Despite potential flat growth due to the Middle East conflict that has driven costs, Department of Trade and Industry (DTI) secretary Cristina Roque has projected a challenging outlook for Philippine exports, which hit record-high performance in the previous year.
Speaking at a mefia form at posh Cafe Adriatico in Malate, Manila, the trade chief expressed optimism that the country will be able to ‘weather the storm’ triggered by the Middle East crisis through its strong export sector.
She also mentioned that the Philippines could benefit from the recent U.S. tariff exemptions on identified agricultural products as discussions are ongoing for additional products to be included in the exemption.
According to Roque, the Marcos Jr. administration has unveiled an ambitious plan that roadmaps to raise the country’s semiconductor and electronics exports to US$110 billion annually by 2030.
“This positions us as a premier global packaging partner, targeting US$70 billion in semiconductor exports and US$40 billion in electronics exports by 2030. A five-year workforce plan will also train and upskill 128,000 semiconductor professionals to meet the industry’s evolving technical demands,” she disclosed.
She highlighted the semiconductor and electronics sector—responsible for nearly 60 percent of the country’s export earnings and employing around three million Filipinos—as a critical driver of economic growth and job creation for the country.
