Amid domestic and global economic and political challenges, the Board of Investments announced the recalibration of the Philippine Export Development Plan (PEDP) for 2023-2028.
In her presentation during the culmination of National Exporters Week 2025 at the EDSA Shangri-La on Thursday, BOI-Export and Marketing Bureau Director Bianca Sykimte said the new target for the PEDP is now between $132.8 billion and $135.1 billion.
Originally, the PEDP—signed by President Ferdinand Marcos Jr. in June 2023—projected an export value of $163.6 billion in 2025; $186.7 billion in 2026; $212.1 billion in 2027; and $240.5 billion in 2028.
She said the recalibrated PEDP was based on global demand and the recent export performance of key sectors driving the country’s export numbers.
“The exports’ growth has decelerated in the last two years, so we have to adjust. We lowered it because of global political tensions, uncertainty of the United States tariffs, and the disruption of global routes, particularly the earlier drought in the Panama Canal and the Houthis’ attack. In the first two years, we really missed the export targets, so we have to recalibrate. As per BOI Undersecretary Perry Rodolfo, the best time to recalibrate is when we are about to grow,” she said.
With October 2025 exports posting a 19.4 percent year-on-year increase, Director Sykimte said they expect November, December, and the full year to remain positive for Philippine exports, driven by continued growth in electronics and semiconductors.
“Even in the historical average, it’s going to be a positive growth in the country’s export (for this year). I think we can bank on our good performance in the last five months, which was $7.2 billion in exports on average, compared to $5-6 billion in the past years,” she said.
She added that the October export surge was spread across many sectors, with 28 commodity groups growing and only 21 declining.
Citing October export figures, Sykimte said the electronics sector remains the country’s leading export category, growing by 11.7 percent—from $36.54 billion in 2024 to $40.82 billion in 2025.
The expansion suggests sustained momentum in semiconductor and electronic component manufacturing, supported by export diversification and increased orders from major trading partners.
Reacting to the recalibrated PEDP, Philippine Exporters Confederation Inc. (PHILEXPORT) president Sergio Ortiz Luis Jr. said the revised target is more realistic given the challenges exporters face.
“Actually, the lowered target we were doubtful about, until US President Donald Trump mellowed down about tariffs. We hope the electronics and agriculture sectors will not be compromised, as 15 percent of our exports go to the US, half of which are electronics, and the other half is agriculture,” he said.
Under the recent U.S. Executive Order, the share of Philippine agricultural exports to the U.S. enjoying exemptions from reciprocal tariffs rose from virtually zero to over 65 percent of covered categories.
The policy shift benefits high-value products such as coconut oil and derivatives, pineapple and mango preparations, frozen bananas, cassava, baked goods, coffee, and select spices.