In a news release, the Department of Trade and Industry (DTI), citing preliminary data from the Philippine Statistics Authority (PSA), said exports grew by 20.4% from US$6.78 billion in March last year.

The March figure marked the strongest monthly export performance since the PSA’s International Merchandise Trade Statistics series began in 1991.

From January to March 2026, total exports reached US$22.70 billion, up by 12.7% from US$20.14 billion in the same period last year, representing the second-highest quarterly growth performance in more than four years.

DTI Secretary Cristina A. Roque said the country’s push toward higher-value products and market diversification helped exporters remain resilient amid evolving global conditions.

“March’s export performance demonstrates that the government’s drive towards higher value products in high-performing industries like electronics while expanding market opportunities with targeted and strategic trade and investment promotion initiatives are helping exporters adapt to evolving global conditions and translating to export gains,” Secretary Roque said.

Electronic products remained the country’s top export, generating US$4.82 billion and accounting for 59% of total exports.

Industry sources said sustained global demand for semiconductor components used in artificial intelligence, Internet of Things, and electric vehicles continued to drive growth in the electronics sector, reinforcing the Philippines’ role in global electronics value chains, particularly in assembly, testing, and packaging services.

The Semiconductor and Electronics Industries in the Philippines Foundation Inc. is projecting the industry to grow by around 5% in 2026 and surpass US$50 billion in exports despite global trade uncertainties and geopolitical tensions.

The United States remained the Philippines’ largest export market at US$1.40 billion, followed by Hong Kong at US$1.30 billion and Japan at US$962.41 million. China retained its position as the fourth-largest export destination with US$956.77 million in shipments.

Non-electronic exports showed mixed results, with machinery and transport equipment, mineral products, and gold posting gains due to sustained industrial demand.

However, some agricultural exporters began feeling the impact of the Middle East conflict, particularly through shipping disruptions.

Industry stakeholders reported declines in banana exports to the Middle East due to maritime disruptions linked to geopolitical tensions in the region.

Processed tropical fruits and coconut-based products continued to see generally stable demand, although some exporters cited raw material and supply-side challenges affecting selected products such as calamansi and coconut oil.