Key Market Indicators
Filipina Truck Imports are projected to surge to nearly $2.8 billion by 2028, up from approximately $2.2 billion in 2023. This represents an average annual growth rate of 3.6%. Since 2001, the demand for trucks in the Philippines has increased by an average of 4.9% each year. On the export front, the Philippines is expected to reach $4.5 million by 2028, growing from $4 million in 2023. This marks an average annual growth rate of 1.9%. Since 2001, the country's truck exports have risen by a notable 13.8% annually. In the global ranking for truck exports, the Philippines stood at number 64 in 2023, just behind Bolivia, which also recorded $4 million in exports. Leading the rankings were the United States, Germany, and France, occupying the second, third, and fourth spots, respectively.