Gov’t keeps export target

MANILA, Philippines - The government remains optimistic it can meet the 15-percent growth target this year even as merchandise exports declined year-on-year in the first quarter, an official said.

“We are always on the optimistic side...This year, we are hoping for the much awaited snapback,” Export Development Council (EDC) executive director Senen Perlada told reporters in a chance interview.

He said the EDC is sticking to its 15-percent growth goal for total exports this year even as merchandise exports for the first quarter decreased year-on-year.

To achieve the 15- percent growth and reach $81.53 billion this year, merchandise exports will have to increase by 15 percent to $61.10 billion, while service exports will have to rise by five percent to $20.43 billion.

Latest data from the National Statistics Office (NSO) however, showed that merchandise exports dropped by 6.2 percent to $12.080 billion in the first quarter from the $12.876 billion in the same period last year.

The lower merchandise exports resulted from the still weak performance of shipments of electronic products.

Outbound shipments of electronic products which accounted for the bulk of total exports, fell 30.29 percent year-on-year in the first quarter to $4.706 billion.

“What we supply mostly are (electronic) products for PC (personal computer) and tablets but smartphones is the name of the game,” Perlada said.

To hit the exports growth goal this year and make up for the weak performance of electronic products, he said the government wants to promote other products.

“We are always trying to find other products for exports,” he said.