Philippines: Domestic Appliances Market 2024

Domestic Appliances Market Size in the Philippines

In 2021, the Philippine domestic appliances market increased by 8.6% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. Domestic appliances consumption peaked in 2021 and is likely to see steady growth in the near future.

Domestic Appliances Production in the Philippines

In value terms, domestic appliances production reached $X in 2021 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 34% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Domestic Appliances Exports

Exports from the Philippines

In 2021, the amount of domestic appliances exported from the Philippines skyrocketed to X units, rising by 238% against the previous year. In general, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2018 with an increase of 311% against the previous year. The exports peaked at X units in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, domestic appliances exports soared to $X in 2021. Overall, exports posted a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 381% against the previous year. Over the period under review, the exports reached the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X units), the United States (X units) and Germany (X units) were the main destinations of domestic appliances exports from the Philippines, with a combined 49% share of total exports. These countries were followed by Thailand, South Korea, Austria, the Czech Republic, Russia, Finland, the United Arab Emirates, Italy, France and Indonesia, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Finland (with a CAGR of +95.9%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Japan ($X) were the largest markets for domestic appliances exported from the Philippines worldwide, together accounting for 56% of total exports. South Korea, France, Italy, Austria, Russia, the United Arab Emirates, Finland, the Czech Republic, Thailand and Indonesia lagged somewhat behind, together comprising a further 23%.

In terms of the main countries of destination, Italy, with a CAGR of +92.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average domestic appliances export price amounted to $X per unit, waning by -36.1% against the previous year. In general, the export price continues to indicate a noticeable decline. The pace of growth was the most pronounced in 2020 an increase of 66% against the previous year. The export price peaked at $X per unit in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to Thailand ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+29.0%), while the prices for the other major destinations experienced more modest paces of growth.

Domestic Appliances Imports

Imports into the Philippines

In 2021, the amount of domestic appliances imported into the Philippines surged to X units, picking up by 24% on the year before. Overall, total imports indicated a pronounced expansion from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -21.0% against 2017 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 59% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, domestic appliances imports surged to $X in 2021. Over the period under review, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2016 when imports increased by 39% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, China (X units) was the main domestic appliances supplier to the Philippines, accounting for a 93% share of total imports. Moreover, domestic appliances imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), fivefold. Thailand (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+29.5% per year) and Thailand (+1.8% per year).

In value terms, China ($X) constituted the largest supplier of domestic appliances to the Philippines, comprising 61% of total imports. The second position in the ranking was taken by Thailand ($X), with a 10% share of total imports. It was followed by Vietnam, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value from China totaled +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+5.9% per year) and Vietnam (+36.7% per year).

Import Prices by Country

In 2021, the average domestic appliances import price amounted to $X per unit, approximately reflecting the previous year. Over the period under review, the import price posted a prominent expansion. The most prominent rate of growth was recorded in 2014 when the average import price increased by 120%. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :