The Philippines shattered export records in 2023, exceeding the $100 billion mark for the very first time.

This surge was fueled by a tech and tourism renaissance, with the IT-BPM industry and returning tourists leading the charge.

IBPAP president Jack Madrid declared this a historic achievement, hailing the IT-BPM sector for its pivotal role in propelling the Philippine economy.

According to Bianca Sykimte, director of the Department of Trade and Industry’s Export Marketing Bureau (DTI-EMB), the combined value of exported goods and services reached $103.6 billion in 2023, up 4.8% from the previous year.

Trade Secretary Fred Pascual emphasized the collaborative efforts between DTI and IBPAP, along with its partner associations, in supporting the growth of the IT-BPM industry. These partnerships ensure interventions and initiatives address the specific needs of industry players.

The future looks even brighter. IBPAP predicts continued growth, with industry revenue poised to hit a new high of $40 billion in 2024, a significant jump from $35.5 billion in 2023. Its projections even paint a picture of further expansion, reaching a potential $59 billion by 2028.