Tobacco Market Overview in the Philippines
In value terms, tobacco production soared to $ in 2019 estimated in export prices. Overall, production showed a mild slump. The pace of growth appeared the most rapid in 2011 with an increase of % against the previous year. Over the period under review, production hit record highs at $ in 2014; however, from 2015 to 2019, production stood at a somewhat lower figure.
The revenue of the tobacco market in the Philippines surged to $ in 2019, with an increase of % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption continues to indicate a mild setback. Tobacco consumption peaked at $ in 2007; however, from 2008 to 2019, consumption stood at a somewhat lower figure.