Philippines: Market for Machine Tools For Working Metal Without Removing Metal 2023

Market Size for Machine Tools For Working Metal Without Removing Metal in the Philippines

In 2021, the Philippine machine tool for metal market increased by 545% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption recorded significant growth. Machine tool for metal consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Exports of Machine Tools For Working Metal Without Removing Metal

Exports from the Philippines

In 2021, overseas shipments of machine tools for working metal without removing metal increased by 59% to X units, rising for the second consecutive year after two years of decline. In general, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2017 when exports increased by 8,959% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, machine tool for metal exports shrank to $X in 2021. Over the period under review, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 8,110%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

South Korea (X units), Taiwan (Chinese) (X units) and Thailand (X units) were the main destinations of machine tool for metal exports from the Philippines, with a combined 76% share of total exports.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +64.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Malaysia ($X) and South Korea ($X) appeared to be the largest markets for machine tool for metal exported from the Philippines worldwide, together accounting for 85% of total exports.

Japan, with a CAGR of +57.9%, saw the highest growth rate of 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

In 2021, the average machine tool for metal export price amounted to $X per unit, dropping by -45.2% against the previous year. Overall, the export price showed a perceptible curtailment. The most prominent rate of growth was recorded in 2018 an increase of 86%. Over the period under review, the average export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Japan ($X per unit), while the average price for exports to Taiwan (Chinese) ($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 Vietnam (+120.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Machine Tools For Working Metal Without Removing Metal

Imports into the Philippines

After two years of decline, purchases abroad of machine tools for working metal without removing metal increased by 502% to X units in 2021. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 1,608% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, machine tool for metal imports surged to $X in 2021. Over the period under review, imports saw buoyant growth. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X units), China (X units) and Taiwan (Chinese) (X units) were the main suppliers of machine tool for metal imports to the Philippines, with a combined 91% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Thailand (with a CAGR of +122.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Japan ($X) and Taiwan (Chinese) ($X) appeared to be the largest machine tool for metal suppliers to the Philippines, together accounting for 26% of total imports.

Japan, with a CAGR of +5.9%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average machine tool for metal import price stood at $X per unit in 2021, reducing by -62.6% against the previous year. Overall, the import price saw a sharp curtailment. The pace of growth appeared the most rapid in 2014 an increase of 119% against the previous year. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (-10.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :