Philippines: Measuring Instrument Market 2024

Measuring Instrument Market Size in the Philippines

The Philippine measuring instrument market shrank markedly to $X in 2022, waning by X% against the previous year. Overall, consumption continues to indicate a abrupt setback. Measuring instrument consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Measuring Instrument Production in the Philippines

In value terms, measuring instrument production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Measuring Instrument Exports

Exports from the Philippines

In 2022, shipments abroad of instruments and apparatus for measuring or checking the flow or level of liquids increased by X% to X units, rising for the second year in a row after two years of decline. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2013 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, measuring instrument exports soared to $X in 2022. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Thailand (X units), India (X units) and Brazil (X units) were the main destinations of measuring instrument exports from the Philippines, with a combined X% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X) remains the key foreign market for instruments and apparatus for measuring or checking the flow or level of liquids exports from the Philippines, comprising X% of total exports. The second position in the ranking was held by South Korea ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Thailand totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the average measuring instrument export price amounted to $X per unit, reducing by X% against the previous year. In general, the export price showed a abrupt descent. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per unit), while the average price for exports to Brazil ($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 Malaysia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Measuring Instrument Imports

Imports into the Philippines

In 2022, the amount of instruments and apparatus for measuring or checking the flow or level of liquids imported into the Philippines amounted to X units, surging by X% on 2021 figures. Over the period under review, imports saw a remarkable increase. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, measuring instrument imports fell modestly to $X in 2022. Overall, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

China (X units), Japan (X units) and South Korea (X units) were the main suppliers of measuring instrument imports to the Philippines, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest measuring instrument suppliers to the Philippines were Japan ($X), China ($X) and South Korea ($X), together accounting for X% of total imports. The United States, France, Singapore, Taiwan (Chinese), Italy and Thailand lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, France, with a CAGR of X%, recorded 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

In 2022, the average measuring instrument import price amounted to $X per unit, shrinking by X% against the previous year. In general, the import price showed a noticeable decline. The most prominent rate of growth was recorded in 2015 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 France ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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