Philippines: Civil Reaction Engine Market 2024

Civil Reaction Engine Market Size in the Philippines

In 2022, the Philippine civil reaction engine market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, enjoyed a buoyant expansion. As a result, consumption reached the peak level of $X, and then declined significantly in the following year.

Civil Reaction Engine Production in the Philippines

In value terms, civil reaction engine production stood at less than $X in 2022 estimated in export price. In general, production, however, showed a sharp downturn. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Civil Reaction Engine Exports

Exports from the Philippines

Civil reaction engine exports from the Philippines soared to X units in 2022, with an increase of X% compared with 2021 figures. Over the period under review, exports, however, recorded a perceptible descent. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, civil reaction engine exports skyrocketed to $X in 2022. Overall, exports, however, showed a sharp downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for civil reaction engine exports from the Philippines, accounting for a X% share of total exports. Moreover, civil reaction engine exports to the United Arab Emirates exceeded the volume sent to the second major destination, the UK (X units), threefold. Finland (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Finland (X% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for civil reaction engines exports from the Philippines, comprising X% of total exports. The second position in the ranking was taken by the UK ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (X% per year) and Singapore (X% per year).

Export Prices by Country

The average civil reaction engine export price stood at $X per unit in 2022, shrinking by X% against the previous year. Overall, the export price showed a precipitous setback. The growth pace was the most rapid in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Finland ($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 Indonesia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Civil Reaction Engine Imports

Imports into the Philippines

In 2022, approx. X units of civil reaction engines were imported into the Philippines; falling by X% compared with the previous year's figure. Overall, imports showed a deep contraction. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of X units. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, civil reaction engine imports fell markedly to $X in 2022. In general, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at $X in 2021, and then fell dramatically in the following year.

Imports by Country

The United States (X units), India (X units) and Taiwan (Chinese) (X units) were the main suppliers of civil reaction engine imports to the Philippines, with a combined X% share of total imports. Moreover, civil reaction engine imports in the United States exceeded the figures recorded by the second-largest supplier, India, twofold.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of civil reaction engines to the Philippines, comprising X% of total imports. The second position in the ranking was taken by Singapore ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2013 to 2022, the average annual growth rate of value from the United States stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (X% per year) and Japan (X% per year).

Import Prices by Country

The average civil reaction engine import price stood at $X per unit in 2022, increasing by X% against the previous year. Overall, the import price recorded resilient growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 the United States ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Japan (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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