Thr proposed plan to boost the country’s exports will ensure targets in the Philippine Development Plan 2017-2022 are met, the National Economic and Development Authority said Thursday.
The Economic Development Cluster endorsed the Philippine Export Development Plan 2018-2022 for the approval of President Rodrigo Duterte.
The PEDP 2018-2022 is a five-year roadmap aimed at improving export performance and increasing the sector’s competitiveness.
“Our latest exports numbers [April 2018] have not been so good. All products showed negative growth rates, except mineral and forest products, as well as electronics. We expect the PEDP to ramp up our exports, thereby meeting our targets in the Philippine Development Plan 2017-2022,” Economic Planning Secretary Ernesto Pernia said in a statement.
Philippine exports rose 10.2 percent in 2017 to $63.2 billion from a contraction of 2.4 percent to $57.4 billion in 2016, based on a report by the Philippine Statistics Authority. Top gainers included coconut products, sugar products, forest products, mineral products and electronics.