In 2023, the import of fabricated asbestos fibres to the Philippines stood at approximately 1.04 million US dollars. Based on the forecasted data from 2024 to 2028, the value is expected to gradually decline year-on-year. Specifically, the value decreases from 1.0247 million USD in 2024 to 0.96767 million USD by 2028.
Key trends observed:
- The year-on-year variation from 2024 to 2025 is a decline of around 1.44%.
- From 2025 to 2026, the decline is approximately 1.43%.
- Between 2026 and 2027, the reduction is around 1.42%.
- From 2027 to 2028, the drop is around 1.41%.
- The compound annual growth rate (CAGR) over the last five years is approximately -1.43%, indicating an average annual decrease in import value.
Future trends to watch for include regulatory changes related to environmental and health concerns over asbestos, shifts in construction activities, and the potential emergence of alternative materials that might further influence the declining import trends of fabricated asbestos fibres.
