Price for Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in the Philippines - 2023
Contents:
- Price for Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in the Philippines (CIF) - 2022
- Price for Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in the Philippines (FOB) - 2022
- Imports of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in the Philippines
- Exports of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in the Philippines
Price for Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in the Philippines (CIF) - 2022
In 2022, the average import price for furniture; of cane, osier, or similar materials (other than bamboo or rattan) amounted to $6,092 per ton, surging by 13% against the previous year. In general, the import price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 41% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.
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 ($6,368 per ton), while the price for South Korea ($848 per ton) was amongst the lowest.
From 2017 to 2022, the most notable rate of growth in terms of prices was attained by China (+21.5%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in the Philippines (FOB) - 2022
The average export price for furniture; of cane, osier, or similar materials (other than bamboo or rattan) stood at $11,913 per ton in 2022, shrinking by -14.8% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 26% against the previous year. As a result, the export price reached the peak level of $13,983 per ton, and then shrank in the following year.
Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Japan ($11,907 per ton) and the United States ($11,907 per ton), while the average price for exports to South Korea ($11,906 per ton) and Singapore ($11,907 per ton) were amongst the lowest.
From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+18.1%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in the Philippines
In 2022, approx. 3.9K tons of furniture; of cane, osier, or similar materials (other than bamboo or rattan) were imported into the Philippines; flattening at the previous year. Overall, imports, however, continue to indicate a deep slump. The growth pace was the most rapid in 2021 with an increase of 6.9% against the previous year.
In value terms, imports of furniture; of cane, osier, or similar materials (other than bamboo or rattan) expanded remarkably to $24M in 2022. The total import value increased at an average annual rate of +6.2% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 18%. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 16.9 | 16.4 | 18.5 | 21.6 | 8.5% |
| Japan | N/A | N/A | N/A | 0.7 | 0% |
| South Korea | 0.6 | 0.4 | 0.8 | 0.2 | -30.7% |
| Others | 2.4 | 1.0 | 1.6 | 1.4 | -16.4% |
| Total | 19.9 | 17.7 | 20.9 | 23.9 | 6.3% |
Top Suppliers of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) to the Philippines in 2022:
- China (3394.7 tons)
- South Korea (243.9 tons)
- Japan (102.7 tons)
Exports of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in the Philippines
For the fourth consecutive year, the Philippines recorded growth in overseas shipments of furniture; of cane, osier, or similar materials (other than bamboo or rattan), which increased by 53% to 1K tons in 2022. Overall, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 178%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.
In value terms, exports of furniture; of cane, osier, or similar materials (other than bamboo or rattan) surged to $13M in 2022. In general, exports posted significant growth. The growth pace was the most rapid in 2021 when exports increased by 250%. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in years to come.
| Export of Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 2.3 | 2.4 | 8.6 | 10.3 | 64.8% |
| United Kingdom | N/A | N/A | N/A | 0.8 | 0% |
| Japan | N/A | N/A | N/A | 0.4 | 0% |
| Germany | N/A | N/A | N/A | 0.3 | 0% |
| Others | 0.3 | 0.3 | 1.0 | 0.7 | 32.6% |
| Total | 2.7 | 2.7 | 9.6 | 12.5 | 66.7% |
Top Export Markets for Furniture; of Cane, Osier, or Similar Materials (Other than Bamboo or Rattan) from the Philippines in 2022:
- United States (868.4 tons)
- United Kingdom (66.7 tons)
- Japan (30.1 tons)
- Germany (22.8 tons)
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