The Philippine Exporters Confederation Inc. (PHILEXPORT) said it has set a more “realistic” $110-billion exports target for 2025, reflecting a more feasible approach given the current circumstances.
The realistic target of $110 billion is significantly lower than the ambitious $163.6 billion goal for goods and services set for this year under the Philippine Export Development Plan (PEDP) 2023-2028.
PhilExport quoted the latest DTI data, which showed that merchandise exports from January to October 2024 saw a slight increase to $61.8 billion from $61.6 billion during the same period in 2023.
PhilExport president Sergio R. Ortiz-Luis Jr., who is also Export Development Council vice chair, said that to attain the export goal the government should provide more budget for the concerned agencies, particularly the Department of Trade and industry, directly involved in export development.
