In 2023, the import value of plastic monofilament to the Philippines stood at 12.823 million USD. The forecasted data from 2024 to 2028 shows a steady increase in imports: 13.337 million USD in 2024, 13.876 million USD in 2025, 14.405 million USD in 2026, 14.924 million USD in 2027, and 15.432 million USD in 2028.
The year-on-year variations in percentage are as follows:
- 2024: 4.00%
- 2025: 4.04%
- 2026: 3.82%
- 2027: 3.60%
- 2028: 3.40%
The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is projected to be 3.77%.
Future trends to watch for include the impact of technological advancements in plastic production, potential shifts towards biodegradable alternatives, and any policy changes regarding import tariffs or environmental regulations that may affect the demand for plastic monofilament imports to the Philippines.
