PHILIPPINE merchandise exports reached a record $9.11 billion in August, driven by electronics shipments, prompting Trade Secretary Cristina Roque to pledge more support.
Preliminary Philippine Statistics Authority data showed exports rose 27.8 percent from $7.13 billion a year earlier, marking the highest monthly value since records began in 1991. August was also the 20th consecutive month of year-on-year export growth.
Exports from January to August increased 14.8 percent to $64.04 billion from $55.8 billion a year earlier, also a record for the period.
Electronics accounted for $6.2 billion, or 68.1 percent of August shipments, up by $2.32 billion from a year earlier. The Department of Trade and Industry (DTI) linked the sector’s growth to sustained global demand for artificial intelligence and data centers.
Manufactured goods comprised 84.4 percent of total exports at $7.69 billion, followed by minerals at $800.6 million, and agri-based products at $455.3 million.
The United States remained the largest export market, taking $2.17 billion, or 23.8 percent of shipments. It was followed by Hong Kong at $1.57 billion; China, $1.05 billion; Japan, $704.5 million; and Taiwan, $516 million.
Roque said DTI would help businesses meet product standards, connect with buyers and enter new markets.
Some agricultural and processed-food exporters, however, continued to face supply and logistics constraints. DTI said it was working with the private sector to address these problems.
As part of its market expansion efforts, DTI supported 11 Philippine food companies at the country’s first national participation in Fine Food Australia, which opened in Melbourne on Aug. 31. They showcased halal-certified, healthy, natural and premium products to buyers from Australia and the wider Oceania region.
“Trade promotion must lead to real sales, repeat orders, and long-term partnerships for our exporters,” Roque said.
