Philexport: PH exports to recover

Manila -- Projections on the country's exports revenues remain bright as robust demand is expected in the second half of 2018, according to the Philippine Exporters Confederation, Inc. (Philexport), the umbrella organization of local exporters.

In a statement Friday, Philexport President Sergio Ortiz-Luis Jr. said the group is optimistic their sector will hit its 5-percent growth target on revenues by the end of this year.

"Well, it [second semester] will be better than the first half because it is approaching the Christmas season so we expect it will be good," Ortiz-Luis said.

"There are some improvements in our markets. Electronics seems to be doing well. In agriculture, it's coconut [that is growing], the rest are going down. We hope that mineral products should contribute also," he added.

For the first half 2018, the Philippine Statistics Authority (PSA) reported a 3.8-percent decrement on merchandise exports revenue amounting to USD32.73 billion from USD34.04 billion in the same period in 2017.

Ortiz-Luis said he expects the upbeat services sector to buoy export revenues this year. /

“Well, it [second semester] will be better than the first half because it is approaching the Christmas season so we expect it will be good”. Philexport President SERGIO ORTIZ-LUIS JR.