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Tuesday, October 12, 2004
January-July exports in C. Visayas up 26.9%
EXPORTS in Central Visayas went up 26.9 percent to $2.03 billion for the first seven months of the year from $1.6 billion in the same period a year ago.
Central Visayas or Region 7 comprises Bohol, Cebu, Negros Oriental and Siquijor.
Electronics still topped the list of the region’s export winners, followed by other industrial goods, electrical equipment, furniture and marine products, according to the Department of Trade and Industry (DTI) 7 in a report.
Japan also remained the region’s top export market, cornering some 21 percent of the total exports in Central Visayas. Cebu Mitsumi also remained the region’s top exporter.
While furniture exports went down from being the region’s third largest export, marine products, which include raw seaweeds and carrageenan (processed seaweeds), are showing signs of improvement this year, accounting for 1.94 percent of the region’s exports for the period. The sector now ranks fifth among the region’s export winners.
But Seaweed Industry Association of the Philippines president Benson Dakay earlier said the country’s seaweed processing industry could have exported more carrageenan (processed seaweed) if not for the shortage of raw seaweeds in the country.
He told a press conference that the global demand for carrageenan is increasing but that the industry has not maximized its growth potential.
Regarding overall exports, the DTI report said Japan has been Central Visayas’s top export market since 2003, overtaking the United States, which has been importing 25 percent on the average of the region’s exports since 2000.
The slowing down of the US economy due to the Sept. 11, 2001 terrorist attacks on the US decreased that country’s importation of products from the region, as well as from other areas in the Philippines, DTI 7 Regional Director Aster Caberte earlier said.
The region’s other top export markets are Hong Kong, Australia, Belgium, China, Hungary, Netherlands, the United Kingdom and Thailand.
For the first time since 2000, Thailand made it to the region’s top 10 export markets.
The region’s top five exporters are economic zone locators Cebu Mitsumi Inc., Pentax Cebu Philippines Corp., Lex-mark International Philippines Inc., Tsuneishi Heavy Industries and Teradyne Philippines Ltd. (JBN)
(October 12, 2004 issue)
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