Exporters expect to ship USD 108 billion this year

Merchandise exports are expected to hit USD 108 billion this year, with US tariff policy remaining a risk, the Philippine Exporters Confederation, Inc. (Philexport) said.

“Our computation (for exports) is around USD 108 billion,” Philexport President Sergio R. Ortiz-Luis, Jr. told reporters last week. 

“The jump won’t be as large but the increase in exports will continue,” he said.

In the nine months to September, merchandise jumped 17.23% year on year to USD 73.95 billion. September export growth was the highest since the 74.23% jump recorded in April 2021.

Merchandise exports amounted to USD 84.48 billion in 2025, the highest level since the government started tracking the indicator in 1991.

Mr. Ortiz-Luis noted that policy uncertainty surrounding US tariffs continues to be a risk to the export outlook.

The US has long been the top destination of Philippine-made goods. The value of exports to the US was USD 2.63 billion, equivalent to 26.6% of total exports in September.

US President Donald J. Trump in July imposed a 12.5% tariff on Philippine exports after the US Trade Representative found that the country is importing goods made with forced labor. This replaced the 10% baseline tariff imposed on Philippine-made goods, which expired on July 24.

Mr. Ortiz-Luis noted that the exemption of electronics and agricultural goods from the US tariffs is critical in keeping exports up.

Exports of electronic products jumped 31.8% to USD 44.06 billion at the end of September, while exports of total agro-based products rose 1.3% to USD 5.53 billion.

Mr. Ortiz-Luis said the Philippines has struggled to diversify its export drivers as its production costs are higher compared to other countries.

He also cited the lack of infrastructure and concerns over ease of doing business as key bottlenecks. 

“The reality is that many of our products are not competitive,” he added. — Beatriz Marie D. Cruz, Senior Reporter