As Asian countries, China and the Filipina have good economic and trade exchanges. From January to June 2021, the trade volume between China and the Philippines will be US$37.53 billion, a year-on-year increase of 53.5%. Among them, China’s exports to the Philippines were US$26.54 billion, a year-on-year increase of 62.3%; its imports from the Philippines were US$10.99 billion, a year-on-year increase of 35.8%. From January to June 2021, the contract value of new projects signed by Chinese companies in the Philippines was US$4.15 billion, a year-on-year increase of 13.4%; the completed turnover was US$1.35 billion, a year-on-year increase of 13.6%.
As a Chinese crane supplier that provides crane services to the world, it pays high attention to the economic development of the Philippines. With the development of infrastructure construction and the construction of various factories in the Philippines in the past ten years, the Philippines has a large number of various types of machinery and equipment. demand. In the past 2021, Dongqi Crane completed more than 110 crane project cooperation in the Philippines. For how the Philippine crane market will develop in 2022, this article will make some predictions and guesses through the import and export data of overhead cranes
Before we start discussing the aerial crane market in Philippine, we have a few small questions that need to be answered first. Let’s take a look
The Philippine Overhead Crane Market is worth X USD in 2020, growing X% over the previous year. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs and retailer profits, which will be included in the final consumer price). Overall, consumption has grown significantly. The most significant growth rate was recorded in 2017, with a year-on-year increase of X%. As a result, consumption reaches a peak level of X dollars. From 2018 to 2020, the market growth rate remained at a low level.
In 2020, approximately X fixed support overhead cranes were exported from the Philippines; an increase of X% compared to 2019. Overall, exports have grown significantly. The most significant growth rate occurred in 2018, when exports increased by X% year-on-year. Exports peaked in 2020 and are expected to keep growing for years to come. In value terms, 2020 overhead crane exports dropped significantly to $X. During the period under review, exports declined significantly. The growth rate was most pronounced in 2010, with a year-on-year increase of X%. During the period under review, exports hit an all-time high of $X in 2007; however, from 2008 to 2020, exports have been at lower levels.
Thailand (X units) was the main destination for Philippine bridge crane exports, accounting for about X% of total exports. From 2007 to 2020, the average annual growth rate of cargo traffic to Thailand has been relatively modest. From 2007 to 2020, the average annual growth rate of value to Thailand was relatively modest.
In 2020, the number of fixed-support overhead cranes imported into the Philippines jumped to X units, an increase of X% over the 2019 figure. Overall, imports continued to expand significantly. In 2011, the growth rate was the fastest, with an increase of X% year-on-year. During the period under review, imports peaked in 2020 and may gradually increase in the short term.
In value terms, 2020 Overhead Crane Imports Dropped Rapidly to $X. Overall, import growth was strong. 2017 appears to have seen the fastest growth, with an X% increase over the previous year. As a result, imports peaked at X dollars. From 2018 to 2020, import growth remained low.
In 2020, China (X units) was the main supplier of overhead cranes in the Philippines, accounting for X% of total imports. In addition, overhead cranes imported from China were more than ten times higher than the number recorded by the second largest supplier, Taiwan (China) (X units). From 2007 to 2020, the average annual growth rate of Chinese exports was +X%.
By value, China (USD X) is the largest supplier of overhead cranes to the Philippines, accounting for X% of total imports. In second place is Taiwan (China) ($X) with X% of total imports. From 2007 to 2020, the average annual growth rate of value from China totaled +X%.
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