Forecast: Import of Works of Art, Collectors Pieces and Antiques to Philippines

The import of Works of Art, Collectors Pieces, and Antiques to the Philippines, which stood at 5.42 million USD in 2023, is forecasted to show a consistent upward trend over the next five years. Starting from 5.6874 million USD in 2024, the value is projected to rise progressively to reach 6.764 million USD by 2028. The year-on-year percentage change indicates a steady climb, signaling a growing demand or appreciation for such items in the Philippines.

Specifically, the expected year-on-year variations are as follows:

  • 2024-2025: 4.88%
  • 2025-2026: 4.56%
  • 2026-2027: 4.27%
  • 2027-2028: 4.01%
The calculated CAGR for the period 2024-2028 stands at approximately 4.42%, reflecting a healthy and sustained growth rate in the import of these cultural commodities.

Future trends to watch for include an increase in cultural events and exhibitions that could drive higher imports, the possible impact of economic policies on import regulations, and evolving consumer tastes towards high-value art and antiques. Monitoring these factors will be crucial for stakeholders aiming to capitalize on this growing market.