Price for Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in the Philippines - 2023
Contents:
- Price for Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in the Philippines (CIF) - 2022
- Imports of Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in the Philippines
Price for Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in the Philippines (CIF) - 2022
The average import price for sound recording or reproducing apparatus; turntables (record-decks)s stood at $17 per unit in 2022, which is down by -13.2% against the previous year. Over the period under review, the import price showed a abrupt contraction. The most prominent rate of growth was recorded in 2018 an increase of 221%. As a result, import price reached the peak level of $94 per unit. From 2019 to 2022, the average 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 UK ($43 per unit), while the price for China ($7.6 per unit) was amongst the lowest.
From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+32.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Imports of Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in the Philippines
For the fourth year in a row, the Philippines recorded growth in overseas purchases of sound recording or reproducing apparatus; turntables (record-decks)s, which increased by 30% to 20K units in 2022. Overall, imports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 331%. Imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, imports of sound recording or reproducing apparatus; turntables (record-decks)s expanded remarkably to $356K in 2022. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 187% against the previous year. Over the period under review, imports of reached the maximum in 2022 and are likely to continue growth in the near future.
| Import of Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Kingdom | 43.7 | 18.7 | 213 | 206 | 67.7% |
| China | 0.6 | 67.5 | 81.8 | 104 | 457.6% |
| Hong Kong SAR | 1.7 | 4.1 | 0.4 | 13.3 | 98.5% |
| Canada | N/A | N/A | 6.5 | 12.8 | 96.9% |
| United States | 53.4 | 4.5 | 9.0 | 4.7 | -55.5% |
| Others | 15.1 | 15.0 | 5.4 | 15.1 | 0.0% |
| Total | 115 | 110 | 316 | 356 | 45.7% |
Top Suppliers of Sound Recording or Reproducing Apparatus; Turntables (Record-Decks) to the Philippines in 2022:
- China (13.8K units)
- United Kingdom (4.8K units)
- Hong Kong SAR (0.8K units)
- Canada (0.4K units)
- United States (0.2K units)
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