Price for Textile Machinery; Spinning Machines in the Philippines - 2023
Contents:
- Price for Textile Machinery; Spinning Machines in the Philippines (CIF) - 2022
- Imports of Textile Machinery; Spinning Machines in the Philippines
Price for Textile Machinery; Spinning Machines in the Philippines (CIF) - 2022
In 2022, the average textile machinery; spinning machines import price amounted to $244 per unit, dropping by -90% against the previous year. Over the period under review, the import price saw a mild shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 1,465%. As a result, import price attained the peak level of $4,495 per unit. From 2014 to 2022, the average import prices remained 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 Japan ($865 per unit), while the price for the United States ($76 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (-7.6%), while the prices for the other major suppliers experienced a decline.
Imports of Textile Machinery; Spinning Machines in the Philippines
Textile machinery; spinning machines imports into the Philippines soared to 89 units in 2022, picking up by 1,383% on 2021 figures. Overall, imports enjoyed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, textile machinery; spinning machines imports soared to $22K in 2022. Over the period under review, imports, however, continue to indicate a sharp contraction. The pace of growth was the most pronounced in 2021 when imports increased by 468%. Imports peaked at $167K in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Textile Machinery; Spinning Machines in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 22.0 | N/A | 0.1 | 19.1 | -4.6% |
| Japan | 1.8 | 2.6 | 2.1 | 1.7 | -1.9% |
| United States | N/A | N/A | N/A | 0.8 | 0% |
| India | 120 | N/A | 12.4 | N/A | -67.9% |
| Singapore | 4.3 | N/A | N/A | N/A | 0% |
| Others | 18.7 | N/A | N/A | 0.1 | -82.5% |
| Total | 167 | 2.6 | 14.6 | 21.7 | -49.3% |
Top Suppliers of Textile Machinery; Spinning Machines to the Philippines in 2022:
- China (76.0 units)
- United States (10.0 units)
- Japan (2.0 units)
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