In 2023, the import of buses to the Philippines stood at an actual value of 730.27 million US Dollars. The forecasted data show a consistent growth in imports from 2024 to 2028, with values increasing from 755.18 million US Dollars in 2024 to 850.45 million US Dollars in 2028.
Year-on-year variation percentages are as follows:
- 2024: 3.41%
- 2025: 3.25%
- 2026: 3.08%
- 2027: 2.94%
- 2028: 2.79%
The Compound Annual Growth Rate (CAGR) over the next five years (2024 to 2028) averages at 3.09% per year.
Future trends to watch for include technological advancements in bus manufacturing, government policies on public transportation, and economic conditions affecting both supply chains and demand for public transport infrastructure enhancements in the Philippines.
