The import of handmade paintings, drawings, pastels, and collages to the Philippines has shown a promising upward trend. The value stood at 3.7 million USD in 2023, and the forecast data depicts a continuous increase: 3.8259 million USD in 2024, 4.0115 million USD in 2025, 4.1935 million USD in 2026, 4.3718 million USD in 2027, and 4.5466 million USD in 2028.
The year-on-year variation is as follows:
- From 2023 to 2024: 3.4%
- From 2024 to 2025: 4.9%
- From 2025 to 2026: 4.5%
- From 2026 to 2027: 4.2%
- From 2027 to 2028: 3.9%
Over the last five years, the compound annual growth rate (CAGR) averaged around 4.2%, indicating a steady increase in the demand and import value of these art pieces.
Future trends to watch for include shifts in global art market dynamics, changes in consumer preferences for handmade artworks, and the potential influence of digital art on traditional art forms.