Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in the Philippines - 2023
Contents:
- Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in the Philippines (FOB) - 2022
- Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in the Philippines (CIF) - 2022
- Exports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in the Philippines
- Imports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in the Philippines
Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in the Philippines (FOB) - 2022
In 2022, the average export price for cycles; parts, pedals and crank-gear, and parts thereoves amounted to $25,279 per ton, declining by -7.5% against the previous year. Over the period under review, the export price, however, continues to indicate buoyant growth. The pace of growth was the most pronounced in 2013 when the average export price increased by 141% against the previous year. The export price peaked at $27,324 per ton in 2021, and then shrank in the following year.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($58,101 per ton), while the average price for exports to Singapore ($19,523 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 Lithuania (+66.4%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in the Philippines (CIF) - 2022
In 2022, the average import price for cycles; parts, pedals and crank-gear, and parts thereoves amounted to $9,468 per ton, increasing by 11% against the previous year. In general, the import price recorded a significant increase. The most prominent rate of growth was recorded in 2017 an increase of 122% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($14,885 per ton), while the price for China ($8,000 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+28.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in the Philippines
In 2022, approx. 2.2K tons of cycles; parts, pedals and crank-gear, and parts thereoves were exported from the Philippines; growing by 40% compared with 2021. Overall, exports, however, continue to indicate a mild decrease.
In value terms, exports of cycles; parts, pedals and crank-gear, and parts thereoves soared to $55M in 2022. In general, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 91% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.
| Export of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 7.3 | 6.7 | 17.6 | 30.2 | 60.5% |
| Lithuania | 0.2 | 0.2 | 1.7 | 4.2 | 175.9% |
| Brazil | 1.9 | 1.9 | 2.2 | 2.5 | 9.6% |
| Cambodia | 2.7 | 3.3 | 3.3 | 2.2 | -6.6% |
| China | 2.8 | 3.0 | 2.9 | 2.1 | -9.1% |
| Bulgaria | 0.7 | 0.6 | 1.9 | 2.0 | 41.9% |
| Turkey | 0.5 | 0.6 | 1.1 | 1.3 | 37.5% |
| Taiwan (Chinese) | 0.5 | 0.3 | 1.1 | 1.0 | 26.0% |
| Italy | 0.2 | 0.2 | 0.3 | 0.8 | 58.7% |
| Germany | 0.5 | 0.3 | 0.9 | 0.3 | -15.7% |
| Malaysia | 0.9 | 1.0 | 0.7 | 0.2 | -39.4% |
| Others | 3.7 | 4.2 | 9.1 | 8.6 | 32.5% |
| Total | 21.7 | 22.3 | 42.7 | 55.3 | 36.6% |
Top Export Markets for Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof from the Philippines in 2022:
- Singapore (1548.3 tons)
- Brazil (115.1 tons)
- China (97.2 tons)
- Lithuania (72.5 tons)
- Taiwan (Chinese) (46.6 tons)
- Cambodia (37.9 tons)
- Italy (34.2 tons)
- Bulgaria (33.7 tons)
- Turkey (23.0 tons)
- Germany (13.6 tons)
- Malaysia (8.2 tons)
Imports of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in the Philippines
Imports of cycles; parts, pedals and crank-gear, and parts thereoves into the Philippines soared to 835 tons in 2022, rising by 17% on 2021. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +14.3% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -19.0% against 2020 indices. The pace of growth appeared the most rapid in 2020 when imports increased by 84% against the previous year. As a result, imports attained the peak of 1K tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.
In value terms, imports of cycles; parts, pedals and crank-gear, and parts thereoves surged to $7.9M in 2022. In general, imports saw a significant increase. The most prominent rate of growth was recorded in 2020 when imports increased by 259%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 0.4 | 0.2 | 4.6 | 6.4 | 152.0% |
| China | 0.6 | 3.8 | 1.2 | 1.0 | 18.6% |
| Singapore | N/A | N/A | 0.1 | 0.4 | 300.0% |
| Others | 0.3 | 0.6 | 0.2 | 0.2 | -12.6% |
| Total | 1.3 | 4.6 | 6.1 | 7.9 | 82.5% |
Top Suppliers of Cycles; Parts, Pedals and Crank-Gear, and Parts Thereof to the Philippines in 2022:
- Japan (656.9 tons)
- China (119.8 tons)
- Singapore (50.1 tons)
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