The projected import value of plastics and articles thereof to the Philippines is set to increase steadily from 2024 to 2028, starting at $4.6822 billion in 2024 and reaching $5.3538 billion by 2028. Actual data from 2023 indicate the import value was at $4.515 billion. Year-on-year variations show a consistent growth trend: 3.7% in 2024, 3.7% in 2025, 3.5% in 2026, 3.3% in 2027, and 3.1% in 2028. The compound annual growth rate (CAGR) over the last five years stands at approximately 3.5%.
Future trends to watch for include potential changes in import tariffs, evolving environmental regulations, and shifts in global supply chains that could impact the cost and availability of plastic materials. Additionally, advancements in plastic recycling technology and increased demand for sustainable materials could influence import strategies.
