The forecast for Philippine petroleum products export from 2024 to 2028 shows a gradual decline. In 2023, the exports stood at PHP 22.09 billion. With values forecasted to be PHP 21.71 billion in 2024 and decreasing each subsequent year, the year-on-year variation indicates slight negative growth. Specifically, from 2024 to 2025, the decline is approximately 1.75%, from 2025 to 2026 it is 1.78%, and from 2026 to 2027 it is roughly 1.72%. The average annual decline (CAGR) over these five years is around 1.73%.
Future trends to watch:
- Global oil price fluctuations and their impact on export revenues.
- Changes in international trade policies and agreements affecting the petroleum sector.
- Technological advancements in alternative energy sources potentially reducing demand for petroleum products.
- Government policies and regulations aimed at reducing carbon emissions and their impact on the petroleum industry.
- Economic growth in key import markets influencing demand for Philippine petroleum exports.
