Price for Articles of Precious Metal or of Metal Clad with Precious Metal in the Philippines - 2023
Contents:
- Price for Articles of Precious Metal or of Metal Clad with Precious Metal in the Philippines (CIF) - 2022
- Price for Articles of Precious Metal or of Metal Clad with Precious Metal in the Philippines (FOB) - 2022
- Imports of Articles of Precious Metal or of Metal Clad with Precious Metal in the Philippines
- Exports of Articles of Precious Metal or of Metal Clad with Precious Metal in the Philippines
Price for Articles of Precious Metal or of Metal Clad with Precious Metal in the Philippines (CIF) - 2022
In 2022, the average import price for articles of precious metal or of metal clad with precious metal amounted to $134,604 per ton, waning by -71.4% against the previous year. Overall, the import price recorded a sharp downturn. The pace of growth was the most pronounced in 2018 when the average import price increased by 419% against the previous year. Over the period under review, average import prices hit record highs at $2,594,667 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.
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 China ($1,624,853 per ton), while the price for Singapore stood at $70,123 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (-2.6%).
Price for Articles of Precious Metal or of Metal Clad with Precious Metal in the Philippines (FOB) - 2022
In 2022, the average export price for articles of precious metal or of metal clad with precious metal amounted to $354,897 per ton, which is down by -50.9% against the previous year. Overall, the export price saw a sharp descent. The most prominent rate of growth was recorded in 2020 when the average export price increased by 88%. The export price peaked at $8,583,749 per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.
As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.
From 2012 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to +4.4% per year.
Imports of Articles of Precious Metal or of Metal Clad with Precious Metal in the Philippines
In 2022, the amount of articles of precious metal or of metal clad with precious metal imported into the Philippines soared to 103 tons, rising by 346% against 2021. Over the period under review, imports showed a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of articles of precious metal or of metal clad with precious metal soared to $14M in 2022. Overall, imports posted a significant increase. The growth pace was the most rapid in 2020 with an increase of 168% against the previous year. As a result, imports reached the peak of $15M. From 2021 to 2022, the growth of imports of failed to regain momentum.
| Import of Articles of Precious Metal or of Metal Clad with Precious Metal in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 2.5 | 4.8 | 1.6 | 7.0 | 40.9% |
| China | 0.6 | 1.7 | 3.5 | 3.7 | 83.4% |
| Japan | 2.1 | 5.0 | 2.2 | 1.6 | -8.7% |
| South Korea | 0.1 | 2.6 | 3.2 | 1.1 | 122.4% |
| Others | 0.3 | 0.7 | 0.4 | 0.4 | 10.1% |
| Total | 5.5 | 14.8 | 10.9 | 13.9 | 36.2% |
Top Suppliers of Articles of Precious Metal or of Metal Clad with Precious Metal to the Philippines in 2022:
- Singapore (99.5 tons)
- China (2.3 tons)
- Japan (0.8 tons)
- South Korea (0.4 tons)
Exports of Articles of Precious Metal or of Metal Clad with Precious Metal in the Philippines
In 2022, exports of articles of precious metal or of metal clad with precious metal from the Philippines contracted dramatically to 29 kg, dropping by -97.2% against the year before. In general, exports showed a precipitous setback. The most prominent rate of growth was recorded in 2021 with an increase of 4,254%. As a result, the exports attained the peak of 1 tons, and then shrank sharply in the following year.
In value terms, exports of articles of precious metal or of metal clad with precious metal fell markedly to $10K in 2022. Over the period under review, exports showed a significant curtailment. The growth pace was the most rapid in 2021 when exports increased by 3,413%. As a result, the exports reached the peak of $755K, and then fell sharply in the following year.
| Export of Articles of Precious Metal or of Metal Clad with Precious Metal in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 11.2 | N/A | N/A | 10.3 | -2.8% |
| China | 4.2 | 0.1 | 0.3 | N/A | -73.3% |
| Malaysia | 205 | N/A | N/A | N/A | 0% |
| Italy | 6.1 | N/A | N/A | N/A | 0% |
| Canada | N/A | N/A | 710 | N/A | 0% |
| Others | 3.5 | 21.4 | 44.7 | N/A | 257.4% |
| Total | 231 | 21.5 | 755 | 10.3 | -64.5% |
Top Export Markets for Articles of Precious Metal or of Metal Clad with Precious Metal from the Philippines in 2022:
- Hong Kong SAR (29.0 kg)
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