The Department of Trade and Industry (DTI) said it is maintaining its double-digit export growth target as it expects a recovery in the second quarter to offset the drop in exports recorded in the first four months of the year.
The DTI’s Export Marketing Bureau (EMB) Director Senen M. Perlada said exports are expected to grow in the three months to June driven by electronic products while high-value crops will be boosted by output sufficient to start servicing overseas demand.
“Electronics will be a driver. And then, we hope, after we get through the bottlenecks in the supply of certain agriculture products, we will eventually report an increase,” Perlada said.
Agricultural products facing difficulties meeting export demand include mangoes, plantains, peanuts, coffee, cacao, pili and garlic. He said cacao, coffee and peanut output is insufficient to satisfy even domestic requirements.
Meanwhile, production of coconut-based products and fresh bananas are under pressure from cocolisap and fusarium wilt, respectively. The government’s 2018 export growth target is 10%. In 2017 exports amounted to $62.87 billion.