Price for Cycles; Parts Thereof, Saddles in the Philippines - 2023
Contents:
- Price for Cycles; Parts Thereof, Saddles in the Philippines (CIF) - 2022
- Imports of Cycles; Parts Thereof, Saddles in the Philippines
Price for Cycles; Parts Thereof, Saddles in the Philippines (CIF) - 2022
In 2022, the average cycles; parts thereof, saddles import price amounted to $1.1 per unit, with a decrease of -13% against the previous year. Overall, the import price, however, continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2019 when the average import price increased by 78% against the previous year. The import price peaked at $1.3 per unit in 2021, and then shrank in the following year.
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 Malaysia ($4.8 per unit), while the price for South Korea ($0.8 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+36.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Cycles; Parts Thereof, Saddles in the Philippines
In 2022, supplies from abroad of cycles; parts thereof, saddleses decreased by -46.4% to 739K units, falling for the second consecutive year after two years of growth. Over the period under review, imports faced a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 168% against the previous year. As a result, imports attained the peak of 3.1M units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, cycles; parts thereof, saddles imports fell remarkably to $834K in 2022. Overall, imports continue to indicate a perceptible downturn. The growth pace was the most rapid in 2020 when imports increased by 159% against the previous year. As a result, imports reached the peak of $2.5M. From 2021 to 2022, the growth of imports remained at a lower figure.
| Import of Cycles; Parts Thereof, Saddles in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 328 | 1,894 | 833 | 554 | 19.1% |
| Taiwan (Chinese) | 361 | 64.6 | 98.5 | 89.3 | -37.2% |
| Malaysia | 54.8 | 28.0 | 357 | 72.3 | 9.7% |
| Vietnam | 129 | 358 | 420 | 47.3 | -28.4% |
| South Korea | 0.2 | 16.2 | 8.3 | 14.3 | 315.1% |
| Others | 84.3 | 120 | 72.6 | 56.5 | -12.5% |
| Total | 958 | 2,480 | 1,789 | 834 | -4.5% |
Top Suppliers of Cycles; Parts Thereof, Saddles to the Philippines in 2022:
- China (611.3K units)
- Taiwan (Chinese) (72.2K units)
- South Korea (19.0K units)
- Malaysia (15.0K units)
- Vietnam (10.0K units)
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