Philippines: Relay Market 2024

Relay Market Size in the Philippines

The Philippine relay market reached $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Relay Production in the Philippines

In value terms, relay production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Relay Exports

Exports from the Philippines

In 2022, overseas shipments of relays decreased by X% to X units, falling for the fourth consecutive year after three years of growth. Over the period under review, exports, however, recorded a strong expansion. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, relay exports reduced modestly to $X in 2022. Overall, total exports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X units), the United States (X units) and China (X units) were the main destinations of relay exports from the Philippines, together comprising X% of total exports. South Korea, Japan, India, Malaysia, Hong Kong SAR and the Netherlands lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Malaysia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and China ($X) appeared to be the largest markets for relay exported from the Philippines worldwide, together accounting for X% of total exports. South Korea, Malaysia, Japan, India, Hong Kong SAR and the Netherlands lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Malaysia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average relay export price stood at $X per unit in 2022, shrinking by X% against the previous year. In general, the export price continues to indicate a abrupt slump. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to South Korea ($X 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 Netherlands (X%), while the prices for the other major destinations experienced a decline.

Relay Imports

Imports into the Philippines

In 2022, supplies from abroad of relays increased by X% to X units, rising for the second year in a row after two years of decline. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, relay imports expanded sharply to $X in 2022. Overall, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X units), Japan (X units) and the United States (X units) were the main suppliers of relay imports to the Philippines, together comprising X% of total imports. Hong Kong SAR, Singapore, South Korea, Mexico, Belgium, Portugal and Taiwan (Chinese) lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest relay suppliers to the Philippines were China ($X), Japan ($X) and the United States ($X), with a combined X% share of total imports. Singapore, South Korea, Hong Kong SAR, Mexico, Belgium, Portugal and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Mexico, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average relay import price stood at $X per unit in 2022, shrinking by X% against the previous year. In general, the import price, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2019 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2020; however, from 2021 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 Taiwan (Chinese) ($X per unit), while the price for Portugal ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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