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Thursday, August 28, 2003
S. Mindanao rakes in $288.5M in exports
By Christie Enriquez-Uayan
IF PESO depreciation has badly hurt the country's import sector, the contrary is true with the export sector.
Because of the high value of the US dollar compared to the Philippine peso, exporters are taking advantage of the situation by jacking up the volume of supplies sold to the other nations, Bureau of Customs (BOC) 11 Chief, Fidel Camanag said.
For the first semester this year, BOC 11 reported that the region shipped out a total of $288.5 million worth of Philippine products abroad.
"We encourage our businessmen to export right now because of the current situation," Camanag told Sun.Star in a recent interview, adding that the exporters right now are better off than the importers with the current exchange rate.
The port of Davao City posted the highest record of shipped out goods pegged at $284.54 million, as some of the products from other neighboring cities and provinces bound overseas are sent here.
Meanwhile, some $9.5 million worth of Philippine products were shipped out of Davao del Norte.
Davao del Sur posted a $5.12 million dollar income from exported products while Davao Oriental sent off a total of $3.98 million worth of products of the same period.
Based on additional reports furnished Sun.Star by the Department of Trade and Industry (DTI), the top ten exports of the region include fresh banana, fresh pineapple, activated carbon, rubber, banana chips, coconut and crude oil, dessicated coconut, asparagus, cement and papaya.
Most of the product's destination areas are the United States and the Japanese markets.
Coconut or crude oil, rubber, and banana chips are bound for Europe, Malaysia and Hong Kong, respectively. CEU
(August 28, 2003 issue)
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