MANILA: The Philippines will likely miss its export growth target of 8-10 per cent this year after shipments contracted in the first five months of 2015, its trade secretary said on Wednesday.
Exports in May fell 17.4 per cent from a year earlier, the steepest drop since September 2011, with total shipments in the first five months falling 5 per cent.
“My expectation is there will be growth but it is hard to say what will be the growth,” he said, adding that one export item that showed slower demand this year was prefabricated housing materials to Japan.
