Philippines: Radio Navigation Apparatus Market 2024

Radio Navigation Apparatus Market Size in the Philippines

In 2021, the Philippine radio navigation apparatus market decreased by -0.6% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption showed a slight slump. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Radio Navigation Apparatus Production in the Philippines

In value terms, radio navigation apparatus production skyrocketed to $X in 2021 estimated in export price. Overall, production saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 38% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Radio Navigation Apparatus Exports

Exports from the Philippines

In 2021, overseas shipments of radio navigational aid apparatus increased by 76% to X tons, rising for the fifth consecutive year after three years of decline. Over the period under review, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 128% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, radio navigation apparatus exports soared to $X in 2021. In general, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 115% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Japan (X tons) was the main destination for radio navigation apparatus exports from the Philippines, with a 56% share of total exports. Moreover, radio navigation apparatus exports to Japan exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was taken by Thailand (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Japan stood at +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-0.1% per year) and Thailand (+219.4% per year).

In value terms, Japan ($X) remains the key foreign market for radio navigational aid apparatus exports from the Philippines, comprising 77% of total exports. The second position in the ranking was held by China ($X), with a 7.3% share of total exports. It was followed by the United States, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value to Japan totaled +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+13.7% per year) and the United States (-10.6% per year).

Export Prices by Country

The average radio navigation apparatus export price stood at $X per ton in 2021, which is down by -19.6% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average export price increased by 56% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was China ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+2.9%), while the prices for the other major destinations experienced mixed trend patterns.

Radio Navigation Apparatus Imports

Imports into the Philippines

In 2021, overseas purchases of radio navigational aid apparatus increased by 16% to X tons, rising for the second consecutive year after two years of decline. Overall, imports recorded resilient growth. The pace of growth was the most pronounced in 2015 with an increase of 153% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, radio navigation apparatus imports surged to $X in 2021. Over the period under review, imports saw a prominent increase. The growth pace was the most rapid in 2015 with an increase of 126% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) (X tons), Singapore (X tons) and China (X tons) were the main suppliers of radio navigation apparatus imports to the Philippines, together accounting for 79% of total imports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +58.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest radio navigation apparatus suppliers to the Philippines were Japan ($X), the United States ($X) and Singapore ($X), with a combined 43% share of total imports. Taiwan (Chinese), China, Hong Kong SAR, South Korea and Australia lagged somewhat behind, together comprising a further 17%.

China, with a CAGR of +63.2%, 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 more modest paces of growth.

Import Prices by Country

In 2021, the average radio navigation apparatus import price amounted to $X per ton, growing by 35% against the previous year. Overall, the import price enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2019 when the average import price increased by 49%. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+57.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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