PHILEXPORT president Sergio R. Ortiz-Luis, Jr. in a live radio phone interview on February 10 said it was “a happy surprise” to them to learn that latest government data indicated that Philippine exports had surged in 2025 despite headwinds, particularly the higher US tariffs imposed on the Philippines.
The United States on July 22, 2025 slapped a 19 percent reciprocal tariff rate on Philippine export products, which Ortiz-Luis had slammed in earlier interviews, warning of its impact on shipments from the Philippines, one of the staunchest allies of the US in the region.
However, Ortiz-Luis said that even with the higher duties, the country’s manufactured goods exports grew 16% last year, and the trade group is hoping for another prosperous year for exporters, barring unexpected setbacks and adverse developments.
Philippine exports rallied to close 2025 on a high note as preliminary data from the Philippine Statistics Authority show that overseas shipments grew by more than 20% for three consecutive months in the final quarter of 2025.
Exports hit USD6.99 billion in December, a 23.3 percent jump from the previous year. This was the third month in a row that export numbers posted growth. For the full year, exports reached $84.41 billion, a significant 15.2 percent increase over USD73.27 billion in 2024. The full-year export value of USD84.41 billion is a record high, with the country logging a consistent growth of more than 20 percent in the final quarter of 2025.
Electronics remained the country’s leading export, followed by machinery and transport equipment, wiring harnesses, bananas, and coconut products.
Meanwhile, asked about the impact of a depreciating peso against the US dollar, Ortiz-Luis said it is actually a “good sign” for Overseas Filipino Workers (OFWs) and their families, exporters and their local suppliers, and domestic producers and manufacturers because it makes the country “more competitive.”
“In short, more than half of the Filipino people are benefitting [from] the strong dollar,” he said.
On the other hand, the peso depreciation is also problematic because it raises the costs of fuel and electricity imports since the Philippines is one of the few countries in the region that do not subsidize these sectors, he added. It also increases the amount of Philippine international loans since debts are paid in dollar denomination.
But overall, said the business leader, the peso depreciation can be an advantage for the Philippines as long as it’s neither too sudden nor too fast because it benefits the OFWs, exporters, the tourism industry, and domestic manufacturers and producers, especially those in the agriculture sector that are competing with imported products in the country.
“As long as the peso decline doesn’t happen too fast or too much then it’s good for Filipinos in general,” Ortiz-Luis said.
