Price for Electrical Insulators of Any Material in the Philippines - 2023

Price for Electrical Insulators of Any Material in the Philippines (CIF) - 2022

In 2022, the average import price for electrical insulators of any materials amounted to $0.3 per unit, which is down by -25.9% against the previous year. In general, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 an increase of 35% against the previous year. The import price peaked at $0.4 per unit in 2021, and then dropped dramatically in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($3.2 per unit), while the price for China ($0.2 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+25.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Electrical Insulators of Any Material in the Philippines (FOB) - 2022

In 2022, the average export price for electrical insulators of any materials amounted to $0.6 per unit, falling by -68.4% against the previous year. In general, the export price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2019 when the average export price increased by 69%. The export price peaked at $5.6 per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 Hong Kong SAR ($4.3 per unit), while the average price for exports to Guam ($0.5 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 Thailand (+9.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Electrical Insulators of Any Material in the Philippines

In 2022, the amount of electrical insulators of any materials imported into the Philippines surged to 131M units, picking up by 36% on the previous year's figure. The total import volume increased at an average annual rate of +4.7% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Imports peaked at 134M units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, electrical insulators of any material imports stood at $38M in 2022. The total import value increased at an average annual rate of +5.9% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 32% against the previous year. As a result, imports attained the peak of $42M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Import of Electrical Insulators of Any Material in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	16.2	27.8	18.4	19.4	6.2%
Thailand	0.1	1.5	2.6	3.5	227.1%
Hong Kong SAR	3.9	3.7	3.8	3.5	-3.5%
United States	3.5	2.8	4.5	2.7	-8.3%
Germany	0.3	0.3	0.8	0.9	44.2%
Others	7.7	5.8	7.2	7.5	-0.9%
Total	31.6	41.8	37.3	37.6	6.0%

Top Suppliers of Electrical Insulators of Any Material to the Philippines in 2022:

China (111.5M units)
Hong Kong SAR (9.5M units)
Germany (2.4M units)
Thailand (2.1M units)
United States (1.8M units)

Exports of Electrical Insulators of Any Material in the Philippines

In 2022, overseas shipments of electrical insulators of any materials were finally on the rise to reach 3.3M units after two years of decline. 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, electrical insulators of any material exports skyrocketed to $2.1M in 2022. Overall, exports showed a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Electrical Insulators of Any Material in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Guam	N/A	N/A	N/A	1,750	0%
Japan	149	156	69.1	111	-9.3%
Thailand	36.4	103	1.5	42.7	5.5%
Others	296	151	105	154	-19.6%
Total	481	410	175	2,058	62.3%