In 2023, the import value of agricultural, horticultural, or forestry machinery in the Philippines was reported to be 24 million USD. The forecast data from 2024 to 2028 shows a consistent upward trend with yearly increases. The variation from 2024 to 2025 is approximately 4.5%. From 2025 to 2026, the increase is about 4.3%, followed by 4% from 2026 to 2027, and approximately 3.8% from 2027 to 2028. These percentages indicate a steady growth pattern.
The Compound Annual Growth Rate (CAGR) over the five-year period from 2024 to 2028 is about 4.2%, signifying a moderate but steady increase in the import value of this machinery category.
Future trends to watch for include technological advancements in machinery, government policy changes affecting import tariffs, investment in local agricultural sectors, and the overall economic growth of the Philippines, which could impact the demand and import levels of these machineries.
