Price for Clock Movements; Complete and Assembled in the Philippines - 2023
Contents:
- Price for Clock Movements; Complete and Assembled in the Philippines (FOB) - 2022
- Price for Clock Movements; Complete and Assembled in the Philippines (CIF) - 2022
- Exports of Clock Movements; Complete and Assembled in the Philippines
- Imports of Clock Movements; Complete and Assembled in the Philippines
Price for Clock Movements; Complete and Assembled in the Philippines (FOB) - 2022
The average export price for clock movements; complete and assembleds stood at $4.3 per unit in 2022, falling by -92.4% against the previous year. Over the period under review, the export price saw a dramatic setback. The pace of growth was the most pronounced in 2021 when the average export price increased by 127% against the previous year. Over the period under review, the average export prices hit record highs at $56 per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was China ($80 per unit), while the average price for exports to Marshall Islands stood at $1.2 per unit.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+153.7%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Clock Movements; Complete and Assembled in the Philippines (CIF) - 2022
The average import price for clock movements; complete and assembleds stood at $1 per unit in 2022, rising by 60% against the previous year. Overall, the import price recorded a remarkable increase. The pace of growth appeared the most rapid in 2019 when the average import price increased by 635%. As a result, import price reached the peak level of $7.4 per unit. From 2020 to 2022, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($3.3 per unit), while the price for China ($0.6 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+159.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Clock Movements; Complete and Assembled in the Philippines
In 2022, approx. 5.9K units of clock movements; complete and assembleds were exported from the Philippines; rising by 193% on 2021 figures. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2020 when exports increased by 2,268% against the previous year. As a result, the exports attained the peak of 14K units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, clock movements; complete and assembled exports reduced rapidly to $25K in 2022. Over the period under review, exports continue to indicate a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 2,051% against the previous year. As a result, the exports attained the peak of $345K. From 2021 to 2022, the growth of the exports remained at a lower figure.
| Export of Clock Movements; Complete and Assembled in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | 128 | 62.8 | 17.1 | -63.4% |
| Marshall Islands | N/A | N/A | N/A | 6.6 | 0% |
| Spain | N/A | 68.1 | N/A | N/A | 0% |
| Morocco | N/A | 146 | 37.8 | N/A | -74.1% |
| United States | 6.6 | N/A | 0.2 | N/A | -82.6% |
| Others | 9.4 | 2.3 | 12.2 | 1.5 | -45.8% |
| Total | 16.0 | 345 | 113 | 25.2 | 16.3% |
Top Export Markets for Clock Movements; Complete and Assembled from the Philippines in 2022:
- Marshall Islands (5.7K units)
- China (0.2K units)
Imports of Clock Movements; Complete and Assembled in the Philippines
Clock movements; complete and assembled imports into the Philippines dropped significantly to 26K units in 2022, waning by -82.5% compared with 2021 figures. In general, imports faced a abrupt setback. The pace of growth appeared the most rapid in 2021 when imports increased by 357%. As a result, imports attained the peak of 149K units, and then declined significantly in the following year.
In value terms, clock movements; complete and assembled imports fell rapidly to $26K in 2022. Overall, imports recorded a precipitous contraction. The smallest decline of -30.2% was in 2021. Over the period under review, imports attained the maximum at $301K in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Clock Movements; Complete and Assembled in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 14.5 | 57.0 | 73.6 | 14.0 | -1.2% |
| United States | N/A | 1.3 | 1.7 | 4.4 | 84.0% |
| Hong Kong SAR | 264 | 0.1 | 14.9 | N/A | -76.2% |
| Others | 22.4 | 75.0 | 2.9 | 7.6 | -30.3% |
| Total | 301 | 133 | 93.1 | 26.1 | -55.7% |
Top Suppliers of Clock Movements; Complete and Assembled to the Philippines in 2022:
- Hong Kong SAR (undefinedK units)
- China (24.4K units)
- United States (1.4K units)
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