Key Market Indicators
Filipina nickel imports are projected to hit $94 million by 2028, up from $72 million in 2023, according to recent forecasts. This marks an annual compound growth rate (CAGR) of 4%. Since 2001, the country's demand for nickel has risen by an average of 3% each year. On the export front, Filipina nickel exports are expected to reach $672 million by 2028, climbing from $537 million in 2023 with a CAGR of 3.5%. The country has seen its nickel supply grow at an annual rate of 6.9% since 2001. In 2023, the Philippines ranked 15th in global nickel exports, with Austria surpassing it at $537 million. Canada, Russia, and Malaysia occupied the second, third, and fourth spots, respectively, in this ranking.
