Tuesday, February 11, 2014

Non-electronic goods drive exports to all-time high By Louella D. Desiderio (The Philippine Star) | Updated February 12, 2014



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Non-electronic goods drive exports to all-time high

By Louella D. Desiderio (The Philippine Star) | Updated February 12, 2014 - 12:00am
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MANILA, Philippines - Merchandise exports hit an all-time high in 2013 amid growth in shipments of non-electronic products.
Data from the Philippine Statistics Authority (PSA) released yesterday showed the country’s merchandiseexports reached $53.978 billion last year.

The National Economic and Development Authority (NEDA) said yesterday the 2013 exports result is the highest level reached by the country.
Compared to the previous record-high of $52.1 billion seen in 2012, exports last year went up by 3.6 percent.
While revenues from shipments of other commodities went up in 2013, receipts from exports of electronics products, the country’s top export however, declined 3.97 percent to $21.823 billion last year compared to 2012.
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For the month of December alone, exports grew 15.8 percent to $4.599 billion from the same month in 2012.
Compared to November’s $4.294 billion, December exports went up by seven percent.
“The positive growth was mainly brought by the increase of six commodities. These are other manufactures, electronic equipment and parts, ignition wiring set and other wiring sets used in vehicles, aircrafts and ships, electronic products, other minerals and woodcrafts and furniture,” the PSA said.
Export receipts from shipments of electronic products for the month of December alone climbed 26 percent to $1.905 billion from the previous year.
The PSA said Japan remained the top market for Philippine exports, accounting for a 23-percent share of total shipments in December.
Revenues from exports to Japan amounted to $1.059 billion, 48 percent higher than in the same month in 2012.
Sought for comment, Philippine Exporters Confederation Inc. president Sergio Ortiz-Luis Jr. said given the weak performance of electronic shipments in the earlier part of last year, the growth posted in export revenues in 2013 is satisfactory.
“This year, definitely it will still be positive. We are confident it will continue to grow but as to what extent it will grow, we still don’t know yet,” he said.
He said the group has yet to set its projection for merchandise exports growth this year.
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