Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in the Philippines - 2023

Contents:

1. Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in the Philippines (CIF) - 2022
2. Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in the Philippines (FOB) - 2022
3. Imports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in the Philippines
4. Exports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in the Philippines

Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in the Philippines (CIF) - 2022

In 2022, the average import price for compression-ignition internal combustion piston engines (diesel or semi-diesel engines) amounted to $383 per unit, declining by -26.9% against the previous year. In general, the import price continues to indicate a perceptible decline. The growth pace was the most rapid in 2020 an increase of 76% against the previous year. As a result, import price reached the peak level of $703 per unit. From 2021 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($1,300 per unit), while the price for South Korea ($108 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+7.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in the Philippines (FOB) - 2022

In 2022, the average export price for compression-ignition internal combustion piston engines (diesel or semi-diesel engines) amounted to $2,754 per unit, jumping by 164% against the previous year. Overall, the export price showed a prominent increase. The pace of growth appeared the most rapid in 2013 when the average export price increased by 548%. As a result, the export price attained the peak level of $6,585 per unit. From 2014 to 2022, the average export prices remained at a lower figure.

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 Australia ($3,438 per unit), while the average price for exports to Indonesia ($1,973 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+41.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in the Philippines

In 2022, imports of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) into the Philippines skyrocketed to 316K units, picking up by 64% against the previous year's figure. Overall, total imports indicated measured growth from 2019 to 2022: its volume increased at an average annual rate of +2.1% 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 +76.3% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) surged to $121M in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. Imports peaked at $126M in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Top Suppliers of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) to the Philippines in 2022:

1. Japan (134.5K units)
2. China (127.2K units)
3. Thailand (18.0K units)
4. South Korea (14.5K units)
5. Taiwan (Chinese) (9.4K units)
6. Indonesia (6.0K units)

Exports of Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) in the Philippines

In 2022, overseas shipments of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) were finally on the rise to reach 323 units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, saw a sharp setback. Over the period under review, the exports of reached the maximum at 1.1K units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of compression-ignition internal combustion piston engines (diesel or semi-diesel engines) skyrocketed to $890K in 2022. Over the period under review, exports, however, continue to indicate a slight descent. Over the period under review, the exports of reached the maximum at $933K in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Top Export Markets for Compression-Ignition Internal Combustion Piston Engines (Diesel or Semi-Diesel Engines) from the Philippines in 2022:

1. Indonesia (179.0 units)
2. South Africa (95.0 units)
3. Thailand (31.0 units)
4. Netherlands (6.0 units)
5. Australia (4.0 units)

Source: IndexBox Market Intelligence Platform