Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in the Philippines - 2023
Contents:
- Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in the Philippines (CIF) - 2022
- Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in the Philippines (FOB) - 2022
- Imports of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in the Philippines
- Exports of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in the Philippines
Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in the Philippines (CIF) - 2022
In 2022, the average import price for rubber; vulcanised, conveyor belts or belting, reinforced only with textile materialses amounted to $4,314 per ton, increasing by 7.4% against the previous year. Over the period under review, the import price, however, showed a deep downturn. The growth pace was the most rapid in 2014 an increase of 21%. The import price peaked at $8,134 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
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 South Korea ($7,569 per ton), while the price for Hungary ($3,044 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+1.8%), while the prices for the other major suppliers experienced a decline.
Price for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in the Philippines (FOB) - 2022
In 2022, the average export price for rubber; vulcanised, conveyor belts or belting, reinforced only with textile materialses amounted to $8,907 per ton, picking up by 11% against the previous year. Over the period under review, the export price showed a buoyant increase. The most prominent rate of growth was recorded in 2019 an increase of 155%. As a result, the export price attained the peak level of $12,354 per ton. From 2020 to 2022, the average export prices failed to regain momentum.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($12,049 per ton), while the average price for exports to Mexico amounted to $2,353 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+0.4%), while the prices for the other major destinations experienced a decline.
Imports of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in the Philippines
After three years of growth, supplies from abroad of rubber; vulcanised, conveyor belts or belting, reinforced only with textile materialses decreased by -3.2% to 2.2K tons in 2022. The total import volume increased at an average annual rate of +2.6% from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 7.7%.
In value terms, imports of rubber; vulcanised, conveyor belts or belting, reinforced only with textile materialses expanded slightly to $9.5M in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern.
| Import of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 3.3 | 4.2 | 5.3 | 5.2 | 16.4% |
| Japan | 4.3 | 4.0 | 2.5 | 1.7 | -26.6% |
| Germany | 0.8 | 0.4 | 0.3 | 0.5 | -14.5% |
| Hungary | 0.1 | N/A | 0.1 | 0.4 | 58.7% |
| South Korea | N/A | N/A | N/A | 0.3 | 0% |
| Vietnam | 0.3 | 0.1 | 0.3 | 0.1 | -30.7% |
| India | 0.3 | 0.2 | 0.2 | N/A | -18.4% |
| Others | 0.6 | 0.7 | 0.4 | 1.2 | 26.0% |
| Total | 9.7 | 9.5 | 9.2 | 9.5 | -0.7% |
Top Suppliers of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials to the Philippines in 2022:
- China (1613.3 tons)
- Japan (254.7 tons)
- Hungary (135.1 tons)
- Germany (77.6 tons)
- South Korea (43.4 tons)
- Vietnam (29.2 tons)
- India (4.9 tons)
Exports of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in the Philippines
For the fourth consecutive year, the Philippines recorded growth in overseas shipments of rubber; vulcanised, conveyor belts or belting, reinforced only with textile materialses, which increased by 53% to 11 tons in 2022. In general, exports saw a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 285%. The exports peaked in 2022 and are likely to see steady growth in the near future.
In value terms, exports of rubber; vulcanised, conveyor belts or belting, reinforced only with textile materialses skyrocketed to $97K in 2022. Overall, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 223% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are likely to see gradual growth in the immediate term.
| Export of Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Kuwait | 16.8 | 13.9 | 48.8 | 82.5 | 70.0% |
| Mexico | 2.8 | 0.8 | 2.7 | 9.3 | 49.2% |
| Papua New Guinea | N/A | N/A | 1.2 | N/A | 0% |
| Others | 2.8 | 3.1 | 4.8 | 5.4 | 24.5% |
| Total | 22.3 | 17.8 | 57.5 | 97.1 | 63.3% |
Top Export Markets for Rubber; Vulcanised, Conveyor Belts or Belting, Reinforced Only with Textile Materials from the Philippines in 2022:
- Kuwait (6.8 tons)
- Mexico (3.9 tons)
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