Price for Machinery; Parts of Machinery of Heading No. 8422 in the Philippines - 2023
Contents:
- Price for Machinery; Parts of Machinery of Heading No. 8422 in the Philippines (CIF) - 2022
- Price for Machinery; Parts of Machinery of Heading No. 8422 in the Philippines (FOB) - 2022
- Imports of Machinery; Parts of Machinery of Heading No. 8422 in the Philippines
- Exports of Machinery; Parts of Machinery of Heading No. 8422 in the Philippines
Price for Machinery; Parts of Machinery of Heading No. 8422 in the Philippines (CIF) - 2022
In 2022, the average import price for machinery; parts of machinery of heading no. 8422 amounted to $36,249 per ton, surging by 8.1% against the previous year. Overall, the import price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2017 an increase of 53% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in years to come.
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 Singapore ($137,696 per ton), while the price for Taiwan (Chinese) ($6,337 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+27.0%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Machinery; Parts of Machinery of Heading No. 8422 in the Philippines (FOB) - 2022
The average export price for machinery; parts of machinery of heading no. 8422 stood at $163,636 per ton in 2022, which is down by -6.5% against the previous year. Overall, the export price, however, posted a significant expansion. The most prominent rate of growth was recorded in 2021 an increase of 106%. As a result, the export price attained the peak level of $174,990 per ton, and then dropped in the following year.
There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($174,887 per ton), while the average price for exports to Brazil ($31,078 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Poland (+43.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Machinery; Parts of Machinery of Heading No. 8422 in the Philippines
For the third consecutive year, the Philippines recorded decline in purchases abroad of machinery; parts of machinery of heading no. 8422, which decreased by -12.8% to 783 tons in 2022. Overall, imports saw a abrupt setback. The smallest decline of -11.5% was in 2020.
In value terms, imports of machinery; parts of machinery of heading no. 8422 reduced to $28M in 2022. In general, imports saw a abrupt decrease. The smallest decline of -5.8% was in 2020.
| Import of Machinery; Parts of Machinery of Heading No. 8422 in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 9.4 | 7.5 | 5.2 | 6.3 | -12.5% |
| China | 5.6 | 3.5 | 4.8 | 4.0 | -10.6% |
| Germany | 3.4 | 4.8 | 3.8 | 3.8 | 3.8% |
| United States | 3.0 | 3.8 | 2.0 | 2.7 | -3.5% |
| Japan | 3.6 | 3.4 | 2.8 | 1.9 | -19.2% |
| Taiwan (Chinese) | 1.6 | 1.7 | 2.0 | 1.5 | -2.1% |
| Singapore | 3.2 | 2.7 | 1.8 | 1.4 | -24.1% |
| India | 0.8 | 0.5 | 0.9 | 0.5 | -14.5% |
| South Korea | 0.3 | 0.3 | 0.4 | 0.4 | 10.1% |
| Others | 7.0 | 7.4 | 6.6 | 5.9 | -5.5% |
| Total | 37.8 | 35.6 | 30.1 | 28.4 | -9.1% |
Top Suppliers of Machinery; Parts of Machinery of Heading No. 8422 to the Philippines in 2022:
- China (262.0 tons)
- Taiwan (Chinese) (234.0 tons)
- United States (61.5 tons)
- Italy (55.5 tons)
- Germany (54.0 tons)
- South Korea (20.6 tons)
- Japan (19.7 tons)
- India (12.7 tons)
- Singapore (9.9 tons)
Exports of Machinery; Parts of Machinery of Heading No. 8422 in the Philippines
In 2022, approx. 7.5 tons of machinery; parts of machinery of heading no. 8422 were exported from the Philippines; with a decrease of -8.2% compared with the previous year's figure. Overall, exports recorded a sharp shrinkage. The pace of growth was the most pronounced in 2021 when exports increased by 3,969% against the previous year.
In value terms, exports of machinery; parts of machinery of heading no. 8422 contracted to $1.2M in 2022. In general, exports, however, continue to indicate prominent growth. The pace of growth appeared the most rapid in 2021 with an increase of 8,276%. As a result, the exports attained the peak of $1.4M, and then shrank in the following year.
| Export of Machinery; Parts of Machinery of Heading No. 8422 in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 608 | N/A | 806 | 747 | 7.1% |
| China | N/A | N/A | 333 | 347 | 4.2% |
| Poland | N/A | N/A | 0.1 | 34.0 | 33900.0% |
| South Korea | N/A | N/A | N/A | 27.2 | 0% |
| Vietnam | 212 | 8.5 | 73.0 | 3.3 | -75.0% |
| Bangladesh | N/A | N/A | 57.8 | N/A | 0% |
| Others | 145 | 8.5 | 153 | 63.1 | -24.2% |
| Total | 965 | 17.0 | 1,424 | 1,222 | 8.2% |
Top Export Markets for Machinery; Parts of Machinery of Heading No. 8422 from the Philippines in 2022:
- Japan (4.3 tons)
- China (2.0 tons)
- Poland (0.4 tons)
- South Korea (0.3 tons)
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