Philippine exporters predict revenue decline in 2025

MANILA, Philippines — Philippine exporters are expecting lower revenues in 2025 due to challenges at home and abroad. The Philippine Exporters Confederation, Inc. (Philexport) shared these concerns during a meeting in Manila. Philexport president Sergio Ortiz-Luis Jr. projected that export revenues could reach only $110 billion this year. This figure is below the goal of $113.42 billion set by the Philippine Development Plan and the $143.4 billion target in the Philippine Export Development Plan. Ortiz-Luis noted that the lack of government support has made the situation for exporters uncertain. He mentioned several risks that could affect exports, including severe weather events, global economic slowdowns, geopolitical tensions, and trade protectionism, particularly from the United States. The major markets for Philippine exports remain the United States, China, and the European Union. Despite these challenges, Ortiz-Luis pointed out some positive developments. The newly passed ‘Create More’ Act and a tax refund for non-resident tourists may help local manufacturers and service providers.