TRADE Secretary Cristina Roque added her voice to officials welcoming the World Bank’s upgrading the Philippines to upper-middle-income status, saying it reflects the Marcos administration’s stronger economic performance, driven by an aggressive export surge and rising investor confidence.
Roque said the transition is anchored on robust results from the Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA) over the past year, with the BOI approving P1.56 trillion in investments and PEZA approving P260.89 billion across 314 new and expansion projects.
She also credited Philippine exports in 2025, which jumped 15.2 percent to a historic high of $84.41 billion from $73.27 billion in 2024.
The momentum has carried on this year with consecutive monthly gains: 7.9 percent ($7.09 billion) in January; 8 percent ($6.79 billion) in February; 20.4 percent ($8.17 billion) in March; 6.3 percent ($7.21 billion) in April; and 7.6 percent ($7.87 billion) in May.
“This milestone is proof of the strong leadership of President Ferdinand R. Marcos Jr. in pushing for economic reforms that enhance the country’s global competitiveness and resilience,” said Roque, who also chairs BOI and PEZA.
The administration’s pursuit of 23 free trade agreements and other international partnerships also contributed to the overall performance, Roque said.
“By systematically lowering trade barriers and broadening market access, this extensive network of trade pacts has permanently enhanced the global price competitiveness of Filipino exporters, positioning President Marcos to go down in history with the most free trade agreements sealed,” she noted.
“Serving as the Asean Chair[man] for 2026 gives the Philippines a stage to showcase this economic progress, attract high-value capital and ensure that our economic growth translates into sustainable, high-quality jobs for all Filipinos,” she added.
The World Bank reclassified the Philippines as an upper-middle-income country (UMIC) after its gross national income per capita reached $4,850 in 2025, according to Department of Economy, Planning and Development estimates — above the $4,636 threshold for the category.
The Philippines was among five economies — including Jordan, Micronesia, Sri Lanka and Vietnam — that moved from lower-middle to upper-middle-income status this year, according to World Bank standards.