The launch of the 2023-2028 Philippine Export Development Plan did not materialize at the culmination of National Exporters Week 2022 on Wednesday.

Explaining the delay, Philippine Exporters Association President Sergio Ortiz Luis Jr. said in an ambush interview yesterday that Department of Trade and Industry Secretary and Export Development Council chairperson Alfredo Pascual is still scrutinizing the targets of exporters.

"After further study and scrutiny, that will be the time that it will be released, subject to the approval of the council. It was stalled because they keep on tweaking it as the situation is too dynamic," Ortiz Luis Jr. said.

The PHILEXPORT president revealed that the growth target for the previous PEDP was not attained, as the export growth for two years was stunted due to the Covid-19 pandemic, as well as shipping and supply chain disruptions brought about by Russia's invasion of Ukraine in February.

"The original target is $120 to $130 billion. It was not met. What we had was $87 billion last year. And hopefully, we can meet $100 billion this year. We have a bit of a delay of two to three years in our target," he said.

Despite this, Ortiz Luis Jr. said that in September 2022, export receipts increased by 7 percent to $7.16 billion, a turnaround from a 2 percent decrease in August and faster than the 6.4 percent growth in September 2021.

"The 'surprise bounce' in exports was again driven by a 19 percent jump in electronic shipments," he said, noting that the electronics sector will remain to be the
game-changer in export growth in the years to come.

Ateneo de Manila professor Dr. Cielito Habito supports the forecast in his presentation on export earnings for the electronics and electrical sector which may reach $106.4 billion by 2028.

Habito said the sector is expected to grow by $53.7 billion in 2023, $61.1 billion in 2024, $70 billion in 2025, $80.3 billion in 2026 and $92.4 in 2027.

The director-general of the National Economic and Development Authority and socio-economic planning secretary during the Ramos administration also forecast growth in the exports of agriculture and agri-based products, transport, home furnishings, wearables, fashion accessories and travel goods, minerals, IT-BPM and chemicals in the next six years.