Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in the Philippines - 2023

Contents:

1. Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in the Philippines (CIF) - 2022
2. Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in the Philippines (FOB) - 2022
3. Imports of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in the Philippines
4. Exports of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in the Philippines

Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in the Philippines (CIF) - 2022

In 2022, the average import price for weighing machines; having a maximum weighing capacity exceeding 5000kgs amounted to $326 per unit, picking up by 8% against the previous year. Overall, the import price, however, showed a pronounced downturn. The pace of growth appeared the most rapid in 2015 when the average import price increased by 23%. Over the period under review, average import prices attained the peak figure at $477 per unit in 2012; however, from 2013 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 Taiwan (Chinese) ($726 per unit), while the price for China ($249 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in the Philippines (FOB) - 2022

The average export price for weighing machines; having a maximum weighing capacity exceeding 5000kgs stood at $348 per unit in 2022, rising by 59% against the previous year. In general, the export price enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2019 an increase of 441%. As a result, the export price attained the peak level of $591 per unit. From 2020 to 2022, the average 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 the United States ($515 per unit), while the average price for exports to Palau totaled $1.2 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (-18.3%), while the prices for the other major destinations experienced a decline.

Imports of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in the Philippines

Imports of weighing machines; having a maximum weighing capacity exceeding 5000kgs into the Philippines surged to 4.5K units in 2022, rising by 33% compared with the previous year's figure. In general, imports, however, saw a noticeable decline. Imports peaked at 6.2K units in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, imports of weighing machines; having a maximum weighing capacity exceeding 5000kgs surged to $1.5M in 2022. Overall, imports, however, continue to indicate a drastic downturn. Over the period under review, imports of hit record highs at $1.9M in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Top Suppliers of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg to the Philippines in 2022:

1. China (3872.0 units)
2. Japan (328.0 units)
3. Singapore (107.0 units)
4. Taiwan (Chinese) (78.0 units)

Exports of Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg in the Philippines

In 2022, after two years of decline, there was decline in overseas shipments of weighing machines; having a maximum weighing capacity exceeding 5000kgs, when their volume decreased by -3.6% to 80 units. In general, exports, however, showed significant growth. Over the period under review, the exports of reached the peak figure at 83 units in 2021, and then contracted modestly in the following year.

In value terms, exports of weighing machines; having a maximum weighing capacity exceeding 5000kgs soared to $28K in 2022. Overall, exports, however, continue to indicate a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Top Export Markets for Weighing Machines; Having A Maximum Weighing Capacity Exceeding 5000kg from the Philippines in 2022:

1. United States (54.0 units)
2. Palau (26.0 units)

Source: IndexBox Market Intelligence Platform