Finance Secretary Frederick Go said Thursday he expects the Bureau of Customs to reach its P1-trillion revenue collection target in 2026, supported by agency reforms and a shift in import policies.
The bureau has long sought to hit the 13-digit mark, but the goal has remained elusive. In 2025, revenue collections rose to P934.4 billion but fell short of the P958.7 billion full-year target on lower import volumes, a rice import ban and global commodity price fluctuations.
For 2026, the Development Budget Coordination Committee adjusted the revenue target to P1.003 trillion. Go told reporters during the agency’s 124th anniversary that he is confident the current year will be the turning point for the bureau.
“I am very confident that this will be the year that we will hit the P1-trillion target,” Go said in a speech to officials.
He said the success of the agency, which is the second-largest source of government revenue, is critical for funding national priority projects and maintaining fiscal management.
Customs Commissioner Ariel Nepomuceno said the target is achievable provided that economic assumptions remain stable. He identified agricultural products and petroleum as the primary drivers of growth, particularly following the lifting of the ban on rice imports.
“The economic assumptions are reasonable, doable and challenging but they are reasonable. As long as the economic assumptions will be there and not drastically change,” Nepomuceno said.
“We’re taking the challenge and that’s a good mission. That’s the least we can do to help the economy,” he said.
The agency has already shown early momentum in 2026. Data show the bureau exceeded its January target by P513 million after collecting P80.74 billion during the first month of the year.
Go said the “new leadership” driving these results refers to the entire bureau’s commitment to institutional reforms rather than a single individual.
He said the implementation of long-espoused changes would empower the government to fund its development agenda.
