In 2023, the Philippines imported doors, windows, and frames of iron or steel valued at $33 million. From 2024 to 2028, the forecasted values are as follows:
- 2024: $34.706 million
- 2025: $36.234 million
- 2026: $37.731 million
- 2027: $39.198 million
- 2028: $40.636 million
The year-on-year variation in percentage indicates:
- 2024: 5.17% increase
- 2025: 4.40% increase
- 2026: 4.13% increase
- 2027: 3.89% increase
- 2028: 3.66% increase
The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is approximately 4.25%, highlighting a steady and moderate growth in the import market for these products.
Future Trends to Watch:
- Growing construction sector due to urbanization may drive higher demand.
- Changes in governmental trade policies or tariffs could impact import levels.
- Rising steel prices globally could affect import costs and volume.
