The forecast for the import of tankers to the Philippines shows a steady growth from 2024 to 2028, with values rising from $37.609 million in 2024 to $40.896 million in 2028. This analysis is based on forecasted data starting from 2024, with actual values for prior years assumed to be consistent with previous trends. The approximate year-on-year percentage increase is around 2.2% to 2.3%. The Compound Annual Growth Rate (CAGR) over these five years is roughly 2.2%, indicating moderate and consistent growth.
Future trends to watch for include:
- Global economic conditions affecting the shipbuilding industry and tanker demand.
- Technological advances in tanker efficiency and environmental regulations which may impact import volumes and costs.
- Geopolitical events that could affect trade routes and tanker availability.