Wednesday, November 15, 2006 Japan top destination of products from Davao
JAPAN remains the top destination of export products from Davao Region for over three decades. Total export value in 2005 accounted to 42 percent.
Ivan Cortez, deputy head of the Davao City Investment and Promotion Center (DCIPC), said second ranked USA dropped to the fifth position since 2003 as China, the Middle East, and Korea have opened their doors to exports from Davao.
He said agricultural products dominated the list of exported commodities.
Recent DCIPC listing showed that exports to Japan was valued at US$245 .9 million followed by the Middle East $81.9 million, China, $58.011 million, Korea, $47.324 million, and USA $34.562 million.
Figures in 2005 showed that of the top five export commodities in international market, banana was valued at US$354.853 million, pineapple fresh/canned $45.724 million, rubber cap lamp, $ 37.867 million, activated carbon/charcoal/dust, $27.683 million, and banana chips, $20.458 million.
Cortez said the balance of trade of the city has always been positive for more than two decades where the average breakthrough period in 2001 to 2004 was US $488.5 million.
He however said the collective figure included products coming from nearby cities and municipalities utilizing only the port of Davao as the jump off point.
He is optimistic that the trend of exporting within Asia and the Pacific will expand and grow in the coming years.
"Local exporters need not look far in finding new markets and new niches for their products as nearer market means a more competitive product as this will cut shipping cost," Cortez said.
He said players exporting perishable products to nearer markets will also be at an advantage because it will lessen the possibilities of product rejections.
