Price for New Pneumatic Tyres, of Rubber in the Philippines - 2022
Contents:
- Price for New Pneumatic Tyres, of Rubber in the Philippines (CIF) - 2022
- Price for New Pneumatic Tyres, of Rubber in the Philippines (FOB) - 2022
- Imports of New Pneumatic Tyres, of Rubber in the Philippines
- Exports of New Pneumatic Tyres, of Rubber in the Philippines
Price for New Pneumatic Tyres, of Rubber in the Philippines (CIF) - 2022
The average import price for new pneumatic tyres, of rubbers stood at $15 per unit in 2022, with a decrease of -6.6% against the previous year. Over the period under review, the import price recorded a perceptible descent. The most prominent rate of growth was recorded in 2017 when the average import price increased by 58%. The import price peaked at $22 per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($41 per unit), while the price for China ($8.1 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (+8.9%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for New Pneumatic Tyres, of Rubber in the Philippines (FOB) - 2022
In 2022, the average export price for new pneumatic tyres, of rubbers amounted to $43 per unit, increasing by 15% against the previous year. In general, the export price saw mild growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 1,045%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($50 per unit), while the average price for exports to Turkey ($1.6 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 Italy (+0.1%), while the prices for the other major destinations experienced a decline.
Imports of New Pneumatic Tyres, of Rubber in the Philippines
New pneumatic tyres, of rubber imports into the Philippines rose notably to 22M units in 2022, surging by 9.8% against 2021. Over the period under review, imports, however, showed a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Imports peaked at 35M units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
In value terms, new pneumatic tyres, of rubber imports expanded slightly to $335M in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 43%. Imports peaked in 2022 and are likely to see steady growth in years to come.
| Import of New Pneumatic Tyres, of Rubber in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 113 | 80.7 | 114 | 98.9 | -4.3% |
| Thailand | 71.0 | 54.8 | 65.4 | 83.3 | 5.5% |
| Indonesia | 53.4 | 28.1 | 58.0 | 60.8 | 4.4% |
| Japan | 38.7 | 29.0 | 39.1 | 40.1 | 1.2% |
| India | 25.1 | 19.5 | 27.4 | 26.0 | 1.2% |
| Vietnam | 7.9 | 4.3 | 6.0 | 6.2 | -7.8% |
| Others | 25.3 | 11.4 | 17.3 | 20.0 | -7.5% |
| Total | 334 | 228 | 327 | 335 | 0.1% |
Top Suppliers of New Pneumatic Tyres, of Rubber to the Philippines in 2022:
- China (12.3M units)
- Thailand (3.2M units)
- Indonesia (3.0M units)
- India (1.2M units)
- Japan (1.0M units)
- Vietnam (0.5M units)
Exports of New Pneumatic Tyres, of Rubber in the Philippines
In 2022, approx. 6.9M units of new pneumatic tyres, of rubbers were exported from the Philippines; declining by -2% against the previous year's figure. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 11%. As a result, the exports reached the peak of 7.1M units, and then fell slightly in the following year.
In value terms, new pneumatic tyres, of rubber exports stood at $299M in 2022. The total export value increased at an average annual rate of +6.4% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 19% against the previous year. The exports peaked in 2022 and are likely to see steady growth in years to come.
| Export of New Pneumatic Tyres, of Rubber in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 160 | 152 | 176 | 188 | 5.5% |
| Germany | 9.3 | 11.6 | 12.9 | 16.6 | 21.3% |
| Japan | 10.6 | 8.7 | 9.8 | 11.5 | 2.8% |
| Canada | 8.6 | 6.0 | 6.9 | 8.0 | -2.4% |
| Italy | 8.9 | 7.1 | 8.4 | 7.1 | -7.3% |
| Mexico | N/A | N/A | 0.2 | 6.6 | 3200.0% |
| United Kingdom | 6.2 | 4.1 | 6.6 | 6.2 | 0.0% |
| Taiwan (Chinese) | 1.5 | 2.8 | 5.5 | 4.9 | 48.4% |
| Turkey | 0.7 | 0.5 | 0.4 | 0.2 | -34.1% |
| Others | 42.1 | 31.1 | 40.0 | 49.6 | 5.6% |
| Total | 248 | 224 | 266 | 299 | 6.4% |
Top Export Markets for New Pneumatic Tyres, of Rubber from the Philippines in 2022:
- United States (3989.7K units)
- Germany (514.0K units)
- Japan (290.8K units)
- Italy (187.5K units)
- United Kingdom (180.3K units)
- Canada (158.4K units)
- Mexico (147.9K units)
- Taiwan (Chinese) (145.7K units)
- Turkey (142.4K units)
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