PH exports expand by 11%
CITY OF SAN FERNANDO— The Department of Trade and Industry (DTI) through its Export Marketing Bureau sees solid growth for Philippine merchandise exports this year as it continues to expand by 11.68 percent with total sales of $53.11 billion for the period January-October 2017 compared to the same period last year with total $47.55 billion of export sales.
For ten straight months, the value of merchandise exports in the review period was shared almost evenly by electronics and non-electronics at 50.78 percent and 49.22 percent, respectively.
In a preliminary report from the Philippine Statistics Authority (PSA), Year-On-Year (YOY) growth for October 2017 showed the country’s total export sales increased by 6.6 percent from $5.04 billion last year to $5.37 billion this year supported by the double-digit growths of six out of top ten major Philippine exports including fresh bananas.
Six gainers for October 2017 exports sales include gold (297 percent), electronic equipment and parts (43.3 percent), metal components (21.9 percent), fresh bananas (20.8 percent), other mineral products (19.6 percent), and electronic products (13.8 percent).
Receipts for top ten major exports for October 2017 reached $4.25 billion with a total share of 79.2 percent of the total export receipts. Electronic products led the top ten commodities with total export sales of $2.86 billion, accounting for 53.2 percent of the total exports revenue for the month of October 2017.
“Export sector is a big employment generator and we welcome these positive developments as this will translate to more job opportunities,” said DTI Undersecretary for Trade and Investments Promotion Group Nora K. Terrado.
Shiela Gie Bongcayao, Jeseca Agustin, Joilyn Mutya Suson, Pamela Mae Mallari, Stephanie Reyes and Jhona Mica Pinlac, Senior High School students from St. Nicolas College of Business and Technology in the City of San Fernando show copies of Sun.Star Pampanga with their work in it after completing their recent immersion program.