$49 billion unrealized export potential in the Philippines

The Philippines currently has $49 billion of unrealized export potential according to the International Trade Centre‘s (ITC) Export Potential Assessment (EPA) report. This is out of the $107 billion total export potential of the Philippines in the products covered by the study,

The top market where the Philippines has the largest export potential (EP) is East Asia with $54 billion followed by North America, ASEAN, and the EU.

The top sector is machinery and electronic equipment which covers almost 75% of export potential. The other top sectors are manufactured products, horticulture, minerals, metals, and other products.

For agriculture, the total export potential is $16 billion, out of which $5.2 billion is still untapped. The total export potential is highest in East Asia, but growth opportunities are higher in the EU.

The EPA is part of the ARISE Plus Philippine Project, a 4-year project funded by the EU, focused on building the competitiveness of the Philippines. It is based on an ITC methodology identifying products, markets, and suppliers with untapped export potential as well as opportunities for export diversification. One of its objectives is to serve as a tool to inform the Philippine national planning and policy-making body, including the new Philippine Export Development Plan (PEDP).

The said report was presented by ITC during the December 02, 2021 session of Usapang Exports, as part of the activities of the annual celebration of the National Exporters Week (NEW), jointly organized by the Export Development Council (EDC), DTI Export Marketing Bureau (EMB), and the Philippine Exporters Confederation, Inc. (PHILEXPORT).KJDA 

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