Philippines: Radio Receiver Market 2023

Radio Receiver Market Size in the Philippines

The Philippine radio receiver market reduced to $X in 2022, shrinking by -2.4% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Radio receiver consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Radio Receiver Production in the Philippines

In value terms, radio receiver production expanded remarkably to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by 49% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Radio Receiver Exports

Exports from the Philippines

In 2022, the amount of radio receivers exported from the Philippines surged to X units, growing by 17% against the previous year's figure. Overall, exports enjoyed a temperate expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 243% against the previous year. Over the period under review, the exports hit record highs at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, radio receiver exports skyrocketed to $X in 2022. In general, exports showed a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 293% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United States (X units), Japan (X units) and China (X units) were the main destinations of radio receiver exports from the Philippines, with a combined 98% share of total exports. Italy and Australia lagged somewhat behind, together accounting for a further 1.6%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +112.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for radio receivers exports from the Philippines, comprising 59% of total exports. The second position in the ranking was taken by the United States ($X), with a 27% share of total exports. It was followed by China, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Japan stood at +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+24.8% per year) and China (+74.3% per year).

Export Prices by Country

In 2022, the average radio receiver export price amounted to $X per unit, rising by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.7%. The pace of growth appeared the most rapid in 2021 an increase of 24% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per unit), while the average price for exports to Italy ($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 Australia (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Radio Receiver Imports

Imports into the Philippines

In 2022, approx. X units of radio receivers were imported into the Philippines; falling by -22.9% against the previous year's figure. In general, imports, however, posted a resilient expansion. The growth pace was the most rapid in 2016 when imports increased by 135% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, radio receiver imports skyrocketed to $X in 2022. Overall, imports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 208% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of radio receiver to the Philippines, with a 74% share of total imports. Moreover, radio receiver imports from China exceeded the figures recorded by the second-largest supplier, Indonesia (X units), sevenfold. The third position in this ranking was taken by Malaysia (X units), with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+30.2% per year) and Malaysia (+23.4% per year).

In value terms, the largest radio receiver suppliers to the Philippines were China ($X), Malaysia ($X) and Thailand ($X), with a combined 90% share of total imports. Indonesia, Taiwan (Chinese) and Australia lagged somewhat behind, together comprising a further 5%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +64.2%, recorded the highest rates of growth with regard to 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 radio receiver import price amounted to $X per unit, increasing by 71% against the previous year. In general, the import price saw a buoyant increase. The most prominent rate of growth was recorded in 2019 an increase of 184% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+37.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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