The Export Development Council (EDC) will meet in the first quarter of 2025 to set new targets for the Philippine Export Development Plan (PEDP). DTI-EMB Director Bianca Pearl Sykimte stated that the targets may be lowered compared to the initial PEDP goals due to their ambition exceeding those outlined in the Philippine Development Plan (PDP). While the PEDP originally aimed for higher export figures, the PDP presents more tempered targets. Sykimte emphasized that the Philippine government remains confident in achieving the PDP's total export target of $107 billion for 2024.
THE Export Development Council will convene within the first quarter of 2025 to set new targets under the Philippine Export Development Plan .
“We have not had a chance to present to the EDC yet the revised PEDP targets, but definitely lower than what was originally reflected in the PEDP,” Sykimte told reporters in a recent interview. Sykimte earlier explained that they may slash the targets in the PEDP as it contains targets which are “more ambitious” compared to those set in the Philippine Development Plan 2023-2028.https://businessmirror.com.ph/2024/12/09/trade-restrictive-measures-not-trump-2-0-bug-exporters/She explained that the PDP was drafted earlier, and this accounts for why the targets are “more tempered,” whereas the PEDP was intended to be more ambitious.
Meanwhile, under the country’s Export Development Plan, the targets are: $143.4 billion for 2024; $163.6 billion for 2025; $186.7 billion for 2026; $212.1 billion for 2027; and $240.5 billion for 2028.Sykimte noted that as of October 2024, merchandise exports grew by 0.4 percent year-on-year to $61.8 billion from $61.6 billion.
EXPORT DEVELOPMENT Philippine Development Plan Philippine Export Development Plan Trade Targets Economic Growth
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