By Kris M. Crismundo
MANILA, Oct. 3 (PNA) — The Export Development Council (EDC) is seeing exports revenue to grow by more than 8.0 percent this year, Department of Trade and Industry-Bureau of Export Trade Promotion (DTI-BETP) Director Senen M. Perlada told reporters Friday.
Perlada said the optimism in exports revenue this year is pushed by stronger demand in electronics industry and service sector.
Early this week, Semiconductor and Electronics Industry of the Philippines Inc. (SEIPI) President Dan Lachica hiked forecast for electronics revenue for this year from the initial 5.0 percent growth to a range of 5.0 to 8.0 percent at end-2014.
The BETP official also noted that the weakening local currency is an opportunity to exceed the government’s initial exports target.
On Monday, the Philippine peso breached the 45-level. It settled at the end of the week at Php44.75 against a dollar.
The Development Budget Coordination Committee (DBCC) posts export revenue goal at 8.0 percent growth for this year.
However, Perlada said the above-eight-percent exports growth for 2014 is still conservative despite adjustments of exports revenue of the electronics industry.
“We would like to temper that,” he said citing some factors including uncertain economic recovery of the United States and effects of port congestion, among others.
“Based on trend, the increase would not be abrupt. I will agree that export is on the upward trend, but I don’t know on the basis of other factors. What they are saying that this is demand-driven, the congestion would have an impact but by how many percent still being studied,” he added. (PNA)