Analyzing the forecast for crops gross production in the Philippines based on the provided data, we see a steady increase from 2024 to 2028. The values are 24.798 billion US dollars PPP in 2024, rising to 25.685 billion US dollars PPP by 2028. This demonstrates a consistent upward trend.
The year-on-year variation shows a modest but steady growth rate:
- From 2024 to 2025: Approximately 0.91% increase
- From 2025 to 2026: Approximately 0.89% increase
- From 2026 to 2027: Approximately 0.87% increase
- From 2027 to 2028: Approximately 0.86% increase
Meanwhile, the compound annual growth rate (CAGR) over the five years from 2024 to 2028 is approximately 0.88%, indicating a stable upward trend in production values.
In 2023, the crop gross production stood at an actual value of 24.570 billion US dollars PPP, forming the baseline for the forecasted growth.
Future trends to monitor include potential changes in agricultural policies, technological advancements in agriculture, climate change impacts, and market demand fluctuations—each of which could significantly influence the trajectory of crop production in the Philippines.