The Philippine base metals import is forecasted to grow steadily from 2024 to 2028, reaching a value of 6.7 in 2028 (in constant 2018 terms). Starting from a value of 6.3 in 2024, the year-on-year growth rate is approximately 1.6% each year. Compared to 2023, there's a consistent upward trend across the forecast period. The last five years exhibit a Compound Annual Growth Rate (CAGR) of 1.6%, indicative of gradual and stable growth.
Future trends to watch for include:
- Impact of global economic conditions and commodity prices on metal imports
- Domestic infrastructure projects that may boost demand for base metals
- Government policies and trade agreements influencing import tariffs and regulations
- Advances in technology and recycling efforts that could affect the demand and supply dynamics of base metals
