Pumps; Parts Thereof Price in the Philippines - 2023
Contents:
- Pumps; Parts Thereof Price in the Philippines (CIF) - 2022
- Pumps; Parts Thereof Price in the Philippines (FOB) - 2022
- Pumps; Parts Thereof Imports in the Philippines
- Pumps; Parts Thereof Exports in the Philippines
Pumps; Parts Thereof Price in the Philippines (CIF) - 2022
In 2022, the average pumps; parts thereof import price amounted to $28,291 per ton, with a decrease of -5.7% against the previous year. Overall, the import price, however, enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2019 an increase of 75%. Over the period under review, average import prices attained the maximum at $31,731 per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Australia ($28,289 per ton) and Japan ($28,289 per ton), while the price for Italy ($28,288 per ton) and Singapore ($28,289 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+33.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Pumps; Parts Thereof Price in the Philippines (FOB) - 2022
The average pumps; parts thereof export price stood at $55,616 per ton in July 2022, remaining constant against the previous month. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2021 an increase of 1.1% month-to-month. The export price peaked at $55,616 per ton in February 2022; afterwards, it flattened through to July 2022.
Average prices varied noticeably for the major foreign markets. In July 2022, the country with the highest price was Japan ($55,616 per ton), while the average price for exports to Thailand ($55,616 per ton) was amongst the lowest.
From July 2021 to July 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.
Pumps; Parts Thereof Imports in the Philippines
In 2022, pumps; parts thereof imports into the Philippines skyrocketed to 1.7K tons, growing by 21% compared with the previous year. Over the period under review, imports, however, recorded a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 21% against the previous year.
In value terms, pumps; parts thereof imports rose sharply to $47M in 2022. In general, imports, however, showed a perceptible reduction. The growth pace was the most rapid in 2021 when imports increased by 15%.
| Import of Pumps; Parts Thereof in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 7.9 | 5.4 | 9.9 | 15.6 | 25.5% |
| Japan | 10.7 | 6.0 | 6.7 | 5.6 | -19.4% |
| Singapore | 2.2 | 3.4 | 2.8 | 3.6 | 17.8% |
| Australia | 2.7 | 2.1 | 4.7 | 3.6 | 10.1% |
| United States | 5.9 | 4.6 | 4.2 | 3.4 | -16.8% |
| South Korea | 2.3 | 2.9 | 3.0 | 2.8 | 6.8% |
| Netherlands | 0.7 | 2.1 | 0.3 | 2.6 | 54.9% |
| Germany | 1.7 | 1.0 | 1.9 | 1.9 | 3.8% |
| India | 5.0 | 1.4 | 2.6 | 1.1 | -39.6% |
| Italy | 1.8 | 1.3 | 1.2 | 1.0 | -17.8% |
| United Kingdom | 0.8 | 0.5 | 0.4 | 0.9 | 4.0% |
| Thailand | 0.7 | 0.2 | 0.3 | 0.9 | 8.7% |
| Taiwan (Chinese) | 0.4 | 0.3 | 0.5 | 0.8 | 26.0% |
| Others | 8.4 | 4.7 | 3.0 | 3.5 | -25.3% |
| Total | 51.2 | 36.0 | 41.3 | 47.2 | -2.7% |
Top Suppliers of Pumps; Parts Thereof to the Philippines in 2022:
- China (553.0 tons)
- Japan (197.9 tons)
- Singapore (127.1 tons)
- Australia (126.3 tons)
- United States (118.8 tons)
- South Korea (100.0 tons)
- Netherlands (93.4 tons)
- Germany (68.5 tons)
- India (38.6 tons)
- Italy (34.0 tons)
- United Kingdom (31.6 tons)
- Thailand (30.7 tons)
- Taiwan (Chinese) (26.5 tons)
Pumps; Parts Thereof Exports in the Philippines
In 2022, approx. 344 tons of pumps; parts thereoves were exported from the Philippines; increasing by 143% compared with 2021. Overall, exports showed significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 144% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.
In value terms, pumps; parts thereof exports skyrocketed to $6.1M in 2022. In general, total exports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +11.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +103.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 69%. The exports peaked in 2022 and are likely to see gradual growth in the near future.
| Export of Pumps; Parts Thereof in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 3.2 | 2.6 | 3.7 | 4.8 | 14.5% |
| China | N/A | N/A | N/A | 0.7 | 0% |
| Singapore | 0.4 | N/A | 0.1 | 0.2 | -20.6% |
| Others | 0.8 | 0.4 | 1.3 | 0.5 | -14.5% |
| Total | 4.4 | 3.0 | 5.1 | 6.1 | 11.5% |
Top Export Markets for Pumps; Parts Thereof from the Philippines in 2022:
- Japan (276.8 tons)
- China (42.2 tons)
- Singapore (9.0 tons)
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