Price for Hand-Operated Spanners and Wrenches in the Philippines - 2023
Contents:
- Price for Hand-Operated Spanners and Wrenches in the Philippines (CIF) - 2022
- Price for Hand-Operated Spanners and Wrenches in the Philippines (FOB) - 2022
- Imports of Hand-Operated Spanners and Wrenches in the Philippines
- Exports of Hand-Operated Spanners and Wrenches in the Philippines
Price for Hand-Operated Spanners and Wrenches in the Philippines (CIF) - 2022
In 2022, the average hand-operated spanners and wrenches import price amounted to $14,029 per ton, growing by 21% against the previous year. In general, the import price showed a significant increase. The most prominent rate of growth was recorded in 2018 an increase of 87% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($15,548 per ton) and Japan ($14,743 per ton), while the price for Australia ($12,133 per ton) and India ($12,898 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+37.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Hand-Operated Spanners and Wrenches in the Philippines (FOB) - 2022
The average hand-operated spanners and wrenches export price stood at $22,017 per ton in 2022, dropping by -18.4% against the previous year. In general, the export price recorded a deep contraction. The most prominent rate of growth was recorded in 2017 an increase of 194%. As a result, the export price attained the peak level of $55,702 per ton. From 2018 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was China ($29,765 per ton), while the average price for exports to Australia ($19,788 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+13.4%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Hand-Operated Spanners and Wrenches in the Philippines
Hand-operated spanners and wrenches imports into the Philippines reduced rapidly to 555 tons in 2022, waning by -25.8% on the previous year. Overall, imports faced a dramatic descent.
In value terms, hand-operated spanners and wrenches imports declined to $7.8M in 2022. Over the period under review, imports continue to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2021 when imports increased by 4.6%.
| Import of Hand-Operated Spanners and Wrenches in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 5.4 | 3.5 | 2.6 | 2.8 | -19.7% |
| Japan | 1.9 | 1.4 | 2.5 | 1.9 | 0.0% |
| Hong Kong SAR | 0.7 | 1.0 | 1.1 | 0.9 | 8.7% |
| Taiwan (Chinese) | 1.0 | 0.6 | 0.7 | 0.6 | -15.7% |
| Singapore | 0.7 | 0.6 | 0.3 | 0.4 | -17.0% |
| United States | 0.6 | 0.4 | 0.5 | 0.4 | -12.6% |
| Australia | 0.5 | 0.1 | 0.1 | 0.2 | -26.3% |
| Others | 1.3 | 0.7 | 0.8 | 0.7 | -18.6% |
| Total | 12.1 | 8.3 | 8.6 | 7.8 | -13.6% |
Top Suppliers of Hand-Operated Spanners and Wrenches to the Philippines in 2022:
- China (207.7 tons)
- Japan (126.4 tons)
- Hong Kong SAR (60.1 tons)
- Taiwan (Chinese) (41.4 tons)
- Singapore (27.0 tons)
- United States (25.1 tons)
- Australia (13.8 tons)
Exports of Hand-Operated Spanners and Wrenches in the Philippines
In 2022, the amount of hand-operated spanners and wrencheses exported from the Philippines soared to 3 tons, increasing by 363% against 2021 figures. In general, exports, however, faced a deep setback. The pace of growth appeared the most rapid in 2020 with an increase of 609% against the previous year. As a result, the exports reached the peak of 36 tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, hand-operated spanners and wrenches exports soared to $65K in 2022. Overall, exports, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 372%. As a result, the exports reached the peak of $583K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Hand-Operated Spanners and Wrenches in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Australia | 1.7 | 110 | 14.7 | 43.1 | 193.8% |
| China | 93.0 | 0.1 | 0.3 | 12.4 | -48.9% |
| Japan | 16.1 | 34.0 | 0.8 | 7.2 | -23.5% |
| Hong Kong SAR | 2.1 | 5.6 | 0.9 | 2.7 | 8.7% |
| Thailand | N/A | 124 | N/A | N/A | 0% |
| Malaysia | N/A | 304 | N/A | N/A | 0% |
| Others | 10.8 | 5.4 | 0.6 | N/A | -76.4% |
| Total | 124 | 583 | 17.3 | 65.3 | -19.2% |
Top Export Markets for Hand-Operated Spanners and Wrenches from the Philippines in 2022:
- Australia (2176.0 kg)
- China (417.0 kg)
- Japan (284.0 kg)
- Hong Kong SAR (91.0 kg)
346
This report provides an in-depth analysis of the interchangeable spanner socket market in the Philippines.
616
This report provides an in-depth analysis of the hand tools market in the Philippines.
380
This report provides an in-depth analysis of the manifold business form market in the Philippines.
709
This report provides an in-depth analysis of the global interchangeable spanner socket market.
2843
This report provides an in-depth analysis of the global hand tools market.
488
This report provides an in-depth analysis of the global manifold business form market.
346
This report provides an in-depth analysis of the interchangeable spanner socket market in the Philippines.
709
This report provides an in-depth analysis of the global interchangeable spanner socket market.
532
Explore the top 10 countries with the highest import value for hand tools. Learn about the market statistics, key players, and trends in the industry. Find out how the IndexBox market intelligence platform can help you stay ahead in this competitive market.
1106
Hand tool manufacture is gradually seeing a recovery, following the decline in 2020. The market is forecast to accelerate, due to the increased need for DIY and repair work and construction growth in terms of private homes.
2739
In 2016, the global hand tools market amounted to $X in wholesale prices. This figure reflects the total revenue of producers and importers.
757
In value terms, hand-operated mechanical appliances imports amounted to $X in 2016. The total import value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern indicate...
721
In value terms, hand tools, two and more of heading imports amounted to $X in 2016. Overall, hand tools, two and more of heading imports continue to indicate a relatively flat trend pattern. Over t...
709
In value terms, files, rasps, pliers imports amounted to $X in 2016. Overall, files, rasps, pliers imports continue to indicate a relatively flat trend pattern. Global files, rasps, pliers import p...
753
In value terms, files, rasps, pliers exports totaled $X in 2016. The total export value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern indicated some noticeable f...
737
In value terms, hand-operated mechanical appliances exports stood at $X in 2016. The total export value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern indicated s...
718
In value terms, hand tools, two and more of heading exports stood at $X in 2016. The total export value increased at an average annual rate of +X% from 2007 to 2016; the trend pattern indicated som...
1429
In 2016, the amount of hand tools imported worldwide totaled X tons, approximately reflecting the previous year level. The total import volume increased at an average annual rate of +X% from X>
