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THE Department of Trade and Industry-Export Marketing Bureau (DTI-EMB) is “cautiously optimistic” that Philippine export growth will exceed the Development Budget Coordination Committee’s (DBCC) forecast this year, an official said.
THE Department of Trade and Industry-Export Marketing Bureau is “cautiously optimistic” that Philippine export growth will exceed the Development Budget Coordination Committee ’s forecast this year, an official said.
“We’ve seen the DBCC forecast ... We are cautiously optimistic that we’ll surpass ,” DTI-EMB Director Bianca Sykimte said, noting that exports remained on track for strong growth after merchandise shipments posted a double-digit increase in the first half of the year . At its 193rd meeting, the DBCC projected export growth at 3 percent this year, 4 percent annually from 2027 to 2029, and 5 percent in 2030.
Data from the Philippine Statistics Authority showed merchandise exports rose 13.1 percent to $46.72 billion from $41.31 billion a year earlier, the highest H1 value since the series began in 1991. Among the DTI-EMB’s efforts to sustain growth is encouraging exporters to take greater advantage of the United Kingdom’s Developing Countries Trading Scheme , which provides preferential tariffs and simplified trading rules.
Get the latest news delivered to your inbox Sign up for The Manila Times newsletters By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy. Recent reports showed that only £299 million, or 16 percent of the Philippines’ £1.8 billion in exports to the UK last year, qualified for preferential tariffs under the DCTS. Of the figures, only £207 million were granted benefits.
Sykimte said the DTI-EMB needs more detailed sectoral data to determine why some eligible exporters are not using the scheme. Advertisement She explained that the department does not have direct access to utilization figures because the data come from importing countries such as the UK.
“It’s really a conversation between the Philippines and the trade partner if they can share with us the utilization,” Sykimte said, adding that the DTI regularly coordinates with the UK government on the matter. The DTI-EMB has been conducting information sessions with UK experts to help exporters use the DCTS, launching last year a handbook on the scheme.
Market diversification and free trade agreements will become more valuable as the Philippines moves toward upper-middle-income country status, which could make it ineligible for DCTS benefits, Sykimte said. Advertisement Under the scheme, a country may graduate from DCTS preferences after reaching UMIC status and maintaining it for three consecutive years.
“Market diversification has always been a strategy for us,” Sykimte said, noting that more than 60 percent of Philippine exports go to markets where the country enjoys trade preferences, making greater FTA utilization a priority.
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