Price for Safety Pins and Other Pins; of Iron or Steel in the Philippines - 2024
Contents:
- Price for Safety Pins and Other Pins; of Iron or Steel in the Philippines (CIF) - 2022
- Price for Safety Pins and Other Pins; of Iron or Steel in the Philippines (FOB) - 2022
- Imports of Safety Pins and Other Pins; of Iron or Steel in the Philippines
- Exports of Safety Pins and Other Pins; of Iron or Steel in the Philippines
Price for Safety Pins and Other Pins; of Iron or Steel in the Philippines (CIF) - 2022
In 2022, the average import price for safety pins and other pins; of iron or steels amounted to $6,932 per ton, waning by -35.6% against the previous year. Overall, the import price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2018 when the average import price decreased by -0.9%. The import price peaked at $15,668 per ton in 2017; however, from 2018 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 Japan ($64,059 per ton), while the price for Indonesia ($2,337 per ton) was amongst the lowest.
From 2017 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (-14.0%), while the prices for the other major suppliers experienced a decline.
Price for Safety Pins and Other Pins; of Iron or Steel in the Philippines (FOB) - 2022
In 2022, the average export price for safety pins and other pins; of iron or steels amounted to $621,954 per ton, rising by 519% against the previous year. Overall, the export price posted a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Singapore ($740,000 per ton), while the average price for exports to South Korea ($628,942 per ton) was amongst the lowest.
From 2017 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+75.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Safety Pins and Other Pins; of Iron or Steel in the Philippines
In 2022, the amount of safety pins and other pins; of iron or steels imported into the Philippines surged to 1.1K tons, increasing by 82% on the previous year. Overall, imports enjoyed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, imports of safety pins and other pins; of iron or steels soared to $8M in 2022. The total import value increased at an average annual rate of +8.0% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 25% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
| Import of Safety Pins and Other Pins; of Iron or Steel in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 1.6 | 1.4 | 1.9 | 4.1 | 36.8% |
| Singapore | 1.5 | 1.4 | 2.0 | 2.8 | 23.1% |
| Japan | 2.8 | 2.4 | 2.5 | 0.8 | -34.1% |
| Indonesia | N/A | N/A | N/A | N/A | 0% |
| Others | 0.4 | 0.2 | 0.3 | 0.2 | -20.6% |
| Total | 6.3 | 5.4 | 6.8 | 8.0 | 8.3% |
Top Suppliers of Safety Pins and Other Pins; of Iron or Steel to the Philippines in 2022:
- China (908.0 tons)
- Singapore (192.1 tons)
- Indonesia (17.5 tons)
- Japan (13.2 tons)
Exports of Safety Pins and Other Pins; of Iron or Steel in the Philippines
In 2022, shipments abroad of safety pins and other pins; of iron or steels decreased by -14.2% to 327 kg, falling for the second consecutive year after two years of growth. In general, exports, however, recorded a significant increase. The growth pace was the most rapid in 2020 with an increase of 478%. As a result, the exports attained the peak of 966 kg. From 2021 to 2022, the growth of the exports of remained at a lower figure.
In value terms, exports of safety pins and other pins; of iron or steels surged to $203K in 2022. Overall, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 508%. The exports peaked in 2022 and are likely to continue growth in the immediate term.
| Export of Safety Pins and Other Pins; of Iron or Steel in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Indonesia | 1.0 | 8.1 | 30.0 | 146 | 426.6% |
| South Korea | N/A | 17.5 | 3.2 | 54.1 | 75.8% |
| Singapore | 5.1 | 4.6 | N/A | 1.5 | -33.5% |
| Malaysia | 4.8 | 36.2 | 4.5 | N/A | -3.2% |
| Others | 0.5 | 3.2 | 0.7 | 1.9 | 56.0% |
| Total | 11.4 | 69.5 | 38.3 | 203 | 161.1% |
Top Export Markets for Safety Pins and Other Pins; of Iron or Steel from the Philippines in 2022:
- Indonesia (230.0 kg)
- South Korea (86.0 kg)
- Singapore (2.0 kg)
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