Philippine exports are expected to grow by 10 percent to about $85 billion in 2015 due to an improving global economy and sustained growth on the local front, the Philippine Exporters Confederation Inc. said Monday.
Senen Perlada, executive director of the public-private Export Development Council, was quoted by Philexport as saying that export revenues were expected to be boosted largely by the continued expansion of the services exports, given the rising demand for software development services and healthcare information management.
A better exchange rate and the implementation of more measures to address port congestion in Manila are also seen to boost exports in 2015, he added.
To achieve next year’s exports goal, Perlada stressed the need for local exporters to expand their market share and penetrate new markets.
These potential markets include the Gulf Cooperation Council countries namely United Arab Emirates, the Kingdom of Bahrain, the Kingdom of Saudi Arabia, the Sultanate of Oman, Qatar and Kuwait; Turkey; Brazil; and the member-countries of the Association of Southeast Asian Nations, particularly Cambodia, Laos, Myanmar and Vietnam.
Perlada added that the export industry and the government would do well to focus on job-creating industries.
“We will focus on those products that will contribute to inclusive growth. These include crustacean, mollusks, fresh and processed foods, electronics and halal organic and natural products,” he said.
Trade Undersecretary Ponciano C. Manalo Jr. earlier said he expected Philippine exports to grow by 10 percent next year due to a recovery of bigger markets like the United States and Japan and the expected continued growth of the local electronics industry.
Apart from electronics, other expected significant contributors to the country’s exports growth include agricultural products like coconuts and pineapples, automotive parts, as well as mining (copper and nickel). Amy R. Remo