Mr. Sergio R. Ortiz-Luis Jr., EDC Vice Chair and PHILEXPORT President mentioned in an interview that the country’s export target is currently falling short of this year’s target, which is only about to reach $115B. External factors, such as issues related to the Ukraine-Russia and Israel-Hamas war, have contributed to this gap.
The Philippine Export Development Plan (PEDP) 2023-2028 aims to achieve a total export target of $126.8B by the end of 2023. This plan is advancing export development as a national agenda, recognizing that a strong export sector indicates a supportive ecosystem and increased export competitiveness and opportunities among exporters. To attain this realistic export goal by 2028, the private sector is urging the government to leverage the PEDP to seek more budget for the concerned agencies directly involved in export development.
Mr. Ortiz-Luis emphasized the importance of increasing budgets for key export-related departments, in particular the Department of Trade and Industry and the Department of Science and Technology, to demonstrate a solid commitment to the PH export industry.
The Philippine Statistics Authority (PSA) reported that there was a 4.2% increase in Philippine exports. However, in the preceding months, up to August, it showed a decline of 6.6%, with the total export value at $47.81B.
Watch the full interview of Pres. Sergio Ortiz-Luis Jr. discussing Achieving 2023 PH Export Target in this link: AOB