Key Market Indicators
The Philippines is projected to see its energy consumption climb to approximately 2.4 exajoules by 2028, up from around 2.2 exajoules in 2023. This growth represents a steady annual increase of nearly 2%, according to recent data. Historically, the country has maintained a consistent year-on-year growth rate of 1.9% in energy demand since 1970. In the global ranking for 2023, the Philippines occupied the 39th position, with Colombia just ahead at roughly 2.2 exajoules. The top three spots in the ranking were held by the United States, India, and Russia, respectively.
