The country’s Export Marketing Bureau (EMB), formerly the Bureau of Export Trade Promotion, has affirmed that the revenues of the country’s information technology – business process management (IT-BPM) sector is peaking and is on track to hit its USD25bn goal for this year. However, Senen M. Perlada, director of EMB, said that the Philippines should promote other service export revenue streams like education, engineering and tourism-related services, especially those that are of high value. Perlada made the call as he announced that service exports will continue to grow and hit about USD30bn this year, higher than the USD27bn estimate in 2015. The official figures for 2015 are yet to be released but Perlada said services exports are likely to have grown at a high single-digit level last year from 2014.
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