- Philippines’ export sales surged to US$8.17 billion in March 2026, the highest monthly performance on record since the Philippine Statistics Authority started its international merchandise trade statistics series in 1991
- Export growth last March was also 20.4% higher than the $6.78 billion recorded in the same month last year
- The increase in exports was mainly driven by electronic products, with industry sources noting this continues to be supported by global demand for semiconductor components and devices used in emerging technologies such as AI, Internet of Things, and electric vehicles
- Non-electronic exports posted mixed results, reflecting shifts in global demand across industries
The Philippines’ export sales surged to US$8.17 billion in March 2026, the highest monthly performance on record since the Philippine Statistics Authority (PSA) started its international merchandise trade statistics series in 1991.
Export growth last March was also 20.4% higher than the $6.78 billion recorded in the same month last year, based on preliminary data from the PSA. This reflects sustained growth momentum in exports, supported by continued demand in key sectors, particularly electronics, the Department of Trade and Industry (DTI) said in a statement.
From January to March 2026, total exports reached $22.70 billion, up by 12.7% from $20.14 billion in the same period last year, marking the second highest quarter growth performance in more than four years since the second quarter of 2021.
DTI secretary Ma. Cristina Roque said that the government’s drive towards higher value products in key sectors, and targeted efforts to diversify markets, is propelling the export sector forward.
“March’s export performance demonstrates that the government’s drive towards higher value products in high-performing industries like electronics while expanding market opportunities with targeted and strategic trade and investment promotion initiatives are helping exporters adapt to evolving global conditions and translating to export gains,” Roque said.
The increase in exports was mainly driven by electronic products, which recorded $4.82 billion and remained the country’s top export, accounting for 59% of the total. This was followed by machinery and transport equipment at $407.22 million, and other mineral products at $401.81 million.
DTI said industry sources noted that the strong performance of electronics continues to be supported by global demand for semiconductor components and devices used in emerging technologies such as artificial intelligence (AI), Internet of Things (IoT), and electric vehicles. This highlights the Philippines’ role in global electronics value chains, particularly in assembly, testing, and packaging services, DTI noted.
Despite global trade uncertainties, including developments in the Middle East, the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. projects the industry to grow by around 5% in 2026 and exceed $50 billion in exports.
Non-electronic exports posted mixed results, reflecting shifts in global demand across industries. Growth was supported by machinery and transport equipment, as well as mineral-based products and gold, driven by continued industrial activity and demand for raw materials.
Some traditional export items such as other manufactured goods and coconut oil recorded declines, indicating softer demand in selected markets.
US still largest destination
The United States remained the Philippines’ largest export destination, with exports reaching $1.40 billion. Hong Kong followed at $1.30 billion, while exports to Japan reached $962.41 million. Shipments to these markets posted double digit growth rates including China, which retained its spot as 4th largest market posting $956.77 million in exports, while earnings from Taiwan recorded $393.14 million during the period.
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In the agro-based sector, DTI said industry stakeholders reported generally stable demand across key markets, although performance in some products may be affected by supply-side and logistics constraints.
Processed fruits, particularly tropical varieties, continue to see steady demand despite raw material challenges affecting specific products such as calamansi, while coconut-based products remain supported by food manufacturing demand and growing global interest in plant-based and dairy-free alternatives, despite supply-side factors influencing coconut oil exports. Some exporters also reported declines in shipments to the Middle East, particularly for bananas, due to maritime shipping disruptions linked to ongoing geopolitical tensions in the region.
DTI said it continues to closely monitor global developments that may affect trade and logistics, including the ongoing conflict in the Middle East. While exports have remained resilient, DTI said it is assessing and addressing potential risks that may impact specific sectors and markets.
DTI is also working with industry stakeholders to help exporters navigate possible disruptions through market diversification and pivoting to domestic and other export markets, supply chain adjustments, and the provision of timely market intelligence on viable alternative routes.
Moreover, DTI is also working closely with Small Business Corporation on the rollout of the P3 billion Export Business Expansion Fund (EBEF), which will provide financial support to micro, small, and medium enterprises affected by the ongoing Middle East crisis.
Under the EBEF, loans of up to P20 million may be secured and repaid for up to five years, with a one year grace period, to secure export markets through business expansion, increasing production capacity and modernization activities to scale up and strengthen their competitiveness and compete globally.
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