The woven carpets and floor coverings import market in the Philippines exhibited a steady growth trend from 2023 to 2028.
- From 2023 to 2024, the import value increased by a certain percentage (calculate Y-o-Y % increase for 2024).
- For 2024 to 2025, the import value grew from 8.3259 to 8.6516 million USD, representing a Y-o-Y growth of 3.91%.
- During 2025 to 2026, the value rose from 8.6516 to 8.9709 million USD, showing a Y-o-Y increase of 3.69%.
- Between 2026 and 2027, the import value went from 8.9709 to 9.2837 million USD, marking a Y-o-Y growth of 3.49%.
- Finally, from 2027 to 2028, the value increased from 9.2837 to 9.5903 million USD, showing a Y-o-Y growth of 3.30%.
The compounded annual growth rate (CAGR) over this five-year period stands at approximately 3.59%.
Future trends to watch for include potential shifts in consumer preferences, economic fluctuations affecting import capacity, and the impact of trade policies on import tariffs and regulations. The steady Y-o-Y growth suggests a robust demand trajectory, though industry stakeholders should also remain vigilant of potential market disruptions or new technological advancements within the flooring sector.
