In 2023, the Land Transport Gross Value Added (GVA) in the Philippines stood at a benchmark level. The forecasted GVA growth rates from 2024 to 2028 show a gradual decline each year: 8.32% in 2024, 8.26% in 2025, 8.2% in 2026, 8.14% in 2027, and 8.08% in 2028. Year-on-year, this indicates a slight but consistent reduction in growth. Over a five-year period, the Compound Annual Growth Rate (CAGR) reflects an average year-on-year decrease.
Future trends to watch for include:
- Increased investment in transport infrastructure which could boost GVA growth.
- Technological advancements and digitalization within the logistics and transport sectors.
- Potential regulatory changes or government policies fostering transport sector development.
- Economic conditions and external factors impacting overall transportation demand.