Philippines: Seat Market 2024

Seat Market Size in the Philippines

The Philippine seat market dropped slightly to $X in 2022, declining by X% against the previous year. Overall, consumption showed a relatively flat trend pattern. Seat consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Seat Production in the Philippines

In value terms, seat production fell slightly to $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Seat Exports

Exports from the Philippines

Seat exports from the Philippines surged to X units in 2022, growing by X% against the previous year's figure. Over the period under review, exports, however, continue to indicate a mild descent. The pace of growth was the most pronounced in 2019 when exports increased by X%. The exports peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, seat exports skyrocketed to $X in 2022. In general, exports, however, recorded a noticeable curtailment. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United States (X units) was the main destination for seat exports from the Philippines, accounting for a X% share of total exports. Moreover, seat exports to the United States exceeded the volume sent to the second major destination, Japan (X units), more than tenfold. The third position in this ranking was held by China (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (X% per year) and China (X% per year).

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

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

Export Prices by Country

The average seat export price stood at $X per unit in 2022, waning by X% against the previous year. In general, the export price continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per unit), while the average price for exports to the UK ($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 China (X%), while the prices for the other major destinations experienced mixed trend patterns.

Seat Imports

Imports into the Philippines

In 2022, the amount of seats imported into the Philippines expanded remarkably to X units, increasing by X% compared with the previous year's figure. Over the period under review, imports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, seat imports reached $X in 2022. In general, imports recorded a strong expansion. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X units) constituted the largest seat supplier to the Philippines, with a X% share of total imports. Moreover, seat imports from China exceeded the figures recorded by the second-largest supplier, Malaysia (X units), more than tenfold. The third position in this ranking was held by Japan (X units), 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: Malaysia (X% per year) and Japan (X% per year).

In value terms, China ($X) constituted the largest supplier of seats to the Philippines, comprising X% of total imports. The second position in the ranking was held by Malaysia ($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 growth rate of value from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average seat import price amounted to $X per unit, with a decrease of X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X%. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per unit), while the price for Japan ($X per unit) 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 mixed trend patterns.

Source: IndexBox Platform

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