Global uncertainty dents export outlook

Due to lingering global trade uncertainty, coupled with the Philippines' weaker competitiveness, the Marcos administration's economic team has cautioned that the country's goods exports could face significant pressure this year.

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“Philippine goods exports face significant risks in 2025 from rising global trade uncertainty and lagging competitiveness,” the Cabinet-level Development Budget Coordination Committee (DBCC) Midyear Report, published on Sept. 30, read.

In particular, the DBCC said tighter trade rules are prompting cautiousness among companies, slowing investments and expansion, especially in manufacturing.

"The semiconductor industry remains weighed down by inventory corrections, weak product mix, and high operational costs," it said.

To note, the Philippine manufacturing sector slipped back into contraction in September as its purchasing managers' index (PMI) fell to 49.9, the lowest in six months and only the third decline in more than four years. This was blamed on rainy weather, higher tariffs, and an import ban.