The import value of wool, animal hair, horsehair yarn, and fabric to the Philippines shows a declining trend from $5.1992 million in 2024 to $2.2716 million by 2028. In 2023, the import stood at $5.87 million. Between 2024 and 2025, the year-on-year decrease is approximately 14.5%, followed by a 16.7% reduction from 2025 to 2026. From 2026 to 2027, the imports further decrease by around 19.5%, and a drop of about 23.7% is projected from 2027 to 2028. The compounded annual growth rate (CAGR) for the forecast period from 2024 to 2028 is about -19.26%.
Future trends to watch for include potential shifts in global wool prices, changes in domestic production capacity, innovations in synthetic alternatives, and trade policy adjustments. Monitoring these factors will be crucial for anticipating further fluctuations in import levels.
