The Gross Value Added (GVA) in the Mining and Quarrying sector in the Philippines for 2023 stood at 148.55 billion Philippine Pesos. The forecasted data suggests a steady growth, with the GVA expected to reach 156.25 billion Philippine Pesos by 2028. This denotes a consistent year-on-year growth pattern in the sector: 1.06% between 2024 and 2025, 1.02% from 2025 to 2026, another 1.00% up to 2027, and finally a 0.96% growth into 2028.
Future trends to watch for:
- Global market conditions influencing commodity prices.
- Technological advancements driving operational efficiencies.
- Regulatory changes impacting sector dynamics.
- Environmental and social governance criteria becoming more stringent.
