Price for Cutlery; Other than Plated with Precious Metal in the Philippines - 2023
Contents:
- Price for Cutlery; Other than Plated with Precious Metal in the Philippines (CIF) - 2022
- Price for Cutlery; Other than Plated with Precious Metal in the Philippines (FOB) - 2022
- Imports of Cutlery; Other than Plated with Precious Metal in the Philippines
- Exports of Cutlery; Other than Plated with Precious Metal in the Philippines
Price for Cutlery; Other than Plated with Precious Metal in the Philippines (CIF) - 2022
The average import price for cutlery; other than plated with precious metals stood at $12,294 per ton in 2022, rising by 9.1% against the previous year. In general, the import price continues to indicate significant growth. The growth pace was the most rapid in 2018 an increase of 803% against the previous year. The import price peaked in 2022 and is likely to see steady 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 the United States ($12,295 per ton) and Japan ($12,294 per ton), while the price for South Korea ($12,293 per ton) and Indonesia ($12,293 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+38.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Cutlery; Other than Plated with Precious Metal in the Philippines (FOB) - 2022
The average export price for cutlery; other than plated with precious metals stood at $16,386 per ton in 2022, shrinking by -28.8% against the previous year. In general, the export price, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 227% against the previous year. As a result, the export price attained the peak level of $28,209 per ton. From 2018 to 2022, the average export prices remained at a somewhat lower figure.
Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Kuwait ($16,393 per ton) and Malaysia ($16,390 per ton), while the average price for exports to Canada ($16,356 per ton) and Singapore ($16,388 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Guam (+0.2%), while the prices for the other major destinations experienced a decline.
Imports of Cutlery; Other than Plated with Precious Metal in the Philippines
For the third year in a row, the Philippines recorded decline in purchases abroad of cutlery; other than plated with precious metals, which decreased by -18.9% to 340 tons in 2022. In general, imports recorded a precipitous decline.
In value terms, imports of cutlery; other than plated with precious metals shrank to $4.2M in 2022. Overall, imports faced a precipitous descent.
| Import of Cutlery; Other than Plated with Precious Metal in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 14.3 | 6.7 | 4.0 | 3.3 | -38.7% |
| Japan | 0.4 | 0.3 | 0.3 | 0.2 | -20.6% |
| Taiwan (Chinese) | 0.2 | 0.1 | 0.1 | 0.1 | -20.6% |
| Indonesia | N/A | N/A | N/A | 0.1 | 0% |
| United States | 0.2 | 0.1 | 0.1 | 0.1 | -20.6% |
| South Korea | 0.3 | 0.1 | N/A | 0.1 | -30.7% |
| Others | 0.4 | 0.1 | 0.2 | 0.3 | -9.1% |
| Total | 15.7 | 7.3 | 4.7 | 4.2 | -35.6% |
Top Suppliers of Cutlery; Other than Plated with Precious Metal to the Philippines in 2022:
- China (270.4 tons)
- Japan (17.9 tons)
- South Korea (9.0 tons)
- Indonesia (7.0 tons)
- Taiwan (Chinese) (5.4 tons)
- United States (5.3 tons)
Exports of Cutlery; Other than Plated with Precious Metal in the Philippines
In 2022, shipments abroad of cutlery; other than plated with precious metals was finally on the rise to reach 11 tons for the first time since 2019, thus ending a two-year declining trend. In general, exports posted significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
In value terms, exports of cutlery; other than plated with precious metals surged to $178K in 2022. Overall, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Cutlery; Other than Plated with Precious Metal in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | N/A | N/A | 16.3 | 105 | 544.2% |
| Hong Kong SAR | 0.8 | 0.1 | 0.5 | 38.8 | 264.7% |
| Kuwait | N/A | N/A | 10.8 | 10.1 | -6.5% |
| Malaysia | N/A | N/A | N/A | 8.4 | 0% |
| Guam | N/A | N/A | 0.7 | 6.6 | 842.9% |
| Canada | N/A | N/A | N/A | 2.7 | 0% |
| United States | 9.6 | 7.5 | N/A | 1.1 | -51.4% |
| United Kingdom | 15.9 | 11.6 | N/A | 0.1 | -81.5% |
| Germany | N/A | 4.9 | N/A | N/A | 0% |
| Netherlands | 65.5 | N/A | N/A | N/A | 0% |
| Others | 0.3 | 3.6 | 0.9 | 5.2 | 158.8% |
| Total | 92.1 | 27.7 | 29.3 | 178 | 24.6% |
Top Export Markets for Cutlery; Other than Plated with Precious Metal from the Philippines in 2022:
- Singapore (6.4 tons)
- Hong Kong SAR (2.4 tons)
- Kuwait (0.6 tons)
- Malaysia (0.5 tons)
- Guam (0.4 tons)
- Canada (0.2 tons)
- United States (0.1 tons)
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