THE Export Development Council (EDC) has approved the revised targets for exports for 2021 and 2022, Trade secretary Ramon Lopez said.
“We have adjusted the export targets taking into consideration impact of pandemic and weaker global demand. Thus, the revised targets are lower than the original targets where export levels were originally projected to reach over $130 billion by 2022,” said Lopez, who also chairs the EDC.
EDC crafts and oversees the implementation of the Philippine Export Development Plan (PEDP).
For this year, the EDC eyes export revenues to reach $91.7 billion, or a growth of 12.5 percent.
A big portion is expected from merchandise exports projected to sell $54-billion worth of goods overseas, while services at $37.7 billion.
Export growth in 2022 is eyed at 14.8 percent, targeting $105.3 billion in revenues, about $62 billion of which will come from the export of goods and $43.3 billion from services exports.
“We can consider these targets as fighting targets, after intensive consultations with each export sector and stakeholder and global market prospects per sector. This also means that we shall exert all efforts in terms of policies and support programs to assist the export sector and help them achieve these fighting targets,” Lopez said. (PNA)
