Price for Tents of Synthetic Fibres in the Philippines - 2023

Contents:

1. Price for Tents of Synthetic Fibres in the Philippines (CIF) - 2022
2. Price for Tents of Synthetic Fibres in the Philippines (FOB) - 2022
3. Imports of Tents of Synthetic Fibres in the Philippines
4. Exports of Tents of Synthetic Fibres in the Philippines

Price for Tents of Synthetic Fibres in the Philippines (CIF) - 2022

In 2022, the average tents of synthetic fibres import price amounted to $2,239 per ton, which is down by -15.5% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 65% against the previous year. Over the period under review, average import prices reached the peak figure at $3,548 per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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 Malaysia ($10,282 per ton), while the price for South Korea ($729 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+15.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Tents of Synthetic Fibres in the Philippines (FOB) - 2022

The average tents of synthetic fibres export price stood at $58,237 per ton in 2022, therefore, remained relatively stable against the previous year. In general, the export price recorded significant growth. The pace of growth appeared the most rapid in 2019 an increase of 177%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Japan ($81,063 per ton), while the average price for exports to the United States ($38,217 per ton) was amongst the lowest.

From 2014 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+41.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Tents of Synthetic Fibres in the Philippines

In 2022, supplies from abroad of tents of synthetic fibreses increased by 97% to 1.9K tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports showed prominent growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tents of synthetic fibres imports soared to $4.3M in 2022. Overall, total imports indicated a prominent increase from 2019 to 2022: its value increased at an average annual rate of +9.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Tents of Synthetic Fibres to the Philippines in 2022:

1. China (1366.8 tons)
2. South Korea (393.0 tons)
3. Malaysia (62.5 tons)

Exports of Tents of Synthetic Fibres in the Philippines

For the third year in a row, the Philippines recorded decline in overseas shipments of tents of synthetic fibreses, which decreased by 0% to 59 kg in 2022. Overall, exports saw a precipitous decline. The smallest decline of -98% was in 2020.

In value terms, tents of synthetic fibres exports totaled $3.4K in 2022. In general, exports saw a precipitous slump. The smallest decline of -95.1% was in 2020.

Top Export Markets for Tents of Synthetic Fibres from the Philippines in 2022:

1. United States (23.0 kg)
2. Micronesia (20.0 kg)
3. Japan (16.0 kg)

Source: IndexBox Market Intelligence Platform