In 2023, the agricultural raw materials imports in the Philippines stood at 0.69 of goods exports. The forecasted data shows a consistent annual decrease of 0.01 each year from 2024 to 2028. This results in a year-on-year percentage decrease of approximately 1.45% annually over the forecasted period. The Compound Annual Growth Rate (CAGR) from 2023 to 2028 is approximately -1.45%, indicating a steady decline over the five-year period.
Future trends to watch for:
- Potential impact of climate change on agricultural productivity and raw material needs.
- Changes in government policies or trade agreements affecting import quotas or tariffs.
- Technological advancements in agriculture reducing dependence on imported raw materials.
- Shifts in global supply chains and their impact on import costs and availability.
