The primary energy supply in the Philippines stood at 54.2 Million Tonnes of Oil Equivalent in 2023. In 2024, a forecasted value of 53.7 indicates a slight decline of 0.9%. The trend continues with year-on-year reductions, showing a negative growth rate: 53.0 in 2025 (1.3%), 52.43 in 2026 (1.1%), 51.98 in 2027 (0.9%), and 51.62 in 2028 (0.7%). The Compound Annual Growth Rate (CAGR) from 2024 to 2028 shows an average annual decline of 0.97%.
Future trends to watch for:
- Impact of renewable energy policies and initiatives.
- Potential economic factors influencing energy demand.
- Technological advancements in energy efficiency.
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