Price for Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in the Philippines - 2024

Contents:

1. Price for Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in the Philippines (CIF) - 2022
2. Price for Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in the Philippines (FOB) - 2024
3. Imports of Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in the Philippines
4. Exports of Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in the Philippines

Price for Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in the Philippines (CIF) - 2022

The average import price for textile fabrics, rubberised; other than those of heading no. 5902s stood at $3.2 per square meter in 2022, jumping by 20% against the previous year. Overall, the import price showed strong growth. The pace of growth appeared the most rapid in 2013 when the average import price increased by 59%. Over the period under review, average import prices hit record highs at $3.2 per square meter in 2018; afterwards, it flattened through to 2022.

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 Hong Kong SAR ($11 per square meter), while the price for China ($1.1 per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+32.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in the Philippines (FOB) - 2024

The average export price for textile fabrics, rubberised; other than those of heading no. 5902s stood at $3.6 per square meter in January 2024, with an increase of 126% against the previous month. Overall, the export price enjoyed a prominent increase. The most prominent rate of growth was recorded in February 2023 when the average export price increased by 199% against the previous month. Over the period under review, the average export prices reached the maximum at $6.1 per square meter in October 2023; however, from November 2023 to January 2024, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In January 2024, the country with the highest price was South Korea ($6.5 per square meter), while the average price for exports to India ($990 per thousand square meters) was amongst the lowest.

From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+1.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in the Philippines

In 2022, the amount of textile fabrics, rubberised; other than those of heading no. 5902s imported into the Philippines shrank to 6.7M square meters, declining by -1.6% compared with the year before. Over the period under review, imports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2021 when imports increased by 13%. Over the period under review, imports of reached the peak figure at 9.4M square meters in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of textile fabrics, rubberised; other than those of heading no. 5902s surged to $21M in 2022. In general, imports recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by 25% against the previous year. Over the period under review, imports of reached the maximum at $28M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Top Suppliers of Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 to the Philippines in 2022:

1. China (2405.5K square meters)
2. Japan (1635.6K square meters)
3. Indonesia (1019.4K square meters)
4. South Korea (602.2K square meters)
5. Malaysia (306.6K square meters)
6. Singapore (169.9K square meters)
7. India (108.0K square meters)
8. Taiwan (Chinese) (102.4K square meters)
9. United States (68.8K square meters)
10. Hong Kong SAR (63.7K square meters)
11. Vietnam (62.2K square meters)

Exports of Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 in the Philippines

In 2022, after three years of growth, there was significant decline in overseas shipments of textile fabrics, rubberised; other than those of heading no. 5902s, when their volume decreased by -6.8% to 2M square meters. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 140% against the previous year. As a result, the exports attained the peak of 2.2M square meters, and then fell in the following year.

In value terms, exports of textile fabrics, rubberised; other than those of heading no. 5902s expanded notably to $3.1M in 2022. Over the period under review, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2021 when exports increased by 116% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Top Export Markets for Textile Fabrics, Rubberised; Other than Those of Heading No. 5902 from the Philippines in 2022:

1. India (461.7K square meters)
2. Mexico (420.9K square meters)
3. United States (380.7K square meters)
4. Honduras (240.7K square meters)
5. China (224.6K square meters)
6. South Africa (118.5K square meters)
7. Morocco (103.7K square meters)
8. South Korea (38.0K square meters)

Source: IndexBox Market Intelligence Platform