PH exports surge
22.5% in January 2017
March 10, 2017
MAKATI CITY – The
Department of Trade and Industry sees exports recovering in 2017 as
numbers surged in January 2017 with an increase of 22.5 percent with
total sales of $5.130 billion from $4.187 billion recorded value in
the same period last year according to the Philippine Statistics
Authority (PSA) report.
“We are positive that we
will continue to drive growth and recovery for the export sector as we
increase our efforts in promoting Philippine industries throughout the
year in various key markets. We take the consistent growth since the
last quarter of 2016 as a sign for positive outlook in the coming
months,” said DTI Industry Promotion Group Undersecretary Nora K.
Eight out of the top ten
Philippine exports reflected growth with articles of apparel and
clothing accessories with 270.1% increase as the highest gainer. Other
gainers include: coconut oil includes oil and refined (229.6%),
chemicals (104.7%), metal components (66.3%), electronic equipment and
parts (64.8%), other manufactures (58.8%), machinery and transport
equipment (27.9%), and electronic products (10.4%).
Electronic products remain
to be the top Philippine export comprising almost 46 percent of the
total Philippine exports with total receipts of $2.365 billion for
January. On the other hand, non-electronic goods which accounts for 54
percent of exports likewise increased by a hefty 35.19% for that same
In terms of commodity
groups, manufactured goods went up by 23.1 percent with total export
sales of $4.505 billion, accounting for 87.8 percent of the total
export receipts while exports from Total Agro-Based Products, with a
7.5 percent share to total exports in January 2017, amounted to
$386.46 million. It increased by 33.7 percent compared to $289.12
million in January 2016.
Japan is still the top
Philippine export destination with 17.3 percent share to total exports
while United States ranks second with 16.5 percent share.
By economic bloc, exports to
European Union member countries posted the highest growth with 82.5
percent increase from $491.34 million recorded in January 2016 to
$896.69 million for the same period in 2017.
“The increase in our
shipments to European Union member countries could be attributed to
the impact of EU GSP+ which continues to gain traction for our
exports. We wish to further build on this by integrating new strategic
measures in promoting the Philippines and our products and services,”
explained Undersecretary Terrado.
On the other hand, countries
in East Asia received most of Philippine exports accounting for 45.1
percent share to total exports valued at $2.315 billion. It increased
by 11.1 percent from $2.085 billion of January 2016.
Exports to ASEAN member
countries comprised 14.7 percent of the total exports in January 2017
and was valued at $751.54 million also posted growth which went up by