Price for Slide Fasteners and Parts Thereof in the Philippines - 2023

Price for Slide Fasteners and Parts Thereof in the Philippines (CIF) - 2022

The average import price for slide fasteners and parts thereoves stood at less than $0.1 per unit in 2022, shrinking by -33% against the previous year. In general, the import price saw a pronounced shrinkage. The most prominent rate of growth was recorded in 2015 when the average import price increased by 50%. Over the period under review, average import prices reached the peak figure at $0.1 per unit in 2016; however, from 2017 to 2022, import prices stood 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 Hong Kong SAR ($0.2 per unit), while the price for Vietnam (less than $0.1 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Slide Fasteners and Parts Thereof in the Philippines (FOB) - 2022

The average export price for slide fasteners and parts thereoves stood at $0.2 per unit in 2022, declining by -35.6% against the previous year. In general, the export price, however, recorded pronounced growth. The growth pace was the most rapid in 2016 when the average export price increased by 87% against the previous year. Over the period under review, the average export prices attained the maximum at $0.3 per unit in 2020; however, from 2021 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 Vietnam ($0.2 per unit), while the average price for exports to Germany ($0.1 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 Vietnam (+6.5%), while the prices for the other major destinations experienced a decline.

Imports of Slide Fasteners and Parts Thereof in the Philippines

For the fourth year in a row, the Philippines recorded growth in overseas purchases of slide fasteners and parts thereoves, which increased by 54% to 1.2B units in 2022. Over the period under review, imports enjoyed a significant increase. The pace of growth was the most pronounced in 2021 with an increase of 84% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, slide fasteners and parts thereof imports expanded to $58M in 2022. Overall, imports recorded a resilient expansion. The pace of growth was the most pronounced in 2021 with an increase of 79%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Import of Slide Fasteners and Parts Thereof in the Philippines (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	8.4	12.1	23.2	27.5	48.5%
Vietnam	2.0	4.4	10.9	12.0	81.7%
Hong Kong SAR	16.3	5.0	10.5	7.0	-24.6%
Taiwan (Chinese)	3.0	5.5	6.9	4.7	16.1%
Indonesia	2.1	1.1	1.8	2.4	4.6%
Others	5.1	3.5	3.2	4.7	-2.7%
Total	36.9	31.6	56.5	58.3	16.5%

Top Suppliers of Slide Fasteners and Parts Thereof to the Philippines in 2022:

China (548.7M units)
Vietnam (475.7M units)
Taiwan (Chinese) (85.8M units)
Indonesia (58.6M units)
Hong Kong SAR (29.9M units)

Exports of Slide Fasteners and Parts Thereof in the Philippines

In 2022, the amount of slide fasteners and parts thereoves exported from the Philippines declined slightly to 2.6M units, almost unchanged from the previous year's figure. In general, total exports indicated a moderate increase from 2019 to 2022: its volume increased at an average annual rate of +3.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.3% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 62% against the previous year. As a result, the exports attained the peak of 2.7M units, and then contracted slightly in the following year.

In value terms, slide fasteners and parts thereof exports reduced notably to $465K in 2022. Over the period under review, exports saw a abrupt curtailment. The growth pace was the most rapid in 2021 when exports increased by 44% against the previous year. As a result, the exports reached the peak of $733K, and then shrank rapidly in the following year.

Export of Slide Fasteners and Parts Thereof in the Philippines (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
India	19.6	N/A	58.2	171	105.9%
Austria	N/A	N/A	N/A	80.3	0%
Vietnam	74.5	143	137	79.1	2.0%
Taiwan (Chinese)	0.1	N/A	79.3	66.3	772.0%
China	3.0	34.7	186	25.8	104.9%
Germany	N/A	N/A	N/A	13.9	0%
Japan	257	0.7	180	12.5	-63.5%
Cambodia	17.6	268	38.1	6.2	-29.4%
Hong Kong SAR	120	20.5	6.0	2.0	-74.5%
Myanmar	31.0	15.9	N/A	N/A	-48.7%
Others	51.2	24.3	47.7	8.1	-45.9%
Total	575	507	733	465	-6.8%