The government has set an ambitious target to grow the country’s total exports to $240.5 billion come 2028 —the last year of President Ferdinand Marcos Jr.’s term—under a new six-year development plan that aims to transform net importer the Philippines into an "export powerhouse."
The government has set an ambitious target to grow the country’s total exports to $240.5 billion come 2028 —the last year of President Ferdinand Marcos Jr.’s term—under a new six-year development plan that aims to transform net importer the Philippines into an "export powerhouse."
The export development plan projects that total exports will grow further to $143.4 billion in 2024 and $163.6 billion in 2025.By 2028, electronic and electrical exports are expected to contribute the lion’s share with $106.4 billion to the total, followed by the Information Technology-Business Process Management sector with $63.2 billion in total receipts.
Chemicals and home furnishings are the seventh and eighth top export sectors, seen to contribute $2.4 billion and $1.4 billion, respectively, come 2028.
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