Price for Clothing; Parts, Knitted or Crocheted in the Philippines - 2023
Contents:
- Price for Clothing; Parts, Knitted or Crocheted in the Philippines (CIF) - 2022
- Price for Clothing; Parts, Knitted or Crocheted in the Philippines (FOB) - 2022
- Imports of Clothing; Parts, Knitted or Crocheted in the Philippines
- Exports of Clothing; Parts, Knitted or Crocheted in the Philippines
Price for Clothing; Parts, Knitted or Crocheted in the Philippines (CIF) - 2022
The average import price for clothing; parts, knitted or crocheted stood at $34,771 per ton in 2022, growing by 5.8% against the previous year. Over the period under review, the import price posted a remarkable increase. The most prominent rate of growth was recorded in 2019 an increase of 101%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Canada ($35,000 per ton) and the United States ($34,598 per ton), while the price for South Korea ($34,402 per ton) and Japan ($34,576 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+21.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Clothing; Parts, Knitted or Crocheted in the Philippines (FOB) - 2022
The average export price for clothing; parts, knitted or crocheted stood at $43,360 per ton in 2022, increasing by 5.9% against the previous year. Overall, the export price continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2017 an increase of 43% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.
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 Hong Kong SAR ($50,731 per ton), while the average price for exports to the United Arab Emirates ($9,800 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 the United Arab Emirates (+17.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Clothing; Parts, Knitted or Crocheted in the Philippines
In 2022, imports of clothing; parts, knitted or crocheted into the Philippines skyrocketed to 12 tons, jumping by 33% on 2021. Over the period under review, total imports indicated a resilient increase from 2019 to 2022: its volume increased at an average annual rate of +11.0% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +63.4% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, clothing; parts, knitted or crocheted imports skyrocketed to $424K in 2022. Overall, imports posted significant growth. The growth pace was the most rapid in 2021 when imports increased by 64%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Clothing; Parts, Knitted or Crocheted in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 34.9 | 26.1 | 62.1 | 221 | 85.0% |
| Japan | 2.0 | 0.1 | 7.0 | 84.8 | 248.7% |
| Taiwan (Chinese) | 47.0 | 17.2 | 21.6 | 58.4 | 7.5% |
| Hong Kong SAR | 9.1 | 11.6 | 22.4 | 29.2 | 47.5% |
| United States | 18.9 | 1.2 | 3.8 | 23.9 | 8.1% |
| South Korea | 7.6 | 82.5 | 120 | 3.0 | -26.6% |
| Vietnam | 12.7 | 15.2 | 0.5 | N/A | -80.2% |
| Malaysia | 2.3 | 0.5 | 0.4 | N/A | -58.3% |
| Others | 99.4 | 28.9 | 63.4 | 3.6 | -66.9% |
| Total | 234 | 183 | 301 | 424 | 21.9% |
Top Suppliers of Clothing; Parts, Knitted or Crocheted to the Philippines in 2022:
- China (6.4 tons)
- Japan (2.5 tons)
- Taiwan (Chinese) (1.7 tons)
- Hong Kong SAR (0.8 tons)
- United States (0.7 tons)
- South Korea (0.1 tons)
Exports of Clothing; Parts, Knitted or Crocheted in the Philippines
In 2022, overseas shipments of clothing; parts, knitted or crocheted increased by 257% to 1.4 tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, saw a sharp descent.
In value terms, clothing; parts, knitted or crocheted exports surged to $60K in 2022. In general, exports, however, showed a significant curtailment.
| Export of Clothing; Parts, Knitted or Crocheted in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Hong Kong SAR | 1,640 | 86.7 | 13.6 | 50.4 | -68.7% |
| Vietnam | 58.5 | 2.3 | 0.5 | 2.4 | -65.5% |
| Singapore | 107 | 4.7 | 0.6 | 1.3 | -77.0% |
| Mexico | 8.5 | 0.6 | 0.1 | 0.8 | -54.5% |
| United Arab Emirates | 6.6 | 0.3 | N/A | 0.2 | -68.8% |
| Indonesia | 40.1 | 5.0 | N/A | N/A | -87.5% |
| Others | 76.1 | 4.7 | 1.0 | 5.0 | -59.6% |
| Total | 1,937 | 104 | 15.9 | 60.1 | -68.6% |
Top Export Markets for Clothing; Parts, Knitted or Crocheted from the Philippines in 2022:
- Hong Kong SAR (994.0 kg)
- Vietnam (152.0 kg)
- Singapore (64.0 kg)
- Mexico (49.0 kg)
- United Arab Emirates (25.0 kg)
- Indonesia (1.0 kg)
338
This report provides an in-depth analysis of the market for knitted shawl and scarf in the Philippines.
1916
This report provides an in-depth analysis of the global market for knitted shawl and scarf.
338
This report provides an in-depth analysis of the market for knitted shawl and scarf in the Philippines.
1916
This report provides an in-depth analysis of the global market for knitted shawl and scarf.
2841
In value terms, shawls, scarves, mufflers, mantillas andveils imports stood at $X in 2016. Overall, it indicated a prominent growth from 2007 to 2016: the total imports value increased at an averag...
1280
In value terms, shawls, scarves, mufflers, mantillas andveils exports amounted to $X in 2016. Overall, shawls, scarves, mufflers, mantillas andveils exports continue to indicate a strong increase. ...
2841
In value terms, shawls, scarves, mufflers, mantillas andveils imports stood at $X in 2016. Overall, it indicated a prominent growth from 2007 to 2016: the total imports value increased at an averag...
1280
In value terms, shawls, scarves, mufflers, mantillas andveils exports amounted to $X in 2016. Overall, shawls, scarves, mufflers, mantillas andveils exports continue to indicate a strong increase. ...
