Philippines: Direction Finding Compass Market 2024

Direction Finding Compass Market Size in the Philippines

The Philippine direction finding compass market expanded rapidly to $X in 2022, increasing by X% against the previous year. In general, consumption continues to indicate buoyant growth. Direction finding compass consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Direction Finding Compass Production in the Philippines

In value terms, direction finding compass production expanded remarkably to $X in 2022 estimated in export price. Over the period under review, production showed a resilient increase. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Direction Finding Compass Exports

Exports from the Philippines

In 2022, approx. X units of direction finding compasses were exported from the Philippines; which is down by X% against the previous year's figure. Overall, exports showed a noticeable decrease. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The exports peaked at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, direction finding compass exports declined sharply to $X in 2022. In general, exports showed a pronounced reduction. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

South Korea (X units) was the main destination for direction finding compass exports from the Philippines, accounting for a approx. X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to South Korea amounted to X%.

In value terms, South Korea ($X) also remains the key foreign market for direction finding compasses exports from the Philippines.

From 2012 to 2022, the average annual growth rate of value to South Korea amounted to X%.

Export Prices by Country

In 2022, the average direction finding compass export price amounted to $X per unit, surging by X% against the previous year. Overall, the export price, however, continues to indicate a slight decline. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for South Korea.

From 2012 to 2022, the rate of growth in terms of prices for the UK amounted to X% per year.

Direction Finding Compass Imports

Imports into the Philippines

After three years of decline, overseas purchases of direction finding compasses increased by X% to X units in 2022. In general, imports showed a strong increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, direction finding compass imports skyrocketed to $X in 2022. Overall, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Taiwan (Chinese) (X units) constituted the largest direction finding compass supplier to the Philippines, accounting for a X% share of total imports. Moreover, direction finding compass imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, India (X units), threefold. The United States (X units) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Taiwan (Chinese) amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and the United States (X% per year).

In value terms, Denmark ($X) constituted the largest supplier of direction finding compasses to the Philippines, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by India, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Denmark amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and India (X% per year).

Import Prices by Country

The average direction finding compass import price stood at $X per unit in 2022, falling by X% against the previous year. Over the period under review, the import price continues to indicate a deep slump. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum at $X per unit in 2017; however, from 2018 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 Japan ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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