Export growth targets hiked anew
Manila (31 May) -- Export growth targets have been revised upwards on the back of strong orders and could be hiked further following the economy's better-than-expected performance in the first quarter.
Senen M. Perlada, executive director of the Export Development Council (EDC), said the public-private body, in a May 21 meeting, adjusted its 2010 growth forecast to 22% from 20%.
With exports "really going strong," he said the target for merchandise goods had been raised to 20% from 16% while that for service exports was kept at 30%.
Perlada, who is also head of the Trade department's export promotion bureau added that the electronics sector is still performing strongly and may grow around 25%. He said giftware may also grow by 10%.
The adjustment was made ahead of last Thursday's announcement of 7.3% gross domestic product (GDP) growth for January to March, which the government said was due in part to increased trade following last year's economic downturn. (PIA-Bohol) [top]