In 2023, the base metals import value in the Philippines was 437.86 billion Philippine Pesos. Based on the forecasts, the import values are projected to increase steadily from 456.59 billion pesos in 2024 to 532.69 billion pesos by 2028. Year-on-year variations show consistent growth: 4.32% in 2024, 4.29% in 2025, 4.02% in 2026, and 3.72% in 2027. The compound annual growth rate (CAGR) over the five years from 2024 to 2028 is anticipated to be around 3.93%. This indicates sustained growth in base metal import activities in the Philippines.
Future trends to watch for include potential impacts of global trade policies on import tariffs, fluctuations in global metal prices, and domestic industrial demand for base metals. Tracking advancements in alternative materials and shifts in manufacturing processes will also be crucial, as they could influence the volume and value of base metals imports.
