Price for Electrical Push-Button and Rotary Switch in the Philippines - 2024
Contents:
- Price for Electrical Push-Button and Rotary Switch in the Philippines (FOB) - 2022
- Price for Electrical Push-Button and Rotary Switch in the Philippines (CIF) - 2022
- Exports of Electrical Push-Button and Rotary Switch in the Philippines
- Imports of Electrical Push-Button and Rotary Switch in the Philippines
Price for Electrical Push-Button and Rotary Switch in the Philippines (FOB) - 2022
The average export price for electrical push-button and rotary switches for under 1000 v stood at $3.2 per unit in 2022, increasing by 3.6% against the previous year. In general, the export price continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 61% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Indonesia ($3.2 per unit) and China ($3.2 per unit), while the average price for exports to Thailand ($3.2 per unit) and South Korea ($3.2 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Electrical Push-Button and Rotary Switch in the Philippines (CIF) - 2022
In 2022, the average import price for electrical push-button and rotary switches for under 1000 v amounted to $3.1 per unit, with an increase of 6.6% against the previous year. In general, the import price continues to indicate significant growth. The pace of growth was the most pronounced in 2019 when the average import price increased by 71% 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 near future.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Indonesia ($3.1 per unit) and Thailand ($3.1 per unit), while the price for Singapore ($3.1 per unit) and Taiwan (Chinese) ($3.1 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+37.3%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Electrical Push-Button and Rotary Switch in the Philippines
In 2022, approx. 59M units of electrical push-button and rotary switches for under 1000 v were exported from the Philippines; which is down by -8.6% on the previous year. In general, exports recorded a abrupt contraction. The growth pace was the most rapid in 2021 when exports increased by 161%. Over the period under review, the exports hit record highs at 74M units in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.
In value terms, electrical push-button and rotary switch exports declined to $190M in 2022. Overall, exports, however, saw strong growth. The pace of growth was the most pronounced in 2021 with an increase of 171%. As a result, the exports attained the peak of $201M, and then contracted in the following year.
| Export of Electrical Push-Button and Rotary Switch in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 66.4 | 23.4 | 87.8 | 70.6 | 2.1% |
| Japan | 38.4 | 8.1 | 38.1 | 46.4 | 6.5% |
| China | 27.0 | 26.3 | 36.9 | 36.4 | 10.5% |
| Thailand | 9.9 | 3.9 | 10.5 | 12.0 | 6.6% |
| Indonesia | 3.1 | 0.3 | 3.3 | 5.2 | 18.8% |
| Hong Kong SAR | 3.2 | 3.8 | 4.8 | 3.4 | 2.0% |
| South Korea | 2.9 | 2.3 | 4.1 | 3.3 | 4.4% |
| Singapore | 4.5 | 1.8 | 5.3 | 2.7 | -15.7% |
| Others | 8.7 | 4.2 | 9.7 | 9.8 | 4.0% |
| Total | 164 | 74.0 | 201 | 190 | 5.0% |
Top Export Markets for Electrical Push-Button and Rotary Switch from the Philippines in 2022:
- United States (21.9M units)
- Japan (14.4M units)
- China (11.3M units)
- Thailand (3.7M units)
- Indonesia (1.6M units)
- Hong Kong SAR (1.1M units)
- South Korea (1.0M units)
- Singapore (0.8M units)
Imports of Electrical Push-Button and Rotary Switch in the Philippines
In 2022, the amount of electrical push-button and rotary switches for under 1000 v imported into the Philippines contracted to 24M units, stabilizing at the previous year. In general, imports showed a drastic downturn. The growth pace was the most rapid in 2021 when imports increased by 11%. Imports peaked at 39M units in 2019; however, from 2020 to 2022, imports remained at a lower figure.
In value terms, electrical push-button and rotary switch imports expanded rapidly to $74M in 2022. Overall, imports showed a mild shrinkage. The growth pace was the most rapid in 2021 when imports increased by 21%. Over the period under review, imports hit record highs at $78M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Electrical Push-Button and Rotary Switch in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 17.1 | 12.9 | 13.7 | 20.3 | 5.9% |
| China | 13.2 | 7.5 | 8.8 | 10.9 | -6.2% |
| Hong Kong SAR | 8.1 | 7.1 | 10.1 | 9.0 | 3.6% |
| Singapore | 11.1 | 9.1 | 12.9 | 8.8 | -7.4% |
| United States | 7.0 | 4.3 | 5.1 | 5.5 | -7.7% |
| Thailand | 6.8 | 5.9 | 5.4 | 4.1 | -15.5% |
| Malaysia | 1.2 | 2.3 | 1.2 | 2.4 | 26.0% |
| Taiwan (Chinese) | 1.4 | 1.2 | 1.7 | 2.3 | 18.0% |
| Germany | 2.7 | 1.2 | 1.2 | 1.7 | -14.3% |
| South Korea | 2.7 | 1.3 | 1.8 | 1.5 | -17.8% |
| Indonesia | 0.9 | 0.7 | 1.3 | 1.2 | 10.1% |
| Others | 5.2 | 4.7 | 7.1 | 6.2 | 6.0% |
| Total | 77.5 | 58.2 | 70.2 | 73.8 | -1.6% |
Top Suppliers of Electrical Push-Button and Rotary Switch to the Philippines in 2022:
- Japan (6.5M units)
- China (3.5M units)
- Hong Kong SAR (2.9M units)
- Singapore (2.8M units)
- United States (1.8M units)
- Thailand (1.3M units)
- Malaysia (0.8M units)
- Taiwan (Chinese) (0.7M units)
- Germany (0.6M units)
- South Korea (0.5M units)
- Indonesia (0.4M units)
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