The Philippines has consistently increased the share of exports to the European Union through the Generalized System of Preferences Plus to €1.9 billion in 2018.
“For 2018, the percentage share of GSP+ exports to total Philippine exports to the EU was 26 percent. Utilization, on the other hand, is at 73.2 percent,” said Trade Secretary Ramon Lopez.
Used preferences, he said, was still lower compared to the total GSP+ eligible exports €2.6 billion.
The Philippines continues to enjoy zero tariff benefits from the EU under the Generalized Scheme of Preferences, or GSP+.
The GSP+ coverage, implemented in 2014, offers duty-free privileges in 6,274 product tariff lines from the Philippines.
The EU Commission’s 2018 mid-term GSP evaluation showed the Philippines had the second most diversified export portfolio under EU-GSP+ with 3,047 tariff lines covered under EU-GSP+ from 2014-2016.
The same report also indicated that the Philippines had an average EU-GSP+ utilization rate of 68.9 percent from 2014 to 2016.