Philippines: Woolen Fabric Market 2024

Woolen Fabric Market Size in the Philippines

In 2022, the Philippine woolen fabric market increased by X% to $X, rising for the second year in a row after three years of decline. In general, consumption, however, saw a pronounced contraction. Woolen fabric consumption peaked at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Woolen Fabric Exports

Exports from the Philippines

In 2022, after two years of decline, there was significant growth in overseas shipments of woven woolen fabrics, when their volume increased by X% to X square meters. In general, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X square meters. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, woolen fabric exports surged to $X in 2022. Overall, exports enjoyed a remarkable increase. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

France (X square meters) was the main destination for woolen fabric exports from the Philippines, with a X% share of total exports. Moreover, woolen fabric exports to France exceeded the volume sent to the second major destination, the United Arab Emirates (X square meters), twofold. Romania (X square meters) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to France stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Romania (X% per year).

In value terms, France ($X) emerged as the key foreign market for woven woolen fabrics exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Hong Kong SAR, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Hong Kong SAR (X% per year).

Export Prices by Country

In 2022, the average woolen fabric export price amounted to $X per square meter, remaining constant against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per square meter. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per square meter), while the average price for exports to Switzerland ($X per square meter) was amongst the lowest.

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

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Woolen Fabric Imports

Imports into the Philippines

In 2022, supplies from abroad of woven woolen fabrics increased by X% to X square meters, rising for the second year in a row after three years of decline. Over the period under review, imports, however, continue to indicate a abrupt decline. Over the period under review, imports attained the peak figure at X square meters in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, woolen fabric imports soared to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The UK (X square meters), Italy (X square meters) and China (X square meters) were the main suppliers of woolen fabric imports to the Philippines, with a combined X% share of total imports. Japan, Turkey, Egypt, the United States, South Korea and Thailand lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest woolen fabric suppliers to the Philippines were the UK ($X), Italy ($X) and China ($X), together accounting for X% of total imports. Japan, Turkey, Egypt, the United States, South Korea and Thailand lagged somewhat behind, together comprising a further X%.

Egypt, with a CAGR of X%, saw the highest growth rate of 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 2022, the average woolen fabric import price amounted to $X per square meter, declining by X% against the previous year. Over the period under review, the import price, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The import price peaked at $X per square meter in 2021, and then shrank significantly in the following year.

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 Egypt ($X per square meter), while the price for Turkey ($X per square meter) was amongst the lowest.

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

Source: IndexBox Platform

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