In 2023, the Philippines imported approximately 8.15 million USD worth of virgin olive oil. Forecasted data shows a continual rise in future imports with an expected figure of 8.48 million USD in 2024 and reaching 9.80 million USD by 2028. This indicates a consistent year-on-year growth. The year-on-year percentage variation indicates a steady increase of around 4% each year. Specifically, from 2024 to 2025, the increase is estimated at 4%, and similar patterns are observed for subsequent years. The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 4.1% per year.
Future trends to watch for include potential impacts of changes in global trade policies, shifts in consumer preferences towards healthier eating habits, and any significant changes in domestic olive oil production capacities or substitutes that may affect import volumes.
