons in 2022, picking up by 13% against the previous year. In general, imports, however, recorded a mild decline. The growth pace was the most rapid in 2020 with an increase of 13%. As a result, imports reached the peak of 2.1K tons. From 2021 to 2022, the growth of imports of remained at a lower figure.
In value terms, imports of mineral substances not elsewhere specified or includeds rose markedly to $2M in 2022. Overall, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +6.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +73.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 54%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Mineral Substances Not Elsewhere Specified or Included in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Taiwan (Chinese) | 562 | 481 | 869 | 977 | 20.2% |
| Japan | 254 | 282 | 386 | 454 | 21.4% |
| China | 209 | 255 | 168 | 256 | 7.0% |
| Malaysia | 269 | 2.5 | 26.2 | 80.5 | -33.1% |
| South Africa | N/A | N/A | N/A | 14.2 | 0% |
| Italy | 49.3 | 14.5 | 138 | N/A | 67.3% |
| Others | 290 | 104 | 165 | 196 | -12.2% |
| Total | 1,633 | 1,139 | 1,753 | 1,977 | 6.6% |
Top Suppliers of Mineral Substances Not Elsewhere Specified or Included to the Philippines in 2022:
- China (754.0 tons)
- Taiwan (Chinese) (429.8 tons)
- Malaysia (247.6 tons)
- Japan (228.0 tons)
- South Africa (40.0 tons)
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