Philippine exports of ‘strategic’ goods surged to US$4.5bil in 2021

MANILA (Philippine Daily Inquirer/Asia News Network): The Philippines last year exported US$4.5 billion worth of goods that could be used by the military, shipped mostly to the United States, a huge jump from only $3.6 million in 2020, when the Department of Trade and Industry (DTI) started authorising these exports under a 2015 law.

These are called “strategic goods,” or products that, for security reasons or due to international agreements, are considered to be of such military importance that their export is either prohibited altogether or subject to specific conditions, according to the Strategic Trade Management Act (STMA).