Price for Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in the Philippines - 2023

Contents:

1. Price for Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in the Philippines (CIF) - 2022
2. Price for Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in the Philippines (FOB) - 2022
3. Imports of Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in the Philippines
4. Exports of Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in the Philippines

Price for Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in the Philippines (CIF) - 2022

The average import price for footwear; parts, outer soles and heels, of rubber or plasticses stood at $3,156 per ton in 2022, declining by -28.3% against the previous year. Over the period under review, the import price, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by 66% against the previous year. Over the period under review, average import prices reached the maximum at $5,082 per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Macao SAR ($7,306 per ton), while the price for Taiwan (Chinese) ($644 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+20.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in the Philippines (FOB) - 2022

In 2022, the average export price for footwear; parts, outer soles and heels, of rubber or plasticses amounted to $8,738 per ton, picking up by 22% against the previous year. Overall, the export price, however, saw a abrupt curtailment. The growth pace was the most rapid in 2020 an increase of 87% against the previous year. Over the period under review, the average export prices hit record highs at $17,676 per ton in 2012; however, from 2013 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 Japan ($8,766 per ton), while the average price for exports to China amounted to $5,386 per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+137.6%), while the prices for the other major destinations experienced a decline.

Imports of Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in the Philippines

Imports of footwear; parts, outer soles and heels, of rubber or plasticses into the Philippines surged to 3.6K tons in 2022, rising by 43% against 2021 figures. Over the period under review, imports continue to indicate a temperate expansion. The pace of growth was the most pronounced in 2021 when imports increased by 116%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of footwear; parts, outer soles and heels, of rubber or plasticses totaled $11M in 2022. In general, imports, however, continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 87%.

Top Suppliers of Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics to the Philippines in 2022:

1. China (2674.9 tons)
2. Macao SAR (325.0 tons)
3. Vietnam (311.7 tons)
4. Taiwan (Chinese) (118.2 tons)
5. Hong Kong SAR (85.7 tons)

Exports of Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics in the Philippines

In 2022, shipments abroad of footwear; parts, outer soles and heels, of rubber or plasticses decreased by -1.7% to 91 tons, falling for the second consecutive year after two years of growth. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 913% against the previous year. As a result, the exports attained the peak of 93 tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of footwear; parts, outer soles and heels, of rubber or plasticses soared to $797K in 2022. In general, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 1,792% against the previous year. As a result, the exports reached the peak of $835K. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

Top Export Markets for Footwear; Parts, Outer Soles and Heels, of Rubber or Plastics from the Philippines in 2022:

1. Japan (90.6 tons)
2. China (0.6 tons)

Source: IndexBox Market Intelligence Platform