Phl to miss exports goal this year

The country's exports are expected to fall short of the target set under the Philippine Export Development Plan (PEDP) for this year, while revised export goals for 2025 to 2028 are likely to be released next year, according to the Department of Trade and Industry (DTI).

- By Louella Desiderio

"We'll definitely miss it, the PEDP [2024 target]," DTI Export Marketing Bureau director Bianca Sykimte told reporters, citing the weakness in merchandise exports.

Under the PEDP, the goal is for the country's total exports covering goods and services to reach $143.4 billion this year. While the country is likely to miss this year's PEDP target, Sykimte said the government believes the exports performance is still on track with the exports goal of $107 billion under the Philippine Development Plan (PDP).

She attributed the weakness in the country's merchandise exports to the performance of the electronics sector.

"A big chunk of what we export are electronics. So, whatever movement in that sector really defines the movement of the overall merchandise exports," she said.