The export of domestic appliances incorporating electric motors from the Philippines stood at 3.4 million US dollars in 2023. The forecasted data indicates a steady increase, with the value expected to reach 3.486 million US dollars in 2024 and climbing to 3.8218 million US dollars by 2028. From 2023 to 2024, the expected year-on-year growth rate is approximately 2.5%. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is projected to be around 2.4%, indicating a consistent upward trend.
Looking forward, it will be important to closely monitor factors such as technological advancements, global supply chain dynamics, and international trade policies, which may impact export volumes and values. Additionally, the emergence of new markets and increasing demand for energy-efficient appliances could further drive growth in this sector.
