The import value of rowing boats, canoes, and pleasure boats (excluding sailboats) to the Philippines in 2023 stood at 15.5 million USD. Forecast data indicates a steady year-on-year increase: 2024 is projected at 16.409 million USD, 2025 at 17.372 million USD, 2026 at 18.316 million USD, 2027 at 19.241 million USD, and 2028 at 20.148 million USD. This represents an average annual growth rate (CAGR) of 6.7% over the next five years, demonstrating a healthy upward trend in imports of these watercraft.

Future trends to watch for:

Increased popularity of recreational water activities driving higher demand.
Potential economic improvements boosting disposable income and spending on leisure activities.
Possible impact of environmental regulations promoting the use of eco-friendly materials in boat manufacturing.
Technological advancements in boat design and safety features fueling consumer interest.