PH cuts export targets through '28

The public-private Export Development Council (EDC) has revised downward the country’s export targets for the year until the end of the Marcos administration in response to recent challenges in global trade.

- BY DEXTER BARRO II

Bianca Sykimte, director of the Department of Trade and Industry (DTI) - Export Marketing Bureau, said the EDC is setting a lower benchmark for the export goals under the Philippine Export Development Plan (PEDP) as part of its midterm review.

Under the revised PEDP targets, the country's exports of goods and services are now anticipated to reach $110.8 billion, well below the initial target of $163.6 billion.

The new target for next year is $116.1 billion, $123.3 billion in 2027, and $132.8 billion in 2028.

In contrast, the original PEDP set a more ambitious benchmark of $186.7 billion in 2026, $212.1 billion in 2027, and $240.5 billion in 2028.

Sykimte said this recalibration aligns the PEDP with the export goals embodied under the government's Philippine Development Plan (PDP).

Under the PDP, the target for the country’s exports is to reach $113.42 billion this year, $120.22 billion in 2026, $127.44 billion in 2027, and $135.08 billion in 2028.

"Given the recent performance of our key export sectors and the persistent weakness of global demand, we have to adjust our export targets to align with the PDP," said Sykimte.