MANILA, Philippines — The umbrella organization of Philippine exporters is hopeful total merchandise exports this year could still post growth from a year ago, with anticipated strong performance in the last two months of 2018.
Philippine Exporters Confederation Inc. president Sergio Ortiz-Luis Jr. said in a telephone interview the group is hopeful shipments of goods to other countries could still grow this year.
“We are hoping the performance in November and December will balance it off,” he said.
He said traditionally, the last quarter of the year is normally stronger than the three other quarters.
“We hope we can see November and December improve,” he said.
Latest available data from the Philippine Statistics Authority (PSA) showed merchandise exports declined 1.2 percent to $57.07 billion in the January to October period from the previous year’s $57.75 billion.
Last year, total merchandise exports reached $68.7 billion, 20 percent higher year-on-year.
Earlier, Department of Trade and Industry-Export Marketing Bureau director Senen Perlada said the country’s merchandise exports are expected to match last year’s performance or post up to three percent growth this year.
Trade Secretary Ramon Lopez has said growth in this year’s merchandise exports would be driven mainly by electronic products.
Electronic products are the country’s top merchandise exports.
As of end-October, electronics exports went up 5.20 percent to $31.71 billion from $30.14 billion a year ago.
For next year, Ortiz-Luis said the group is optimistic the country’s merchandise exports would even post better performance.
“We hope the improvement will continue,” he said.