Philippines: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in the Philippines

The Philippine lathe for removing metal market rose rapidly to $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, continues to indicate a dramatic downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Lathes For Removing Metal in the Philippines

In value terms, lathe for removing metal production soared to $X in 2022 estimated in export price. Overall, production, however, recorded a dramatic curtailment. Lathe for removing metal production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Lathes For Removing Metal

Exports from the Philippines

In 2022, exports of lathes for removing metal from the Philippines reached X units, surging by X% on the year before. Over the period under review, exports, however, recorded a noticeable descent. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, the lafor removing metal exports reached the peak figure at X units in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, lathe for removing metal exports skyrocketed to $X in 2022. Overall, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the lafor removing metal exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X units), the Netherlands (X units) and Thailand (X units) were the main destinations of lathe for removing metal exports from the Philippines, with a combined X% share of total exports. The United States, Malaysia, Vietnam, Taiwan (Chinese) and China lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Japan ($X) and the United States ($X) were the largest markets for lathe for removing metal exported from the Philippines worldwide, with a combined X% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average lathe for removing metal export price stood at $X per unit in 2022, rising by X% against the previous year. In general, the export price showed a significant expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the near future.

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

Imports of Lathes For Removing Metal

Imports into the Philippines

In 2022, overseas purchases of lathes for removing metal increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports continue to indicate a prominent increase. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, lathe for removing metal imports contracted rapidly to $X in 2022. In general, imports showed a notable expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, lafor removing metal imports attained the peak figure at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), Japan (X units) and the United States (X units) were the main suppliers of lathe for removing metal imports to the Philippines, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constituted the largest supplier of lathes for removing metal to the Philippines, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

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

Import Prices by Country

In 2022, the average lathe for removing metal import price amounted to $X per unit, declining by X% against the previous year. In general, the import price recorded a deep contraction. The growth pace was the most rapid in 2013 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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