In 2023, the import value of linear acting hydraulic power engines and motors to the Philippines stood at 7.175 million USD. Based on forecasted data, there is a steady year-on-year increase from 2024 to 2028. The projected values are 7.5446 million USD in 2024, 7.921 million USD in 2025, 8.2898 million USD in 2026, 8.6513 million USD in 2027, and 9.0055 million USD in 2028.
The year-on-year percentage variations are as follows:
- 2024: 5.1% increase
- 2025: 5.0% increase
- 2026: 4.7% increase
- 2027: 4.4% increase
- 2028: 4.1% increase
Over the last five years, the compound annual growth rate (CAGR) is approximately 4.66%. This consistent growth indicates a positive trend in imports.
Future trends to watch for include potential changes in global supply chain dynamics, technological advancements in hydraulic systems, and the economic policies impacting trade in the Philippines. Additionally, shifts in industrial demand and infrastructure development projects could significantly influence import patterns.
