The share of transport services imports in the Philippines is forecasted to decline gradually from 2024 to 2028, starting at 25.56% in 2024 and decreasing to 24.02% by 2028. This trend indicates a consistent year-on-year decrease of approximately 1.5%. Notably, the value stood at 25.97% in 2023, showing a decline of 1.58% from 2023 to 2024. Analyzing the last two years, the average annual variation, or CAGR from 2023 to 2028, indicates a reduction trend of 1.6% per year on average.
Future trends to watch for:
-Potential shifts in global transport logistics could impact import share.
-Changes in domestic infrastructure and transport policies may alter import reliance.
-Economic fluctuations and trade policies can also influence the demand for foreign transport services.
