Export gains continue but remain heavily concentrated in electronics

Shipments climb to $7.33B in February, with nearly 60% coming from tech products.

Export growth picked up in February, offering some support to the Philippines’ trade position, though gains continue to rely heavily on a narrow set of industries.

Exports reached $7.33 billion, up 8% from $6.79 billion a year earlier, according to the Philippine Statistics Authority (PSA). This is the highest monthly export value since October last year, signaling sustained demand for key Philippine goods.

For the first two months of the year, outbound shipments totaled $14.47 billion, rising 8.3% from $13.36 billion in the same period last year, pointing to steady momentum at the start of 2026.

Electronics remained the country’s top export, accounting for $4.23 billion or 57.7% of total shipments. Machinery and transport equipment followed at $415.22 million (5.7%), while gold contributed $337.55 million (4.6%).

Manufactured goods made up the bulk of exports at 81.3%, highlighting how much of the country’s trade performance depends on a concentrated production base.

While export growth is holding up, the heavy reliance on electronics leaves the sector exposed to shifts in global demand, limiting how broadly gains can spread across the economy.