Golf Balls Price in the Philippines - 2023
Contents:
- Golf Balls Price in the Philippines (CIF) - 2022
- Golf Balls Price in the Philippines (FOB) - 2022
- Golf Balls Imports in the Philippines
- Golf Balls Exports in the Philippines
Golf Balls Price in the Philippines (CIF) - 2022
In 2022, the average golf balls import price amounted to $2.4 per unit, which is down by -80.9% against the previous year. In general, the import price, however, recorded a moderate increase. The most prominent rate of growth was recorded in 2018 an increase of 738% against the previous year. The import price peaked at $37 per unit in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Indonesia ($17 per unit) and South Korea ($17 per unit), while the price for Malaysia ($17 per unit) and Singapore ($17 per unit) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+15.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Golf Balls Price in the Philippines (FOB) - 2022
In 2022, the average golf balls export price amounted to $26 per unit, with an increase of 21% against the previous year. Overall, the export price continues to indicate buoyant growth. The growth pace was the most rapid in 2018 an increase of 132% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to continue growth in years to come.
As there is only one major export destination, the average price level is determined by prices for Marshall Islands.
From 2012 to 2022, the rate of growth in terms of prices for Singapore amounted to +7.2% per year.
Golf Balls Imports in the Philippines
In 2022, approx. 262K units of golf ballses were imported into the Philippines; rising by 379% against 2021. Overall, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, golf balls imports shrank to $617K in 2022. In general, imports, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2021 when imports increased by 38%. Imports peaked at $683K in 2019; however, from 2020 to 2022, imports failed to regain momentum.
| Import of Golf Balls in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 145 | 68.3 | 98.8 | 109 | -9.1% |
| United States | 43.1 | 59.8 | 63.8 | 95.6 | 30.4% |
| Taiwan (Chinese) | 37.0 | 35.8 | 49.6 | 95.2 | 37.0% |
| Thailand | 101 | 23.3 | 182 | 92.4 | -2.9% |
| Japan | 85.4 | 140 | 73.5 | 89.4 | 1.5% |
| Indonesia | N/A | 11.5 | 38.3 | 43.6 | 94.7% |
| Malaysia | 195 | 76.6 | 86.2 | 40.9 | -40.6% |
| South Korea | 40.7 | 38.0 | 53.0 | 39.4 | -1.1% |
| Others | 35.5 | 36.4 | 29.3 | 12.2 | -30.0% |
| Total | 683 | 490 | 675 | 617 | -3.3% |
Top Suppliers of Golf Balls to the Philippines in 2022:
- China (6.6K units)
- Taiwan (Chinese) (5.8K units)
- United States (5.8K units)
- Thailand (5.6K units)
- Japan (5.4K units)
- Indonesia (2.6K units)
- Malaysia (2.5K units)
- South Korea (2.4K units)
Golf Balls Exports in the Philippines
In 2022, exports of golf ballses from the Philippines reduced notably to 177 units, with a decrease of -18.1% compared with the previous year's figure. In general, exports showed a sharp downturn. Over the period under review, the exports reached the peak figure at 626 units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, golf balls exports fell modestly to $4.6K in 2022. The total export value increased at an average annual rate of +7.7% from 2019 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 13%. Over the period under review, the exports reached the maximum at $4.7K in 2021, and then dropped modestly in the following year.
| Export of Golf Balls in the Philippines (USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Marshall Islands | N/A | N/A | N/A | 314 | 0% |
| South Korea | N/A | 46.0 | 5.0 | N/A | -89.1% |
| Thailand | 327 | 298 | 94.0 | N/A | -46.4% |
| Costa Rica | 186 | N/A | N/A | N/A | 0% |
| Azerbaijan | N/A | N/A | 246 | N/A | 0% |
| Singapore | 1,328 | N/A | N/A | N/A | 0% |
| Australia | 929 | N/A | N/A | N/A | 0% |
| Others | 940 | 3,851 | 4,335 | 4,318 | 66.2% |
| Total | 3,710 | 4,195 | 4,680 | 4,632 | 7.7% |
Top Export Markets for Golf Balls from the Philippines in 2022:
- Marshall Islands (17.0 units)
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