Price for Textile Fabrics; Tyrecord of High Tenacity Yarn of Polyester in the Philippines - 2024

Contents:

1. Price for Textile Fabrics; Tyrecord of High Tenacity Yarn of Polyester in the Philippines (CIF) - 2024
2. Price for Textile Fabrics; Tyrecord of High Tenacity Yarn of Polyester in the Philippines (FOB) - 2022
3. Imports of Textile Fabrics; Tyrecord of High Tenacity Yarn of Polyester in the Philippines
4. Exports of Textile Fabrics; Tyrecord of High Tenacity Yarn of Polyester in the Philippines

Price for Textile Fabrics; Tyrecord of High Tenacity Yarn of Polyester in the Philippines (CIF) - 2024

In January 2024, the average import price for textile fabrics; tyrecord of high tenacity yarn of polyesters amounted to $2,434 per ton, shrinking by -13.2% against the previous month. In general, the import price continues to indicate a pronounced decline. The most prominent rate of growth was recorded in March 2023 an increase of 10% m-o-m. Over the period under review, average import prices attained the peak figure at $3,351 per ton in January 2023; however, from February 2023 to January 2024, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In January 2024, the country with the highest price was Vietnam ($3,412 per ton), while the price for China amounted to $2,408 per ton.

From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Thailand (+189.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Textile Fabrics; Tyrecord of High Tenacity Yarn of Polyester in the Philippines (FOB) - 2022

The average export price for textile fabrics; tyrecord of high tenacity yarn of polyesters stood at $100 per ton in 2021, reducing by -99.4% against the previous year. In general, the export price continues to indicate a dramatic contraction. The most prominent rate of growth was recorded in 2020 an increase of 76% against the previous year. As a result, the export price attained the peak level of $15,648 per ton, and then contracted markedly in the following year.

As there is only one major export destination, the average price level is determined by prices for South Korea.

From 2012 to 2021, the rate of growth in terms of prices for Japan amounted to +11.7% per year.

Imports of Textile Fabrics; Tyrecord of High Tenacity Yarn of Polyester in the Philippines

In 2022, the amount of textile fabrics; tyrecord of high tenacity yarn of polyesters imported into the Philippines soared to 4.2K tons, picking up by 28% compared with the previous year's figure. Overall, imports recorded a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by 80% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of textile fabrics; tyrecord of high tenacity yarn of polyesters surged to $16M in 2022. Over the period under review, imports showed buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 73% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Top Suppliers of Textile Fabrics; Tyrecord of High Tenacity Yarn of Polyester to the Philippines in 2022:

1. China (3676.8 tons)
2. Vietnam (381.5 tons)
3. Thailand (89.3 tons)
4. Indonesia (33.4 tons)
5. Japan (10.3 tons)

Exports of Textile Fabrics; Tyrecord of High Tenacity Yarn of Polyester in the Philippines

In 2021, the amount of textile fabrics; tyrecord of high tenacity yarn of polyesters exported from the Philippines declined notably to 1 kg, shrinking by -98.7% compared with 2020 figures. In general, exports saw a significant decrease. The smallest decline of -84.5% was in 2020.

In value terms, exports of textile fabrics; tyrecord of high tenacity yarn of polyesters reduced dramatically to $1 in 2021. Over the period under review, exports recorded a sharp setback. The smallest decline of -72.9% was in 2020.

Top Export Markets for Textile Fabrics; Tyrecord of High Tenacity Yarn of Polyester from the Philippines in 2022:

1. South Korea (1.0 kg)

Source: IndexBox Market Intelligence Platform