Price for Non-Furniture Refrigerating or Freezing Equipment in the Philippines - 2023
Contents:
- Price for Non-Furniture Refrigerating or Freezing Equipment in the Philippines (CIF) - 2022
- Price for Non-Furniture Refrigerating or Freezing Equipment in the Philippines (FOB) - 2022
- Imports of Non-Furniture Refrigerating or Freezing Equipment in the Philippines
- Exports of Non-Furniture Refrigerating or Freezing Equipment in the Philippines
Price for Non-Furniture Refrigerating or Freezing Equipment in the Philippines (CIF) - 2022
In 2022, the average import price for non-furniture refrigerating or freezing equipment amounted to $250 per unit, surging by 3.4% against the previous year. Over the period under review, the import price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2018 an increase of 156%. The import price peaked in 2022 and is expected to retain growth in the immediate term.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Australia ($240 per unit) and Thailand ($240 per unit), while the price for Singapore ($240 per unit) and Malaysia ($240 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+17.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Non-Furniture Refrigerating or Freezing Equipment in the Philippines (FOB) - 2022
In 2022, the average export price for non-furniture refrigerating or freezing equipment amounted to $254 per unit, which is down by -5% against the previous year. Overall, the export price, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2018 an increase of 149% against the previous year. Over the period under review, the average export prices reached the peak figure at $268 per unit in 2021, and then contracted in the following year.
As there is only one major export destination, the average price level is determined by prices for Japan.
From 2012 to 2022, the rate of growth in terms of prices for Japan amounted to +9.1% per year.
Imports of Non-Furniture Refrigerating or Freezing Equipment in the Philippines
In 2022, supplies from abroad of non-furniture refrigerating or freezing equipment increased by 3.3% to 257K units for the first time since 2019, thus ending a two-year declining trend. Overall, imports, however, saw a deep slump. Imports peaked at 392K units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, non-furniture refrigerating or freezing equipment imports totaled $64M in 2022. Over the period under review, imports, however, continue to indicate a drastic downturn. Over the period under review, imports hit record highs at $84M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Non-Furniture Refrigerating or Freezing Equipment in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 40.0 | 23.5 | 33.6 | 38.8 | -1.0% |
| United States | 14.4 | 12.5 | 4.0 | 6.3 | -24.1% |
| South Korea | 7.3 | 6.0 | 5.6 | 4.4 | -15.5% |
| Thailand | 3.3 | 3.2 | 1.1 | 2.4 | -10.1% |
| Japan | 3.8 | 1.9 | 3.3 | 2.0 | -19.3% |
| Italy | 3.2 | 3.9 | 2.7 | 1.7 | -19.0% |
| Australia | 0.6 | 1.4 | 0.6 | 1.6 | 38.7% |
| Taiwan (Chinese) | 2.6 | 1.0 | 1.9 | 1.4 | -18.6% |
| Singapore | 0.9 | 0.2 | 1.8 | 1.2 | 10.1% |
| Malaysia | 1.3 | 1.6 | 0.6 | 1.0 | -8.4% |
| Others | 6.3 | 13.2 | 4.7 | 3.3 | -19.4% |
| Total | 83.6 | 68.4 | 60.0 | 64.1 | -8.5% |
Top Suppliers of Non-Furniture Refrigerating or Freezing Equipment to the Philippines in 2022:
- China (161.9K units)
- United States (26.4K units)
- South Korea (18.4K units)
- Thailand (10.2K units)
- Japan (8.3K units)
- Italy (7.0K units)
- Australia (6.6K units)
- Taiwan (Chinese) (5.8K units)
- Singapore (4.9K units)
- Malaysia (4.2K units)
Exports of Non-Furniture Refrigerating or Freezing Equipment in the Philippines
Non-furniture refrigerating or freezing equipment exports from the Philippines skyrocketed to 24K units in 2022, growing by 73% on the year before. Overall, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, non-furniture refrigerating or freezing equipment exports skyrocketed to $6M in 2022. Over the period under review, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Non-Furniture Refrigerating or Freezing Equipment in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 3.0 | 2.9 | 3.5 | 5.8 | 24.6% |
| Others | 0.1 | N/A | 0.1 | 0.2 | 26.0% |
| Total | 3.1 | 2.9 | 3.6 | 6.0 | 24.6% |
Top Export Markets for Non-Furniture Refrigerating or Freezing Equipment from the Philippines in 2022:
- Japan (23.8K units)
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