Philippines: Electric Lamp Market 2024

Electric Lamp Market Size in the Philippines

For the sixth consecutive year, the Philippine electric lamp market recorded decline in sales value, which decreased by X% to $X in 2022. Over the period under review, consumption recorded a deep contraction. The growth pace was the most rapid in 2016 with an increase of X%. Electric lamp consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Electric Lamp Production in the Philippines

In value terms, electric lamp production totaled $X in 2022 estimated in export price. In general, production continues to indicate a slight shrinkage. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Electric Lamp Exports

Exports from the Philippines

In 2022, after two years of decline, there was significant growth in shipments abroad of electric lamps, when their volume increased by X% to X units. Overall, exports, however, faced a abrupt setback. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, electric lamp exports soared to $X in 2022. Over the period under review, exports recorded a remarkable increase. The pace of growth appeared the most rapid in 2015 with an increase of X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units) was the main destination for electric lamp exports from the Philippines, accounting for a X% share of total exports. Moreover, electric lamp exports to the United States exceeded the volume sent to the second major destination, China (X units), fourfold. Taiwan (Chinese) (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (X% per year) and Taiwan (Chinese) (X% per year).

In value terms, the United States ($X), China ($X) and Germany ($X) were the largest markets for electric lamp exported from the Philippines worldwide, together accounting for X% of total exports. The Netherlands, Japan, South Korea, Taiwan (Chinese) and Chile lagged somewhat behind, together accounting for a further X%.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average electric lamp export price stood at $X per unit in 2022, rising by X% against the previous year. In general, the export price showed a significant increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the average export prices failed to regain momentum.

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 Chile ($X per unit), while the average price for exports to Taiwan (Chinese) ($X 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 Chile (X%), while the prices for the other major destinations experienced more modest paces of growth.

Electric Lamp Imports

Imports into the Philippines

In 2022, the amount of electric lamps imported into the Philippines fell to X units, with a decrease of X% compared with the year before. In general, imports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, electric lamp imports declined rapidly to $X in 2022. Overall, imports, however, showed a buoyant increase. The growth pace was the most rapid in 2017 when imports increased by X%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X units) was the main electric lamp supplier to the Philippines, accounting for a X% share of total imports. Moreover, electric lamp imports from China exceeded the figures recorded by the second-largest supplier, Japan (X units), more than tenfold. Hong Kong SAR (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 China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and Hong Kong SAR (X% per year).

In value terms, China ($X), Japan ($X) and Hong Kong SAR ($X) appeared to be the largest electric lamp suppliers to the Philippines, together comprising X% of total imports.

In terms of the main suppliers, Hong Kong SAR, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average electric lamp import price stood at $X per unit in 2022, with a decrease of X% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2022, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform

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