Phl to Downgrade Export Targets Next Month

The Export Development Council (EDC) is looking to release next month its downgraded export targets for this year until the end of the Marcos administration amid domestic and external challenges.

- By Louella Desiderio

Department of Trade and Industry – Export Marketing Bureau director Bianca Pearl Sykimte said the council composed of the government and the private sector is hoping to release the revised targets under the Philippine Export Development Plan (PEDP) in April.

She said the EDC executive committee met two weeks ago to discuss adjustments, simulations and mitigating measures.

“We’re downgrading (the targets),” she said.

While the EDC is trimming the export goals under the PEDP, she said the revised targets are not going to be lower than those under the Philippine Development Plan (PDP). Under the PEDP, the goal is for the country’s exports of goods and services to reach $163.6 billion this year, $186.7 billion in 2026, $212.1 billion in 2027 and $240.5 billion in 2028.