Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in the Philippines - 2024

Contents:

1. Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in the Philippines (CIF) - 2022
2. Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in the Philippines (FOB) - 2022
3. Imports of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in the Philippines
4. Exports of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in the Philippines

Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in the Philippines (CIF) - 2022

The average import price for fabrics, woven; from strip or the like, of synthetic textile materialses stood at $0.4 per square meter in 2022, picking up by 7.9% against the previous year. Over the period under review, import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for fabrics, woven; from strip or the like, of synthetic textile materialses increased by +26.9% against 2020 indices. The growth pace was the most rapid in 2014 an increase of 50%. As a result, import price attained the peak level of $0.5 per square meter. From 2015 to 2022, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Vietnam ($0.4 per square meter) and Indonesia ($0.4 per square meter), while the price for Hong Kong SAR ($0.3 per square meter) and South Korea ($0.3 per square meter) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in the Philippines (FOB) - 2022

In 2022, the average export price for fabrics, woven; from strip or the like, of synthetic textile materialses amounted to $0.4 per square meter, remaining stable against the previous year. Over the period under review, the export price continues to indicate a sharp curtailment. The most prominent rate of growth was recorded in 2018 when the average export price decreased by -48.6% against the previous year. Over the period under review, the average export prices attained the maximum at $2.1 per square meter in 2015; however, from 2016 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 ($0.4 per square meter), while the average price for exports to Australia stood at $0.3 per square meter.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (-23.0%).

Imports of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in the Philippines

In 2022, after three years of growth, there was significant decline in purchases abroad of fabrics, woven; from strip or the like, of synthetic textile materialses, when their volume decreased by -36.6% to 8.8M square meters. Over the period under review, imports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 197% against the previous year. As a result, imports reached the peak of 14M square meters, and then reduced notably in the following year.

In value terms, imports of fabrics, woven; from strip or the like, of synthetic textile materialses contracted sharply to $3.4M in 2022. In general, imports, however, recorded significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 249%. As a result, imports attained the peak of $4.9M, and then declined significantly in the following year.

Top Suppliers of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials to the Philippines in 2022:

1. China (5.8M square meters)
2. Indonesia (2.0M square meters)
3. Vietnam (0.3M square meters)
4. South Korea (0.2M square meters)
5. Malaysia (0.1M square meters)
6. Hong Kong SAR (0.1M square meters)

Exports of Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials in the Philippines

Exports of fabrics, woven; from strip or the like, of synthetic textile materialses from the Philippines amounted to 2M square meters in 2022, stabilizing at the year before. Overall, exports enjoyed a significant increase. The smallest decline of 99.9% was in 2021. Over the period under review, the exports of fabrics, woven; from strip or like, of synthetic textile materialses reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, exports of fabrics, woven; from strip or the like, of synthetic textile materialses stood at $836K in 2022. Over the period under review, exports showed significant growth. The smallest decline of 99.9% was in 2021. Over the period under review, the exports of fabrics, woven; from strip or like, of synthetic textile materialses reached the peak figure in 2022 and are likely to continue growth in years to come.

Top Export Markets for Fabrics, Woven; from Strip or the Like, of Synthetic Textile Materials from the Philippines in 2022:

1. China (1922.9K square meters)
2. Australia (124.3K square meters)

Source: IndexBox Market Intelligence Platform