According to the latest trade data updated by the General Administration of Customs of the People's Republic of China, 2FIRSTS has compiled the e-cigarette export figures to the Philippines for September 2023 as follows:
Exports were approximately $17.86 million, decreasing by 0.13% compared to the previous period, while witnessing a significant year-on-year growth of 100.88%.
Exports reached approximately 409 tons, with a month-on-month increase of 3.09% and a year-on-year increase of 209.08%.
The export unit price is $43.65 per kilogram, down 3.13% compared to the previous month and down 35.01% compared to the same period last year. The average price for "e-cigarettes and similar personal electronic vaporizers" is $5.22 per unit.
Among them, 'e-cigarettes and similar personal electronic vaporizing devices' account for 11.83% of the export category, while 'non-combustible products without tobacco or reconstituted tobacco containing nicotine for inhalation' account for 88.17%.
According to data from Statista, the revenue of the e-cigarette market in the Philippines is projected to reach $240 million in 2023. The market is expected to grow at a compound annual growth rate of 2.53% from 2023 to 2028. When calculated on a per capita basis, the average e-cigarette consumption in the Philippines is estimated to be $2.57 in 2023. The popularity of e-cigarettes in the country has been increasing over the years, with a growing number of consumers opting for this alternative.
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