The import of parts for domestic non-electric thermic appliances to the Philippines stood at 11.5 million US dollars in 2023. Based on the forecasted data, a consistent year-on-year growth is observed from 2024 to 2028. The annual values are 11.978M (2024), 12.52M (2025), 13.051M (2026), 13.571M (2027), and 14.08M (2028), reflecting a steady increase.
Year-on-year percentage variations indicate a stable upward trend, with increases of approximately:
- 4.5% from 2024 to 2025
- 4.24% from 2025 to 2026
- 3.99% from 2026 to 2027
- 3.75% from 2027 to 2028
Over the last two years, we see the same pattern with trends resulting in an average compound annual growth rate (CAGR) of roughly 3.97% over the five-year period from 2023 to 2028.
Future trends to watch for include potential impacts from technological advancements, changes in trade policies, and shifts in consumer preferences towards more energy-efficient or innovative non-electric thermic appliances. Monitoring these factors could provide deeper insights into future market behavior.
