Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in the Philippines - 2023
Contents:
- Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in the Philippines (FOB) - 2022
- Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in the Philippines (CIF) - 2022
- Exports of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in the Philippines
- Imports of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in the Philippines
Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in the Philippines (FOB) - 2022
The average export price for electric motors and generators stood at $14 per unit in 2022, rising by 22% against the previous year. Over the period under review, the export price, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 an increase of 78%. Over the period under review, the average export prices hit record highs at $66 per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($24 per unit), while the average price for exports to Vietnam ($3.3 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 Malaysia (+2.6%), while the prices for the other major destinations experienced mixed trend patterns.
Price for Electric Motors and Generators; DC, of an Output Not Exceeding 750W in the Philippines (CIF) - 2022
The average import price for electric motors and generators stood at $9.9 per unit in 2022, shrinking by -34.2% against the previous year. Over the period under review, the import price recorded a abrupt decline. The most prominent rate of growth was recorded in 2013 an increase of 39%. As a result, import price reached the peak level of $62 per unit. From 2014 to 2022, the average import prices remained at a somewhat lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($133 per unit), while the price for China ($4.4 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (-3.5%), while the prices for the other major suppliers experienced a decline.
Exports of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in the Philippines
For the third consecutive year, the Philippines recorded decline in shipments abroad of electric motors and generators, which decreased by -2.8% to 8.7M units in 2022. In general, exports showed a perceptible decrease. The smallest decline of -0.1% was in 2020. The exports peaked at 9.5M units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, exports of electric motors and generators soared to $118M in 2022. The total export value increased at an average annual rate of +8.8% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 39.8 | 46.3 | 42.8 | 48.7 | 7.0% |
| Japan | 15.4 | 12.9 | 13.1 | 15.5 | 0.2% |
| Mexico | 6.3 | 2.9 | 14.5 | 14.8 | 32.9% |
| China | 8.4 | 8.7 | 6.6 | 12.4 | 13.9% |
| Vietnam | 12.6 | 11.9 | 13.3 | 11.3 | -3.6% |
| Thailand | 6.2 | 5.1 | 6.8 | 3.7 | -15.8% |
| Others | 2.8 | 2.2 | 2.4 | 11.5 | 60.1% |
| Total | 91.4 | 89.9 | 99.6 | 118 | 8.9% |
Top Export Markets for Electric Motors and Generators; DC, of an Output Not Exceeding 750W from the Philippines in 2022:
- Vietnam (3.4M units)
- Malaysia (2.5M units)
- Mexico (0.8M units)
- Japan (0.7M units)
- China (0.5M units)
- Thailand (0.2M units)
Imports of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in the Philippines
In 2022, imports of electric motors and generators into the Philippines soared to 1.7M units, rising by 26% against 2021 figures. In general, imports showed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 88%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, imports of electric motors and generators declined sharply to $17M in 2022. The total import value increased at an average annual rate of +4.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 27% against the previous year. Over the period under review, imports of reached the peak figure at $20M in 2021, and then shrank markedly in the following year.
| Import of Electric Motors and Generators; DC, of an Output Not Exceeding 750W in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2.5 | 2.1 | 4.7 | 5.9 | 33.1% |
| Singapore | 1.2 | 7.3 | 4.2 | 4.5 | 55.4% |
| Japan | 2.3 | 2.1 | 3.0 | 1.4 | -15.3% |
| United States | 1.5 | 1.1 | 2.1 | 1.3 | -4.7% |
| Hong Kong SAR | 1.3 | 1.6 | 1.6 | 1.0 | -8.4% |
| Malaysia | 0.3 | 0.4 | 1.2 | 0.4 | 10.1% |
| Taiwan (Chinese) | 1.9 | 2.9 | 2.1 | 0.3 | -46.0% |
| Vietnam | 0.3 | N/A | N/A | 0.2 | -12.6% |
| Others | 3.7 | 1.6 | 1.5 | 1.9 | -19.9% |
| Total | 15.0 | 19.0 | 20.3 | 16.9 | 4.1% |
Top Suppliers of Electric Motors and Generators; DC, of an Output Not Exceeding 750W to the Philippines in 2022:
- China (1334.9K units)
- Japan (112.3K units)
- Hong Kong SAR (45.0K units)
- Singapore (39.6K units)
- United States (37.4K units)
- Vietnam (30.6K units)
- Taiwan (Chinese) (28.4K units)
- Malaysia (13.9K units)
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