Price for Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor in the Philippines - 2023
Contents:
- Price for Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor in the Philippines (CIF) - 2023
- Price for Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor in the Philippines (FOB) - 2022
- Imports of Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor in the Philippines
- Exports of Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor in the Philippines
Price for Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor in the Philippines (CIF) - 2023
In July 2023, the average import price for press-fasteners, snap-fasteners, press-studs and parts therefor amounted to $3,004 per ton, declining by -25.7% against the previous month. Overall, the import price, however, posted a significant increase. The pace of growth appeared the most rapid in February 2023 an increase of 5,073% against the previous month. As a result, import price reached the peak level of $30,317 per ton. From March 2023 to July 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was South Korea ($9,629 per ton), while the price for China totaled $1,719 per ton.
From November 2022 to July 2023, the most notable rate of growth in terms of prices was attained by China (+15.5%).
Price for Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor in the Philippines (FOB) - 2022
In 2022, the average export price for press-fasteners, snap-fasteners, press-studs and parts therefor amounted to $10,333 per ton, shrinking by -69% against the previous year. In general, the export price recorded a drastic downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 411% against the previous year. As a result, the export price reached the peak level of $172,936 per ton. From 2019 to 2022, the average export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Papua New Guinea ($30,952 per ton), while the average price for exports to Brunei Darussalam stood at $711 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+20.8%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor in the Philippines
In 2022, supplies from abroad of press-fasteners, snap-fasteners, press-studs and parts therefor decreased by -8.9% to 4.6K tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, saw a significant expansion. The growth pace was the most rapid in 2020 with an increase of 142%. As a result, imports attained the peak of 5.1K tons. From 2021 to 2022, the growth of imports of failed to regain momentum.
In value terms, imports of press-fasteners, snap-fasteners, press-studs and parts therefor fell to $7.2M in 2022. Overall, total imports indicated a significant increase from 2019 to 2022: its value increased at an average annual rate of +20.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 86% against the previous year.
| Import of Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.8 | 6.9 | 6.6 | 5.9 | 28.2% |
| Taiwan (Chinese) | N/A | N/A | 0.2 | 0.2 | 0.0% |
| Others | 1.3 | 0.7 | 1.0 | 1.2 | -2.6% |
| Total | 4.1 | 7.6 | 7.8 | 7.2 | 20.6% |
Top Suppliers of Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor to the Philippines in 2022:
- China (4.4K tons)
- Taiwan (Chinese) (0.1K tons)
Exports of Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor in the Philippines
In 2022, shipments abroad of press-fasteners, snap-fasteners, press-studs and parts therefor decreased by -90.8% to 66 kg, falling for the second year in a row after two years of growth. Overall, exports showed a dramatic slump. The pace of growth appeared the most rapid in 2020 when exports increased by 207% against the previous year. As a result, the exports attained the peak of 1.4 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of press-fasteners, snap-fasteners, press-studs and parts therefor contracted dramatically to $682 in 2022. Over the period under review, exports recorded a significant contraction. The pace of growth was the most pronounced in 2020 when exports increased by 447%. As a result, the exports reached the peak of $53K. From 2021 to 2022, the growth of the exports of failed to regain momentum.
| Export of Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Papua New Guinea | 0.1 | N/A | 1.0 | 0.7 | 91.3% |
| Thailand | 1.5 | N/A | N/A | N/A | 0% |
| Vietnam | N/A | 8.6 | N/A | N/A | 0% |
| Japan | 4.5 | 28.9 | 16.6 | N/A | 92.1% |
| Cambodia | N/A | 11.7 | 2.0 | N/A | -82.9% |
| Brunei Darussalam | N/A | N/A | N/A | N/A | 0% |
| Indonesia | 0.1 | 3.1 | 1.0 | N/A | 216.2% |
| Oman | N/A | N/A | 1.4 | N/A | 0% |
| Taiwan (Chinese) | 3.3 | N/A | N/A | N/A | 0% |
| Others | 0.3 | 0.6 | 1.9 | N/A | 151.7% |
| Total | 9.7 | 53.0 | 23.8 | 0.7 | -58.4% |
Top Export Markets for Press-Fasteners, Snap-Fasteners, Press-Studs and Parts Therefor from the Philippines in 2022:
- Brunei Darussalam (45.0 kg)
- Papua New Guinea (21.0 kg)
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