PH exports yield
growth in December 2016
By DTI-IPG
February 15, 2017
MAKATI CITY – The
Department of Trade and Industry sees sustained growth for exports in
2017 as Philippine exported goods yielded a 4.5% growth in December
2016 with a total of $4.71 billion in export revenues from $4.660
billion in the same period in 2015.
"As we implement new
strategies in diversifying our markets and upscaling our products and
services amidst the slowdown in global trade, we hope that our exports
will continue to improve in the next quarters” said DTI Industry
Promotion Group Undersecretary Nora K. Terrado.
In a report released by
Philippine Statistics Authority (PSA), increase in the top five (5)
major export commodities contributed to the growth which include
coconut oil (crude and refined; 146.5%), other mineral products
(104.5%), metal components (66.4%), chemicals (42.1%), and other
manufactures (35.8%).
While electronic products
experienced a 2.8% decrease in total receipts as compared to 2015
data, these remained to be the top export product of the country with
total receipts of $2.451 billion, accounting for 50.3% of the total
exports revenue in December 2016. Other Manufactures ranked second
with 7.2% share to the total export receipts. It recorded an increase
of 35.8% from December 2015 value of $257.32 million. It is followed
by Machinery and Transport Equipment with export revenue of $227.05
million, Woodcrafts and Furniture with total sales of $202.14 million,
and Ignition Wiring Set and Other Wiring Sets Used in Vehicles,
Aircraft and Ships with $153.72 million export sales.
“Notable 67.5% increase in
the exports of our Agro-Based Products in December 2016 is a good
indication that our agrisector will be up in the coming months. We
hope to see more of this trend to fully boost our exports,” added DTI
Export Marketing Bureau Director Senen M. Perlada.
Agro-based products shared
7.7 % of the total exports in December 2016 which amounted to $377.30
million.
Total exported goods to East
Asia increased compared to other top Philippine exports destination
such as ASEAN member countries, USA, and European Union member
countries. Merchandise exports to East Asia increased by 9.4% with
total revenue of $2.556 billion million from $2.337 billion recorded
in the same month in 2015. Japan remained to be the country’s top
export destination, with revenue amounting to $946.28 million,
comprising 19.4 percent share of the total exports.