Philippines leads SEA in December 2013 Exports
by FFE PH News Staff
For the seventh consecutive month the National Economic Development Authority (NEDA) registered an upward trend in the Philippines’ export sector, beating other countries in the East and Southeast Asian regions.
For December 2013, the export sector grew by 15.8%, higher than Vietnam (12.6%), Indonesia (8.5%), Singapore (5.6%), China (4.3%), Hong Kong (-3%) and Japan (-6.2%). Economic Planning secretary Arsenio M Balisacan noted that ‘The positive exports performance of the Philippines — and even those of the majority of trade-oriented economies in the East and Southeast Asia — was reflective of the recovery of major economies such as the United States of America (USA), European Union (EU), and Japan.’
Sale of electronic products has helped boost export rates for December. Agro-based products, meanwhile, showed lower performance ratings for the same period. Balisacan explained that the agricultural damage brought by typhoon Yolanda had decreased the number of coconut products for export.
He said ‘The combined destructions in plantations and milling facilities tightened the coconut supply and this resulted in large declines in the volume shipments of coconut products such as desiccated coconut, copra meal or cake and coconut oil.’
The Philippines’ top export markets for December were Japan (23% share), China (16.2%) and America (12.4%). Other major markets on that period were Hong Kong (8.8%) and Singapore (7%).
Meanwhile, the Department of Agriculture has conducted dialogues with local farmers in typhoon Yolanda-damaged areas to identify their priority needs to jumpstart agriculture in the region. Balisacan last month vowed to create measures that would make the agriculture sector more ‘disaster-proof.’
To do this, NEDA partnered with Consultative Group on International Agricultural Research (CGIAR) for the project ‘Addressing the Impacts of Climate Change in the Philippine Agriculture Sector’ that aims to create data models on the impact of climate change to agriculture.