Exports seen growing 10% this year

MANILA, Philippines - The country’s total export revenues may grow 10 percent this year with an estimated $85 billion worth of receipts on the back of improving global economy and local economic conditions.

“The outlook is good. We will at least hit our export target if not exceed it a little bit...Our target next year is $85 billion, this year (it is) around $79 billion,” said Senen Perlada, executive director of the public-private Export Development Council.

Perlada said the export income from the services sector continued to expand at a very strong rate on the back of software development services and healthcare information management.

He said better exchange rate and the implementation of more measures to address the port congestion problem in Manila are also expected to boost exports.

To achieve this year’s exports goal, Perlada, also director of the Department of Trade and Industry’s Export Marketing Bureau, said local exporters are looking for opportunities to expand market share or to penetrate new markets.

“Hopefully, we can extend a bit our markets maybe to more of the Gulf Cooperation Council (GCC) Plus (countries). (And) I think maybe Turkey, hopefully a bit of Brazil and ASEAN, the CLMV (Cambodia, Laos, Myanmar, Vietnam) countries,” he said.

GCC groups the six Middle Eastern countries – United Arab Emirates, the Kingdom of Bahrain, the Kingdom of Saudi Arabia, the Sultanate of Oman, Qatar and Kuwait.

Further, Perlada said the country will focus on job-creating export industries.

“We will focus on those products that will contribute to inclusive growth. These include crustacean, mollusks, fresh and processed foods, still electronics and halal organic and natural products,” he said.