Insider Spotlight
13th straight month of growth: Philippine exports rose 7.9% year-on-year to $7.1 billion in January 2026, the highest level since October 2025
Electronics lead the charge: Shipments of electronic products exceeded $4 billion, accounting for 56.5% of total exports, driven by strong global demand for AI-related semiconductors
Minerals rebound: Gold exports reached $488.8 million, while nickel ore shipments resumed following weather disruptions late last year
Trade deals matter: Over 70% of Philippine exports were shipped to markets covered by Free Trade Agreements (FTAs) and GSP arrangements
Agro exports expand: Fresh bananas and desiccated coconut posted gains on stronger output and firmer global prices
Top export market: The United States remained the Philippines’ largest buyer at $1.2 billion, followed by Hong Kong and Japan
Preliminary data from the Philippine Statistics Authority (PSA) showed the January figure marked the longest expansion in over a year and the highest export level since October 2025.
Sustained global demand
The PSA attributed the strong performance to robust growth in electronic products and mineral exports, reflecting steady international demand for Filipino goods.
Electronic products remained the country’s top export, generating more than $4 billion and accounting for 56.5 percent of total shipments.
Industry data indicated that semiconductor exports and industrial production were supported by strong global demand for artificial intelligence-related components, as cited in the World Bank Group’s January 2026 Global Economic Prospects report.
Gold ranked second with $488.8 million in export earnings, followed by machinery and transport equipment at $383.2 million.
Manufactured goods comprised the bulk of total exports at $5.6 billion or 79.3 percent. Mineral products accounted for $732.3 million or 10.3 percent, buoyed by the resumption of nickel ore shipments early this year after weather-related disruptions in late 2025.
Industry sources said export volumes of critical minerals rebounded at the start of 2026 due to renewed production and stable global demand.
Expanded market access
A key factor behind the sustained growth was the Philippines’ aggressive expansion of market access.
Based on 2026 data, more than 70 percent of Philippine exports were shipped to markets covered by Free Trade Agreements (FTAs) and Generalized Schemes of Preferences (GSP).
The government said this reflects the country’s most extensive list of trade agreements in history, secured under the administration of President Ferdinand R. Marcos Jr., through a mix of bilateral and multilateral deals.
Trade Secretary Cristina A. Roque said the figures demonstrate that diversifying and deepening trade ties are yielding results.
“The broad-based gains across electronics, minerals, and agro-based products demonstrate that Filipino products are already consumed and recognized globally, reflecting the high quality and reliability of our industries,” Roque said.
She added that the government would further expand market reach through its FTA network, strengthen value chains, and enhance exporter support to sustain growth throughout the year.
Agro exports grow
Agro-based products contributed $573.8 million, representing 8.1 percent of total exports.
Fresh banana shipments rose on higher output and firmer demand compared to a year earlier, while desiccated coconut exports increased on stronger prices year-on-year.
Meanwhile, exporters continued to comply with evolving regulatory requirements in key markets. Tuna shipments to the United States are now subject to additional documentation under import comparability rules of the US Marine Mammal Protection Act, which took effect on January 1, 2026.
By destination, the United States remained the Philippines’ largest export market at $1.2 billion or 16.4 percent of total shipments. Other major markets included Hong Kong ($1.1 billion), Japan ($871.7 million), China ($691.8 million), and South Korea ($391.8 million).
With broad-based gains across major sectors and markets, export performance at the start of 2026 signaled continued resilience in the country’s external trade sector. — Ed: Corrie S. Narisma
