Raw bovine and equine hides and skins market in the Philippines

Earlier Report Observations

The market for raw bovine and equine hides and skins in the Philippines showed initial stability, with volume around 21 300 tons in 2018 and 2019, before contracting to 18 670 tons in 2020 due to a sharp drop in domestic production. A gradual recovery followed, with market volume reaching 20 393 tons by 2023, supported by a significant rise in imports which compensated for relatively flat production.

The import surge, which saw volumes jump from 440 tons in 2022 to 1 018 tons in 2023, was driven by the Philippines' position as a leading importer of further prepared leather. This indicated strong downstream processing activity, which increased demand for raw hides. Concurrently, heightened biosecurity and surveillance measures for livestock due to Q fever risk in regions like Western Visayas may have constrained local supply, further necessitating imports to meet market needs.

In 2024, livestock production in the country increased by 2.74%, a development that typically supports the supply of raw hides. The broader Asia-Pacific region also experienced growing consumption, which contributed to sustained market activity for raw hides and skins.

Production raw bovine and equine hides and skins in the Philippines

In kind, 2017-2020, t

Top producers of raw bovine and equine hides and skins, 2017-2020

World map of production of raw bovine and equine hides and skins, 2017-2020

The Philippines experienced a third consecutive year of decline in raw bovine and equine hides and skins production. In 2020, production reached 18,560 tonnes, marking a significant 13.0% decrease from the previous year. From 2017 to 2020, overall production fell by 26.6%, which translates to an average annual decline of 9.8%.

Annual dynamics of production in the Philippines in kind, 2017-2020, t

Exports raw bovine and equine hides and skins from the Philippines

Exports in kind, t

The Philippines saw a third straight year of decline in raw bovine and equine hides and skins export volume. In 2020, exports totaled just 0.1 tonnes, a sharp 97.1% drop compared to 2019. Over the period from 2017 to 2020, exports decreased by 100%, with a compound annual growth rate (CAGR) of -94.2%.

Annual dynamics of product's exports from the Philippines in kind, 2017-2020, t

From 2017 to 2020, Thailand was the primary destination for raw bovine and equine hides and skins exports from the Philippines, accounting for 84.5% of total export volume. Other destinations played a much smaller role during this period.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from the Philippines in kind, 2017-2020

Exports in value, K $ US

The Philippines recorded a third consecutive year of decline in the value of raw bovine and equine hides and skins exports. In 2020, export value stood at 2.5 thousand US dollars, down 88.8% from the previous year. Between 2017 and 2020, export value decreased by 99.6%, equivalent to an average annual decline of 83.8%.

Annual dynamics of product's exports from the Philippines in value, 2017-2020, K $ US

From 2017 to 2020, Thailand was the main buyer of raw bovine and equine hides and skins from the Philippines in value terms, representing 81.1% of total export value. The remaining share was distributed among a diverse group of other countries.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from the Philippines in value, 2017-2020

Imports raw bovine and equine hides and skins to the Philippines

Imports in kind, t

The import market for raw bovine and equine hides and skins in the Philippines showed significant volatility during these years. Import levels fluctuated dramatically, with a 128-fold difference between the low of 2.0 tonnes in 2018 and the high of 256.4 tonnes in 2019. In 2020, imports amounted to 110.1 tonnes, a 57.1% decrease from 2019. The largest decline occurred in 2018, falling by 92.4%, while the largest increase was in 2019, surging by 12,734.5%.

Annual dynamics of product's imports to the Philippines in kind, 2017-2020, t

From 2017 to 2020, the main sources of raw bovine and equine hides and skins imports to the Philippines were Australia (21.9% of import volume), the United States (20.7%), and the Dominican Republic (18.6%). Together, these three countries accounted for 61.2% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to the Philippines in kind, 2017-2020

Imports in value, K $ US

The import market in value terms exhibited volatility over the observed period. Import levels varied by 5.7 times between the low of 79.6 thousand US dollars in 2018 and the high in 2020. In 2020, imports totaled [value_last_year] thousand US dollars, representing a sharp 117.0% increase from the previous year. The largest decline was recorded in 2018 at 61.6%, while the largest increase occurred in 2019 at 161.5%.

Annual dynamics of product's imports to the Philippines in value, 2017-2020, K $ US

Throughout 2017 to 2020, South Korea (32.9% of import value), the United States (10.9%), and Brazil (10.5%) were the key partners for raw bovine and equine hides and skins imports to the Philippines in value terms. Collectively, they accounted for 54.4% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to the Philippines in value, 2017-2020