Thursday, August 17, 2006
Region 7 exports reach $2.3B from Jan.-June
Total exports in the region grew about 11.8 percent in the first six months of the year amounting to $2.36 billion compared to $2.1 billion in the same period last year, according to data compiled by the Department of Trade and Industry (DTI) 7.
The January to June figure is about $1.24 billion more than that of January to March, which was reported $1.12 billion.
Cebu exports comprise more than 95 percent of the total exports in the region.
“The trend is that we are growing more than a decade now. We have surpassed the 10 percent contribution in the national level,” said Ernesto Abines Jr., advocacy and information officer of the Confederation of Philippine Exporters Foundation (Cebu) Inc. (Philexport).
Electronics
DTI 7 data showed that from January to June this year, electronics remained to be the top export product of the region, accounting for 24.51 percent. This is followed by other electrical equipment with 11.58 percent, garments at 3.74 percent, other industrial goods at 3.67 percent, and furniture at 3.48 percent.
Other export goods include steel and metal products, vehicle machinery parts, marine products, fashion accessories, and gift, toys and house wares.
Abines said the entry of new exporters means demand for certain products has increased.
Shemberg, NEC Tele-com Software, Prime Crafts Inc., and Profood International Corp., where among the “new players” Abines mentioned.
Top exporter
Cebu Mitsumi Inc., though, remains to be the number one exporter since 2003, followed by Lexmark International and Pentax Cebu Philippines Corp.
Japan also remains to be the top market for exports in Central Visayas since 2003, cornering 21.20 percent of export goods.
This is followed by the United States with 9.28 percent, Hong Kong with 3.89 percent, the Netherlands with 2.65 percent, and China at 2.28 percent.
Abines also said the growth in the information technology sector should be “sustained” as it is the “most promising industry.”
To be able to do so, he urged the Commission on Higher Education (Ched) and the local government to “work together to improve our human resources.”
“Our support industries should be solid to retain investors,” he said.(MMM)
For Bisaya stories from Cebu. Click here. (August 16, 2006 issue)
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