Philippine exports hit record high in first two months of 2026

MANILA – The Philippines’ total exports from January to February 2026 reached USD 14.47 billion, an 8.3 percent increase from the same period last year, marking the highest export level for the first two months since 1991, according to the Philippine Statistics Authority (PSA).

Building on January’s USD 7.14 billion gains, export performance remained strong in February, with outbound shipments growing by 8 percent to USD 7.33 billion from USD 6.79 billion in the same month in 2025.

The February figure marked the 14th consecutive month of export expansion and the highest monthly level since October 2025.

Department of Trade and Industry (DTI) Secretary Ma. Cristina A. Roque said the latest figures reflect steady global demand and affirm the Philippines’ expanding trade reach, supported by a stronger network of free trade agreements (FTAs) under the administration of President Ferdinand R. Marcos Jr.

“The broad-based gains across electronics, minerals, and agro-based products show that Filipino products are recognized and utilized globally, reflecting the quality and reliability of our industries,” Roque said.

“These results affirm that our strategy to diversify and deepen trade partnerships is working. We will build on this momentum by expanding market access through our FTAs, strengthening value chains, and enhancing support for exporters to sustain growth throughout the year,” she added.

Electronics drove export growth, increasing by USD 718.92 million to USD 4.23 billion and accounting for 57.7 percent of total exports.

Machinery and transport equipment followed at USD 415.22 million or 5.7 percent, while gold reached USD 337.55 million or 4.6 percent.

By commodity group, manufactured goods dominated exports at USD 5.96 billion or 81.3 percent of the total.

Mineral products contributed USD 615.26 million or 8.4 percent, while agro-based products reached USD 608.06 million or 8.3 percent.

Industry sources attributed the strong performance to sustained global demand for semiconductor components and devices, particularly those used in emerging technologies, as well as higher shipment volumes during the month.

Agro-based exports also posted gains, supported by increased demand for desiccated coconut and other coconut products, which lifted the coconut subsector by 6.5 percent despite lower coconut oil exports.

Meanwhile, processed pineapple products—including canned pineapple, juice, and concentrates—drove a 17.3 percent increase in the fruits and vegetables subsector, offsetting weaker demand for fresh bananas in some markets.

By trading partner, the United States remained the top export market at USD 1.41 billion or 19.3 percent of total exports.

Other key destinations were Hong Kong at USD 1.17 billion or 16.0 percent, Japan at USD 986.44 million or 13.5 percent, China at USD 663.71 million or 9.1 percent, and the Netherlands at USD 328.0 million or 4.5 percent.

The DTI said it continues to monitor global developments affecting trade and logistics and is working with industry partners on market diversification, alternative distribution channels, supply chain coordination, and timely market information. /DG