Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in the Philippines - 2023

Contents:

1. Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in the Philippines (CIF) - 2022
2. Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in the Philippines (FOB) - 2022
3. Imports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in the Philippines
4. Exports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in the Philippines

Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in the Philippines (CIF) - 2022

In 2022, the average import price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs amounted to $8,695 per unit, with an increase of 12% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the average import price increased by 80%. The import price peaked in 2022 and is likely to continue growth in the near future.

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 Indonesia ($8,972 per unit), while the price for South Korea ($3,031 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+3.9%), while the prices for the other major suppliers experienced a decline.

Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in the Philippines (FOB) - 2022

In 2022, the average export price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs amounted to $8,028 per unit, picking up by 61% against the previous year. Overall, the export price showed a buoyant expansion. The growth pace was the most rapid in 2017 when the average export price increased by 1,031% against the previous year. As a result, the export price attained the peak level of $45,941 per unit. From 2018 to 2022, the average export prices remained at a somewhat 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 Germany ($33,333 per unit), while the average price for exports to Marshall Islands ($738 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+82.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in the Philippines

Imports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs into the Philippines soared to 28K units in 2022, jumping by 23% compared with the year before. The total import volume increased at an average annual rate of +9.6% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs soared to $241M in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +12.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.3% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc to the Philippines in 2022:

1. Indonesia (26.0K units)
2. China (0.9K units)
3. Thailand (0.5K units)

Exports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc in the Philippines

In 2022, exports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs from the Philippines surged to 103 units, increasing by 98% compared with the previous year. In general, exports enjoyed a mild expansion. The pace of growth was the most pronounced in 2021 when exports increased by 1,200% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, exports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity not exceeding 1000ccs surged to $827K in 2022. Overall, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2021 when exports increased by 1,689% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

Top Export Markets for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Not Exceeding 1000cc from the Philippines in 2022:

1. United States (62.0 units)
2. South Korea (25.0 units)
3. Japan (4.0 units)
4. Germany (3.0 units)
5. Sweden (2.0 units)

Source: IndexBox Market Intelligence Platform