DTI targets double-digit percent growth this year

The Department of Trade and Industry (DTI) is projecting another strategy with their target of 12 to 15 percent growth in merchandise exports for the industry recovery.

Recently, the gathered data from Philippine Statistics Authority (PSA) shows that exports grew by the double digit of 11.68 percent in the first 10 months of year 2017. Merchandise exports fell from 4.4 percent in 2016 when it was compared to many year ago level. By the year 2018, the department is hoping for a better increase growth.

According to Trade Secretary Ramon Lopez, it was "challenging", especially in putting their efforts for pushing exports farther from 2016. He was expecting for a good performance this year to cope with the current growth.

By this year, Lopez said that they would also work on producing more current merchandise exports. The Department would like to probably see the increase in subfactors of exports such as agricultural, garments, furnitures, and such.

As their goal is to build up, targeting the export value by the end of Duterte Administration, which ranges from $122 to $131 billion is based on the Philippine Export Development Plan.

"The export sector is a big employment generator, and we welcome these positive developments, as this will translate to more job opportunities", as the Department of Trade and Industry Undersecretary for Trade and Investments Promotion Group Nora K. Terrado said.

Even though it is noted that merchandise exports should be diversified, markets should also be developed, for exports industry is "bullish.", as Undersectary Terrado echoed.

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