PH exports continue to show strong gains—DTI

Exports of coconut and other food products grew by 104 percent as other Philippine products continued to show strong export potential based on the 2010 figures, the Department of Trade and Industry (DTI) said.

Trade and Industry Secretary Gregory L. Domingo said the products the products that achieved positive growth rates also include electronics (45 percent), wearables (43 percent), motor parts (24 percent), minerals (17 percent), and BPO services (10 percent).

Domingo said exporters should take advantage of this upward momentum.

“Developments in existing and new export businesses give us a broader view on how we can strengthen our international competitiveness,” he said.

In terms of new business, however, product categories that carry further growth potential are tourism, ship-building, solar panels, and a number of resource-based products, such as abaca among others.

“It is also important to look into product or service export clusters that will become an important source of our future export earnings and diversifying exports,” he said.

Data from DTI’s Bureau of Export Trade Promotion showed that 60 percent of Philippine merchandise exports went to North and Southeast Asia over the past five years. Of these, 23 percent went to China and 20 percent to Japan and Korea.

“Export growth trends depict dynamic shifts in the global supply chain and challenge us to craft our strategies with these considerations in mind,” Domingo said.

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