Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in the Philippines - 2024
Contents:
- Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in the Philippines (CIF) - 2024
- Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in the Philippines (FOB) - 2022
- Imports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in the Philippines
- Exports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in the Philippines
Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in the Philippines (CIF) - 2024
The average import price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs stood at $45,063 per unit in January 2024, growing by 3.9% against the previous month. Over the period under review, the import price, however, continues to indicate a mild decrease. The pace of growth was the most pronounced in August 2023 an increase of 140% against the previous month. As a result, import price reached the peak level of $109K per unit. From September 2023 to January 2024, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In January 2024, the country with the highest price was Hong Kong SAR ($123K per unit), while the price for Japan ($36,515 per unit) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+8.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in the Philippines (FOB) - 2022
In 2022, the average export price for vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs amounted to $73,034 per unit, with an increase of 33% against the previous year. In general, the export price enjoyed significant growth. The growth pace was the most rapid in 2014 an increase of 24,783%. Over the period under review, the average export prices hit record highs at $192,853 per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($124,470 per unit), while the average price for exports to Angola ($25,830 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+294.8%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in the Philippines
Imports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs into the Philippines surged to 2.6K units in 2022, rising by 53% on 2021. Overall, imports, however, saw a sharp contraction. Over the period under review, imports of hit record highs at 6.5K units in 2019; however, from 2020 to 2022, imports failed to regain momentum.
In value terms, imports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs skyrocketed to $104M in 2022. In general, imports, however, faced a deep slump. Imports peaked at $144M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 109 | 46.0 | 33.5 | 56.1 | -19.9% |
| United States | 14.4 | 6.9 | 10.0 | 9.6 | -12.6% |
| South Korea | 1.8 | 0.4 | 2.5 | 8.7 | 69.1% |
| Canada | 1.8 | 2.6 | 4.3 | 7.1 | 58.0% |
| United Arab Emirates | 6.6 | 2.2 | 4.6 | 5.4 | -6.5% |
| Mexico | N/A | 0.1 | 0.8 | 5.3 | 628.0% |
| Germany | 1.7 | 2.4 | 3.4 | 3.8 | 30.8% |
| Others | 8.6 | 5.0 | 4.8 | 8.4 | -0.8% |
| Total | 144 | 65.5 | 64.0 | 104 | -10.3% |
Top Suppliers of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc to the Philippines in 2022:
- Japan (1870.0 units)
- United States (273.0 units)
- Canada (115.0 units)
- United Arab Emirates (84.0 units)
- South Korea (82.0 units)
- Mexico (74.0 units)
- Germany (55.0 units)
Exports of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in the Philippines
In 2022, the amount of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs exported from the Philippines surged to 209 units, with an increase of 161% on 2021. Over the period under review, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 7,900% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
In value terms, exports of vehicles; spark-ignition internal combustion reciprocating piston engine, cylinder capacity exceeding 3000ccs surged to $15M in 2022. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 6,315%. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | N/A | N/A | 0.9 | 12.3 | 1266.7% |
| United Arab Emirates | N/A | N/A | 0.9 | 1.6 | 77.8% |
| Hong Kong SAR | N/A | N/A | N/A | 0.5 | 0% |
| Angola | N/A | N/A | N/A | 0.2 | 0% |
| Thailand | N/A | N/A | 1.3 | 0.2 | -84.6% |
| Djibouti | N/A | N/A | 0.5 | 0.1 | -80.0% |
| Belgium | N/A | N/A | 0.1 | 0.1 | 0.0% |
| Dominican Republic | N/A | N/A | 0.2 | N/A | 0% |
| Others | 0.3 | 0.1 | 0.4 | 0.2 | -12.6% |
| Total | 0.3 | 0.1 | 4.3 | 15.2 | 270.0% |
Top Export Markets for Vehicles; Spark-Ignition Internal Combustion Reciprocating Piston Engine, Cylinder Capacity Exceeding 3000cc from the Philippines in 2022:
- China (143.0 units)
- United Arab Emirates (38.0 units)
- Angola (9.0 units)
- Thailand (5.0 units)
- Hong Kong SAR (4.0 units)
- Belgium (2.0 units)
- Djibouti (1.0 units)
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