Price for Tractors; (Other than Tractors of Heading No 8709) in the Philippines - 2023
Contents:
- Price for Tractors; (Other than Tractors of Heading No 8709) in the Philippines (CIF) - 2022
- Price for Tractors; (Other than Tractors of Heading No 8709) in the Philippines (FOB) - 2022
- Imports of Tractors; (Other than Tractors of Heading No 8709) in the Philippines
- Exports of Tractors; (Other than Tractors of Heading No 8709) in the Philippines
Price for Tractors; (Other than Tractors of Heading No 8709) in the Philippines (CIF) - 2022
In 2022, the average import price for tractors; (other than tractors of heading no 8709)s amounted to $3,647 per unit, reducing by -22% against the previous year. Overall, the import price, however, enjoyed a resilient increase. The growth pace was the most rapid in 2016 when the average import price increased by 62% against the previous year. Over the period under review, average import prices reached the maximum at $7,583 per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Thailand ($18,270 per unit), while the price for China ($1,811 per unit) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Tractors; (Other than Tractors of Heading No 8709) in the Philippines (FOB) - 2022
The average export price for tractors; (other than tractors of heading no 8709)s stood at $5,843 per unit in 2022, growing by 260% against the previous year. Over the period under review, the export price posted a strong expansion. The pace of growth was the most pronounced in 2014 when the average export price increased by 1,217%. The export price peaked in 2022 and is expected to retain growth in the immediate term.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Thailand ($26,036 per unit), while the average price for exports to Malaysia ($500 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 UK (+245.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Tractors; (Other than Tractors of Heading No 8709) in the Philippines
In 2022, imports of tractors; (other than tractors of heading no 8709)s into the Philippines reduced to 31K units, waning by -10.4% against the previous year's figure. In general, imports recorded a slight downturn. The pace of growth was the most pronounced in 2021 with an increase of 115% against the previous year. As a result, imports reached the peak of 35K units, and then declined in the following year.
In value terms, imports of tractors; (other than tractors of heading no 8709)s dropped significantly to $113M in 2022. Overall, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 32% against the previous year. Imports peaked at $195M in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.
| Import of Tractors; (Other than Tractors of Heading No 8709) in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 65.5 | 29.9 | 39.9 | 36.8 | -17.5% |
| Thailand | 48.8 | 39.3 | 50.7 | 28.9 | -16.0% |
| Japan | 51.6 | 18.6 | 36.7 | 23.1 | -23.5% |
| India | 6.1 | 18.2 | 24.0 | 10.5 | 19.8% |
| Others | 22.8 | 16.1 | 10.1 | 13.4 | -16.2% |
| Total | 195 | 122 | 161 | 113 | -16.6% |
Top Suppliers of Tractors; (Other than Tractors of Heading No 8709) to the Philippines in 2022:
- China (20.3K units)
- Japan (7.3K units)
- Thailand (1.6K units)
- India (0.8K units)
Exports of Tractors; (Other than Tractors of Heading No 8709) in the Philippines
In 2022, the amount of tractors; (other than tractors of heading no 8709)s exported from the Philippines skyrocketed to 240 units, with an increase of 4,700% compared with the previous year. Over the period under review, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of tractors; (other than tractors of heading no 8709)s skyrocketed to $1.4M in 2022. In general, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Tractors; (Other than Tractors of Heading No 8709) in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Thailand | N/A | N/A | N/A | 1,041 | 0% |
| Australia | N/A | N/A | N/A | 360 | 0% |
| Papua New Guinea | 54.9 | N/A | N/A | 0.5 | -79.1% |
| Qatar | 0.6 | N/A | N/A | N/A | 0% |
| Others | 80.4 | N/A | 8.1 | 0.5 | -81.6% |
| Total | 136 | N/A | 8.1 | 1,402 | 117.6% |
Top Export Markets for Tractors; (Other than Tractors of Heading No 8709) from the Philippines in 2022:
- Australia (198.0 units)
- Thailand (40.0 units)
- Papua New Guinea (1.0 units)
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