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Neda: PH export performance best in Asia

But rebound in shipments said to be uncertain

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Shipping containers of Philippine products for export sit stacked along the docks of the international container port in Manila on Sept. 11, 2012. Philippine merchandise exports topped those of other Asian countries in the first 11 months of 2012, the National Economic and Development Authority said Thursday, Jan. 10, 2013. AFP PHOTO/JAY DIRECTO

Philippine merchandise exports topped those of other Asian countries in the first 11 months of 2012, the National Economic and Development Authority (Neda) said Thursday.

But private economists believe a strong rebound in outbound shipments may still be a long way off.

Merchandise exports earnings in November grew 5.5 percent to $3.551 billion, from the $3.366 billion seen the previous year. This brought year-to-date exports to $48.026 billion—7 percent up from the $44.898 billion recorded in the same period of 2011, the National Statistics Office said.

The growth was due to higher value in shipments of such commodities as metal components, woodcraft and furniture, electronic products, cathodes, refined copper and ignition wiring sets, and other parts used in manufacturing vehicles, aircraft and ships.

On a monthly basis, exports contracted by 19.4 percent from the $4.408 billion posted in October 2012.

“I expect similar (growth) trends in December, but I think a complete rebound isn’t forthcoming because the [economies of] US and Europe have not recovered,” Cid L. Terosa of the University of Asia and the Pacific said via text message.

For Benjamin E. Diokno of the UP School of Economics, the growth in November exports was “lackluster.”

Diokno said the outlook for Philippine exports continues to be “gloomy” due to three factors: a world economy that remains weak, an appreciating peso, and heavy reliance on electronic products.

“Exports of electronic products contracted by 5.19 year-to-date. This problem could be both transitory and structural. A strong recovery in December is unlikely,” Diokno said via e-mail.

Electronics accounted for 48.8 percent of total exports revenue last November, earning $1.734 billion—13.3 percent up from the $1.523 billion reported a year ago. Semiconductors was the top earner in the electronics sector with $1.402 billion in receipts—a 15.5-percent growth from the $1.213 billion seen in November 2011. But on a monthly basis, electronic products, as well as semiconductors, dropped 8.8 percent and 10.4 percent, respectively.

The next-best performers were woodcraft and furniture ($271.32 million, 56 percent up from $173.9 million), apparel and clothing accessories ($113.7 million, 13.1 percent down from $130.76 million), and electrical wiring harness for motor vehicles ($109.7 million, 6.2 percent up from $103.31 million).

Metal components excluding brakes grew the fastest among the country’s top exports with shipments worth $129.05 million—163.5 percent up from $48.97 million.

Receipts from the top 10 exports reached $2.557 billion, accounting for 72 percent of the total.

Japan was the top destination of Philippine exports accounting for 20.8-percent share of the total with receipts worth $740.21 million.

The United States followed with $458.37 million in receipts, while Hong Kong received shipments worth $373.81 million.


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Tags: Business , economy , Exports , outbound shipments , Philippines

  • akoyisangpinoy

    Parang tarantado naitong gobiyerno ni PNOY, kahit ano ang sabihin nyo ang halaga ng export natin hindi aabot sa export ng Vietnam, kaya tigilan nyo na ang pagyayabang.

    • FORTHE GOOD

      Maliwanag na ikaw ang tarantado.

      Go PNoy!!

  • rodben

    PHIL. export best performance in Asia. Sa mga International Airport na narating ko most of Asean country including Pakistan and Bangladesh have a products displayed in it but I’ve not seen Philippine products. Maybe NEDA is pointing LABOR EXPORT because everyday more than 10 thousand Filipino Workers are leaving to work abroad.

  • parefrank

    to delpillar
    Can you tell where RP produces tankers? Because it has not even one own,
    what comes in are those of the oil companies and not one of them is made
    in RP. The biggest ships that are made i RP are some fastcrafs, usually
    all is foreign ships which are not seaworthy anymore at their origin
    country. Where should that giant shipyards be to construct tankers which
    usually have at least 50000 BRT and up to over 100000 BRT size?

    • delpillar

      Google “HHIC Phil” for ships made by Hanjin in SUbic.

      Google this line below for shipsmade by Tsuneishi Shipyard in Cebu.

      “Tsuneishi Heavy Industries, (Cebu) Inc. (THICI)”



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