The public-private Export Development Council (EDC) has revised downward the country’s export targets for the year until the end of the Marcos administration in response to recent challenges in global trade.

Bianca Sykimte, director of the Department of Trade and Industry (DTI) - Export Marketing Bureau, said the EDC is setting a lower benchmark for the export goals under the Philippine Export Development Plan (PEDP) as part of its midterm review.

Under the revised PEDP targets, the country’s exports of goods and services are now anticipated to reach $110.8 billion, well below the initial target of $163.6 billion.

The new target for next year is $116.1 billion, $123.3 billion in 2027, and $132.8 billion in 2028.

In contrast, the original PEDP set a more ambitious benchmark of $186.7 billion in 2026, $212.1 billion in 2027, and $240.5 billion in 2028.

Sykimte said this recalibration aligns the PEDP with the export goals embodied under the government’s Philippine Development Plan (PDP).

Under the PDP, the target for the country’s exports is to reach $113.42 billion this year, $120.22 billion in 2026, $127.44 billion in 2027, and $135.08 billion in 2028.

“Given the recent performance of our key export sectors and the persistent weakness of global demand, we have to adjust our export targets to align with the PDP,” said Sykimte.

Sykimte said the range between the PDP and the revised PEDP would serve as the government’s export targets until 2028.

This means that the export goal for this year is between $110.8 billion and $113.42 billion, $116.1 billion and $120.22 billion in 2026, $123.3 billion and $127.44 billion in 2027, and $132.8 billion and $135.08 billion in 2028.

Sykimte said the downgraded export goal is a direct result of uncertainties fueled by the tariff policy of the United States (US), global supply chain issues, and geopolitical tensions.

This comes even as the country’s merchandise exports have grown by 13.8 percent in the first 10 months.

Based on data from the Philippine Statistics Authority (PSA), exports of goods totaled $70.43 billion from January to October, up from $61.9 billion in the same period last year.

Sykimte said she expects continued growth in the last two months on the back of electronics exports, which rose by 11.7 percent to $40.82 billion by the end of October.

However, it is worth noting that service exports slightly dipped to $24.43 billion in the first half from $24.65 billion last year.

“Because our services exports are only the first half, it's hard for us to really know what will happen in the year,” said Sykimte.

Philippine Exporters Confederation Inc. (Philexport) president Sergio Ortiz-Luis Jr. said the updated export targets are now more “realistic” considering the ongoing challenges to global trade.

“It's not what we would like, but it's attainable,” said Ortiz-Luis, who is a vice chair of the EDC.

“Even with that lowering, we are still being left behind by our neighbors, that is regrettable,” he stressed.

Ortiz-Luis has been pushing the government to bolster the budget of the DTI’s export and investment program, which has only been earmarked with ₱962 million next year.

He said the government must look at the export industry not as expense, but rather an investment.

“If there was funding backing this up, we could’ve look for a higher target. But this side, we're living with reality,” he added.

Philexport’s target for the country’s exports of goods and services this year is between $105 billion and $110 billion.

“Because our services exports are only the first half, it's hard for us to really know what will happen in the year,” said Sykimte.

In 2024, service exports jumped by 7.5 percent to $51.98 billion from $48.33 billion. Expert of goods, on the other hand, slipped to $55.01 billion from $55.26 billion.

Total export of goods and services last year stood at $106.6 billion.

Philippine Exporters Confederation Inc. (Philexport) president Sergio Ortiz-Luis Jr. said the updated export targets are now more “realistic” considering the ongoing challenges to global trade.