The Export Development Council (EDC), which is composed of representatives from the government and private sector, has proposed an export target of $100 billion for 2016 in the draft Philippine Export Development Plan (PEDP) for 2014-2016.
The PEDP is expected to transform the Philippines “into an exporting nation that will fuel growth of our SMEs (small and medium enterprises), creating more jobs and competitive products,” Department of Trade and Industry (DTI) Undersecretary Ponciano C. Manalo, Jr. said.
The PEDP 2014-2016 is the export-sector component of the Philippine Development Plan 2011-2016, the government’s primary economic and social development program.
“As a main trade policy document, the PEDP underscores strategies consistent with the AEC (ASEAN Economic Community), an important one of which is the unified international trade strategy framework, with industry competitiveness as its foundation,” Manalo said.
“The goal is to capacitate the export sector so that it can maximize its participation in the global value chain.”
He also noted that the backdrop against which the 2014-2016 PEDP is proposed includes creating comprehensive packages of export support and promotion programs for select sectors defined in the industry roadmaps recently developed.
“With the upcoming ASEAN integration in 2015, Philippine products will need to be more competitive and accessible. The export industry must participate in high-value activities and become more diversified and sophisticated,” Manalo said.
“The DTI, working the Export Development Council Executive Committee and PHILEXPORT, advocates support of all government agencies to help ensure that our exports are facilitated while the goals of inclusive growth and job generation are achieved,” he added.
Based on the preliminary report of the Philippine Statistics Authority, merchandise exports grew 8.3 percent year-to-date from $27.5 billion posted in the first semester of 2013 to $29.8 billion in the same period in 2014. Philippine exports of electronic products increased by 4.7 percent in the period, while non-electronic products increased at more than double rate at 10.8 percent for the first semester of the year.
In addition, Japan, with 22.4 percent share of total exports, remained the top market of Philippine export merchandise in the first half of 2014, posting a remarkable double-digit growth of 20.4 percent in the period.
The combined markets of China and Hong Kong SAR with 21.5 percent share of cumulative exports, was the second biggest export destination of Philippine goods in the first semester of 2014, growing by a double-digit rate of 20.7 percent in the year-to-date.
The US ranked third among the top export markets of the Philippines from January to June 2014, accounting for 14 percent of total Philippine merchandise exports, and posting a 4.7 percent YTD growth.