Philippines: Container Market 2024

Container Market Size in the Philippines

The Philippine container market fell slightly to $X in 2022, shrinking by X% against the previous year. Overall, consumption, however, saw resilient growth. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Container Production in the Philippines

In value terms, container production dropped to $X in 2022 estimated in export price. Overall, production, however, saw a prominent increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Container Exports

Exports from the Philippines

In 2022, container exports from the Philippines contracted to X units, which is down by X% on the previous year's figure. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, container exports reduced to $X in 2022. Overall, exports faced a abrupt slump. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Solomon Islands (X units), China (X units) and Singapore (X units) were the main destinations of container exports from the Philippines, together accounting for X% of total exports.

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

In value terms, the largest markets for container exported from the Philippines were Solomon Islands ($X), Singapore ($X) and China ($X), with a combined X% share of total exports.

Solomon Islands, with a CAGR of X%, 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 2022, the average container export price amounted to $X per unit, increasing by X% against the previous year. Over the period under review, the export price showed prominent growth. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per unit) and Thailand ($X per unit), while the average price for exports to Solomon Islands ($X per unit) and the United States ($X per unit) were amongst the lowest.

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

Container Imports

Imports into the Philippines

In 2022, approx. X units of tanks, casks, drums, cans, boxes and similar containers were imported into the Philippines; growing by X% compared with the previous year. In general, imports continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, container imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed a strong expansion. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Thailand (X units), China (X units) and Malaysia (X units) were the main suppliers of container imports to the Philippines, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Malaysia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), China ($X) and Malaysia ($X) were the largest container suppliers to the Philippines, with a combined X% share of total imports.

Malaysia, with a CAGR of X%, 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

The average container import price stood at $X per unit in 2022, with an increase of X% against the previous year. In general, import price indicated a prominent 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, container import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices reached the maximum in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Singapore ($X per unit) and the United States ($X per unit), while the price for Indonesia ($X per unit) and Malaysia ($X per unit) were 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

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