In 2023, the Philippines' Gross Domestic Capital Formation in Agricultural Machinery stood at 1.1 (Constant = 2018). The forecasted data from 2024 to 2028 shows a gradual but steady increase. Starting at 1.2 in 2024 and 2025, it rises to 1.3 from 2026 to 2028. The year-on-year variation for 2024 and 2025 is 9.1%, with no change between these two years. For 2026, the variation is 8.3%, stabilizing at 0% afterwards. The compound annual growth rate (CAGR) over the 5-year period is 3.5%.
Future trends to watch for include technological advancements in agricultural machinery, potential governmental policies aimed at boosting the agricultural sector, and economic factors that may influence investment levels. Keeping an eye on these factors will provide deeper insights into the sector's evolving landscape.
