Price for Inner Tubes, of Rubber in the Philippines - 2023
Contents:
- Price for Inner Tubes, of Rubber in the Philippines (CIF) - 2022
- Price for Inner Tubes, of Rubber in the Philippines (FOB) - 2022
- Imports of Inner Tubes, of Rubber in the Philippines
- Exports of Inner Tubes, of Rubber in the Philippines
Price for Inner Tubes, of Rubber in the Philippines (CIF) - 2022
The average inner tubes, of rubber import price stood at $0.7 per unit in 2022, rising by 19% against the previous year. Overall, the import price posted moderate growth. The most prominent rate of growth was recorded in 2015 an increase of 73% against the previous year. Over the period under review, average import prices hit record highs at $1.6 per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.
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 ($3.6 per unit), while the price for Indonesia ($0.3 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+11.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Inner Tubes, of Rubber in the Philippines (FOB) - 2022
In 2022, the average inner tubes, of rubber export price amounted to $0.9 per unit, with an increase of 13% against the previous year. Over the period under review, the export price, however, showed a noticeable setback. The growth pace was the most rapid in 2014 when the average export price increased by 112% against the previous year. As a result, the export price reached the peak level of $2.8 per unit. From 2015 to 2022, the average export prices failed to regain momentum.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($4.4 per unit), while the average price for exports to China ($0.4 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 the United States (+91.9%), while the prices for the other major destinations experienced mixed trend patterns.
Imports of Inner Tubes, of Rubber in the Philippines
Inner tubes, of rubber imports into the Philippines plummeted to 9.5M units in 2022, declining by -29.8% on 2021. Overall, imports showed a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 18%. As a result, imports attained the peak of 13M units, and then shrank dramatically in the following year.
In value terms, inner tubes, of rubber imports dropped remarkably to $7M in 2022. In general, imports showed a deep reduction. The smallest decline of -5.8% was in 2020. Imports peaked at $11M in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Inner Tubes, of Rubber in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 4.2 | 4.0 | 5.0 | 3.4 | -6.8% |
| Japan | 3.0 | 3.1 | 0.1 | 1.4 | -22.4% |
| South Korea | 0.9 | 0.9 | 1.1 | 0.7 | -8.0% |
| India | 0.6 | 0.6 | 0.7 | 0.4 | -12.6% |
| Thailand | 0.6 | 0.6 | 0.6 | 0.4 | -12.6% |
| Vietnam | 0.3 | 0.3 | 0.4 | 0.3 | 0.0% |
| Indonesia | 0.2 | 0.1 | 0.1 | 0.1 | -20.6% |
| Others | 0.8 | 0.4 | 0.5 | 0.4 | -20.6% |
| Total | 10.6 | 10.0 | 8.4 | 7.0 | -12.9% |
Top Suppliers of Inner Tubes, of Rubber to the Philippines in 2022:
- China (7.1M units)
- India (0.5M units)
- South Korea (0.5M units)
- Japan (0.4M units)
- Vietnam (0.4M units)
- Indonesia (0.3M units)
- Thailand (0.2M units)
Exports of Inner Tubes, of Rubber in the Philippines
In 2022, shipments abroad of inner tubes, of rubbers decreased by -5.4% to 118K units, falling for the second consecutive year after two years of growth. Overall, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 150%. As a result, the exports attained the peak of 172K units. From 2021 to 2022, the growth of the exports remained at a lower figure.
In value terms, inner tubes, of rubber exports stood at $110K in 2022. In general, total exports indicated a prominent expansion from 2019 to 2022: its value increased at an average annual rate of +19.6% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -6.3% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 83% against the previous year. As a result, the exports attained the peak of $117K. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
| Export of Inner Tubes, of Rubber in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United Arab Emirates | 20.4 | 31.6 | 33.5 | 61.0 | 44.1% |
| Turkey | 32.3 | 69.7 | 59.0 | 33.1 | 0.8% |
| China | 5.7 | 6.5 | 5.1 | 6.8 | 6.1% |
| South Korea | 2.5 | 6.4 | 2.0 | 5.3 | 28.5% |
| Others | 3.4 | 3.1 | 3.0 | 3.7 | 2.9% |
| Total | 64.2 | 117 | 103 | 110 | 19.7% |
Top Export Markets for Inner Tubes, of Rubber from the Philippines in 2022:
- Turkey (83.0K units)
- China (17.8K units)
- United Arab Emirates (13.9K units)
- South Korea (2.4K units)
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