The Philippine export industry is recovering from the pandemic’s impact and is expected to further grow as economies open worldwide while stakeholders embark on a digitalization and business continuity program.
The lowering of the alert levels toward the full reopening of the economy, coupled with fast-tracking of the vaccination program, are critical interventions to help achieve our recovery and growth targets, Philippine Exporters Confederation Inc. (Philexport) chair George Barcelon said during the Pilipinas Conference, held virtually on November 22 to 26.
Barcelon said exports have risen from a 50-percent plunge in April 2020 to an 18-percent year-on-year increase up to September this year, marking the seventh consecutive month of improved performance.
He said electronics is expected to continue to be the biggest dollar-earner, with industrial, medical, automotive, and telecom electronics products as growth drivers.
With the sector’s continued recovery, Barcelon said the export industry group is implementing the Future-Ready (P30) program using two strategies: technology and closer collaboration with partners.
The program features five components—the AI-powered Philexport portal, business continuity plan, The Road to FIRe (Fourth Industrial Revolution) Project, Thematic Clusters, and Export Connect.
The portal features relevant information, business matching, online transactions with Philexport, and promotion and marketing, among others.