Price for Track Suits; of Synthetic Fibres, Knitted or Crocheted in the Philippines - 2023

Contents:

1. Price for Track Suits; of Synthetic Fibres, Knitted or Crocheted in the Philippines (CIF) - 2022
2. Price for Track Suits; of Synthetic Fibres, Knitted or Crocheted in the Philippines (FOB) - 2022
3. Imports of Track Suits; of Synthetic Fibres, Knitted or Crocheted in the Philippines
4. Exports of Track Suits; of Synthetic Fibres, Knitted or Crocheted in the Philippines

Price for Track Suits; of Synthetic Fibres, Knitted or Crocheted in the Philippines (CIF) - 2022

In 2022, the average import price for track suits; of synthetic fibres, knitted or crocheteds amounted to $16 per unit, with an increase of 15% against the previous year. Overall, the import price, however, continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2021 an increase of 50% against the previous year. The import price peaked at $99 per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 ($34 per unit), while the price for Hong Kong SAR ($6.6 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+2.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Track Suits; of Synthetic Fibres, Knitted or Crocheted in the Philippines (FOB) - 2022

The average export price for track suits; of synthetic fibres, knitted or crocheteds stood at $2.8 per unit in 2022, which is down by -46.3% against the previous year. Overall, the export price showed a abrupt setback. The most prominent rate of growth was recorded in 2016 an increase of 125%. Over the period under review, the average export prices attained the peak figure at $25 per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($3.2 per unit), while the average price for exports to the United States totaled $2.6 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+7.4%), while the prices for the other major destinations experienced a decline.

Imports of Track Suits; of Synthetic Fibres, Knitted or Crocheted in the Philippines

In 2022, supplies from abroad of track suits; of synthetic fibres, knitted or crocheteds increased by 65% to 7.1K units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, showed a dramatic slump. Over the period under review, imports of hit record highs at 19K units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of track suits; of synthetic fibres, knitted or crocheteds skyrocketed to $113K in 2022. Overall, imports, however, continue to indicate a drastic downturn. Over the period under review, imports of hit record highs at $204K in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Top Suppliers of Track Suits; of Synthetic Fibres, Knitted or Crocheted to the Philippines in 2022:

1. Vietnam (2729.0 units)
2. South Korea (1181.0 units)
3. Indonesia (1136.0 units)
4. Thailand (735.0 units)
5. Singapore (520.0 units)
6. China (337.0 units)
7. Cambodia (229.0 units)
8. Hong Kong SAR (48.0 units)

Exports of Track Suits; of Synthetic Fibres, Knitted or Crocheted in the Philippines

In 2022, the amount of track suits; of synthetic fibres, knitted or crocheteds exported from the Philippines surged to 16K units, with an increase of 31% compared with 2021. Over the period under review, exports, however, saw a dramatic curtailment. The growth pace was the most rapid in 2021 when exports increased by 1,868%. Over the period under review, the exports of hit record highs at 299K units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, exports of track suits; of synthetic fibres, knitted or crocheteds declined rapidly to $44K in 2022. In general, exports, however, saw a precipitous decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 2,819% against the previous year. The exports peaked at $542K in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Top Export Markets for Track Suits; of Synthetic Fibres, Knitted or Crocheted from the Philippines in 2022:

1. United States (11.5K units)
2. Canada (4.3K units)

Source: IndexBox Market Intelligence Platform