THE country’s export earnings may not completely suffer from the higher tariffs that could be imposed by the Trump administration, according to the Bangko Sentral ng Pilipinas .
Remolona said much of the uncertainty this year hinges on the incoming Trump administration, which is expected to not only raise tariffs but also deport millions of migrants from the United States. In November 2024, total export sales in November 2024 amounted to $5.69 billion, a contraction of 8.7 percent from the $6.23-billion total export sales in the same month of the previous year.
The data also showed the United States was the country’s largest export market in November 2024. It posted the highest export value amounting to $969.09 million or a share of 17 percent to the country’s total exports in November 2024.
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