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The Philippine government slashed export targets for this year until 2028 as contained in the Philippine Export Development Plan, citing the impact of US tariff policies on the country and in global trade
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Target for this year is now $110.8 billion to $113.4 billion from $163.6 billion, according to trade official Bianca Pearl Sykimte
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For the next three years, the export targets are: 2026 – $116.1-$120.2B from $186.7B; 2027 – $123.3-127.4B from $212.1B; 2028 – $132.8-$135.1B from $240.5B
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Sykimte said the new targets are more realistic given recent developments, and noted that the PEDP launched in 2023 was drafted within the context of expected post-pandemic recovery
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The revised PEDP is expected to be released on December 5
The Philippine government has slashed export targets for this year until 2028 as contained in the Philippine Export Development Plan (PEDP), citing the impact of US tariff policies on the country and in global trade.
Bianca Pearl Sykimte, Department of Trade and Industry-Export Marketing Bureau (EMB) Director and Export Development Council (EDC) executive director, said the target for this year is now $110.8 billion to $113.4 billion from $163.6 billion.
Sykimte told the media in an interview on the sidelines of the National Exporters’ Week on Thursday that these latest targets are more realistic given recent developments on global trade as well as geopolitical tensions, and restrictions in global trade routes with the Panama Canal drought and attacks by Houthi rebels on commercial vessels in the Red Sea.
She also noted that the PEDP launched in 2023 was drafted within the context of expected post-pandemic recovery.
For the next three years, the export targets are:
- 2026 – $116.1-$120.2 billion from $186.7 billion
- 2027 – $123.3-127.4 billion from $212.1 billion
- 2028 – $132.8-$135.1 billion from $240.5 billion
Data from the Bangko Sentral ng Pilipinas data, which was processed by the DTI-EDC, showed that total exports in 2024 reached $106.6 billion, up from the previous month’s $103.7 billion.
Preliminary data from the Philippine Statistics Authority, meanwhile, show that exports grew 19.4% year-on-year in October 2025 to $7.39 billion.
In the first 10 months this year, total exports reached $70.43 billion, 13.8% higher thanthe $61.9 billion recorded in the same period last year.
READ: PH merchandise exports grow for 10th straight month in Oct
Sykimte expressed optimism on continued growth until the end of the year.
Possible drivers of growth in the last two months of the year are electronics and semiconductors, she said, but added that
She said “growth is spread across many sectors” but the main drivers are the electronics and semiconductors industry.
The revised PEDP is expected to be released on December 5.
READ: Exporters flag continued global trade volatility, call for PH gov’t action plan
