Philippine merchandise exports rose 7.6 percent to $7.87 billion in May 2026 from $7.32 billion a year earlier, driven by strong demand for electronics, machinery, mineral products, and key agricultural exports, according to preliminary data from the Philippine Statistics Authority.
Electronics, machinery, and transport equipment, mineral products, gold, coconut oil, and fresh bananas all posted double-digit growth from May 2025, reflecting sustained global demand for Philippine-manufactured and agricultural goods.
Strong performance in first five months
From January to May 2026, merchandise exports reached $37.87 billion, up 10.6 percent from $34.25 billion during the same period last year. Electronic products remained the country's top export, accounting for more than half of total merchandise exports. Shipments reached $20.83 billion in the first five months of the year, up 17.5 percent from $17.73 billion in 2025.
Semiconductors continued to lead the sector's growth, rising 19.1 percent to $15.65 billion and reinforcing the Philippines' role in the global semiconductor supply chain.
Non-electronics sectors also surge
Several non-electronics sectors also recorded robust growth. Machinery and transport equipment exports jumped 61.3 percent, while gold exports surged 93.6 percent. Other mineral products increased 25.6 percent, and fresh banana exports grew 18.2 percent, signaling broader gains across the country's export industries.
The food sector also maintained steady growth as demand remained strong for Philippine beverages, processed food, dairy products, snacks, and other value-added products. Manufacturers expanded their presence in regional and international markets through product innovation and export partnerships.
Coconut industry contributes
The coconut industry also contributed to export growth. Coconut oil exports rose 10.3 percent to $1.32 billion from January to May, supported by demand from the Netherlands, Malaysia, and the United States. Demand for other coconut-based products also remained stable, reinforcing the Philippines' position as a reliable supplier of higher-value coconut products.
Top export markets
The United States remained the Philippines' largest export market during the period, with $6.68 billion, accounting for 17.6 percent of total exports. It was followed by Hong Kong with $5.74 billion, Japan with $4.79 billion, the People's Republic of China with $4.17 billion, and Singapore with $1.70 billion.
DTI pushes wider market access
Cristina A. Roque, secretary of the Department of Trade and Industry, said the sustained export growth reflects the competitiveness of Philippine exporters despite changing global market conditions.
"The sustained growth of Philippine merchandise exports reflects the strength and competitiveness of our exporters. To ensure this upward momentum, the DTI is championing a whole-of-government approach to aggressively push and drive our exports through strategic, targeted support programs in partnership with both the public and private sectors. Moving forward, we are ensuring a sharper focus on accelerating the growth of our agricultural sector, ensuring that our high-value agri-products and innovative goods are ready to compete on the global stage," Roque said.
The DTI, together with other government agencies and partner institutions, continues to implement trade promotion and market development programs to help exporters expand their reach. In June, the department supported the country's first commercial shipment of fresh Philippine mangoes to Canada, opening a new export market for one of the country's flagship agricultural products. The DTI also continues to conduct trade promotion activities, develop policies, and provide capacity-building programs to strengthen Philippine exporters.
To sustain the momentum, the department will host the Exporters' Fair from July 22 to 26 at SM Megatrade Hall, where exporters will showcase Philippine export and export-ready products across various industries. The DTI said it will continue working with government agencies and industry stakeholders to expand market opportunities, help Filipino exporters enter new markets, and strengthen their global presence.
