Philippines: Market for Nets of Twine, Cordage, Rope or Textile Materials 2024

Market Size for Nets of Twine, Cordage, Rope or Textile Materials in the Philippines

The Philippine market for nets of twine, cordage, rope or textile materials reduced to $X in 2022, which is down by X% against the previous year. Over the period under review, consumption, however, continues to indicate a remarkable increase. Twine, cordage or textile net consumption peaked at $X in 2021, and then shrank in the following year.

Production of Nets of Twine, Cordage, Rope or Textile Materials in the Philippines

In value terms, twine, cordage or textile net production fell to $X in 2022 estimated in export price. Overall, the total production indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Exports of Nets of Twine, Cordage, Rope or Textile Materials

Exports from the Philippines

In 2022, twine, cordage or textile net exports from the Philippines shrank to X tons, leveling off at the previous year. In general, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, twine, cordage or textile net exports expanded significantly to $X in 2022. Overall, total exports indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

South Korea (X tons) was the main destination for twine, cordage or textile net exports from the Philippines, with a X% share of total exports. Moreover, twine, cordage or textile net exports to South Korea exceeded the volume sent to the second major destination, Mexico (X tons), twofold. Chile (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Chile (X% per year).

In value terms, South Korea ($X) remains the key foreign market for nets of twine, cordage, rope or textile materials exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by Mexico ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual growth rate of value to South Korea was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (X% per year) and Chile (X% per year).

Export Prices by Country

The average export price for nets of twine, cordage, rope or textile materials stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, twine, cordage or textile net export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Peru ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nets of Twine, Cordage, Rope or Textile Materials

Imports into the Philippines

In 2022, overseas purchases of nets of twine, cordage, rope or textile materials decreased by X% to X tons for the first time since 2014, thus ending a seven-year rising trend. Overall, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, twine, cordage or textile net imports contracted dramatically to $X in 2022. Over the period under review, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021, and then contracted sharply in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of twine, cordage or textile net to the Philippines, with a X% share of total imports. Moreover, twine, cordage or textile net imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), sixfold. Thailand (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms 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 Thailand (X% per year).

In value terms, China ($X) constituted the largest supplier of nets of twine, cordage, rope or textile materials to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

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

Import Prices by Country

In 2022, the average import price for nets of twine, cordage, rope or textile materials amounted to $X per ton, shrinking by X% against the previous year. In general, import price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, twine, cordage or textile net import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

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 Vietnam ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :