THE Philippines could record its biggest export year in history in 2026 as surging electronics shipments lift merchandise trade, even as the peso weakened to a record low of P63.361 against the dollar on Wednesday.
For Trade Undersecretary and Board of Investments (BOI) Managing Head Ceferino S. Rodolfo, the country could exceed $100 billion in merchandise exports this year if the recent growth momentum continues, following August’s record monthly performance.
‘The best is still to come. August was historic: $9.11 billion, the highest monthly export number we have ever recorded. But I believe our September numbers can even be more than double August,’ Rodolfo said in a statement released by BOI.
For September exports to more than double August’s $9.11 billion, shipments would have to exceed $18.22 billion.
‘If these trends continue through December, 2026 will be the greatest export year in Philippine history. We have the opportunity to surpass $100 billion in merchandise exports for the first time,’ Rodolfo said.
Philippine merchandise exports reached a record $9.11 billion in August, up 27.8 percent from $7.13 billion a year earlier. Cumulative exports for January to August also hit a high of $64.04 billion, increasing 14.8 percent year on year.
According to the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi), gains were largely driven by electronics shipments, which benefit from global investment in artificial intelligence (AI), data centers, and digital infrastructure.
Electronic products generated $6.2 billion in August, accounting for 68.1 percent of total merchandise exports based on the reported figures. The sector also posted the largest year-on-year increase among commodity groups, adding $2.32 billion.
Seipi has raised its 2026 electronics-export growth forecast to around 10 percent, equivalent to $54 billion to $55 billion.
‘AI is creating an extraordinary demand cycle, and it goes far beyond the AI processor itself. AI needs power electronics, storage, connectivity, semiconductors, and enormous data-center infrastructure,’ Seipi President Danilo C. Lachica said in the same statement.
The industry group also credited the CREATE MORE Act with strengthening registered export enterprises’ confidence to invest in expanded capacity and improve competitiveness.
Meanwhile, the peso fell to P63.361 per dollar on Wednesday, 27.1 centavos weaker than its P63.09 close on Monday and Tuesday, data from the Bankers Association of the Philippines showed.
While the weaker currency raises the peso cost of imports, it may also improve the peso value of dollar earnings for exporters. The Bangko Sentral ng Pilipinas has identified peso depreciation as one factor supporting export growth, alongside higher shipment volumes.
Philippine Chamber of Commerce and Industry President Ferdinand A. Ferrer said exporters could benefit from the exchange rate, but the gains must translate into stronger productivity and greater technological capacity.
‘The important thing is to convert any exchange-rate advantage into something lasting: more investment, higher productivity and greater technological capability,’ Ferrer said.