CORDILLERA’S export industry continues to decline posting a $118,358,552 worth of goods reported by the Philippine Statistics Authority.
The PSA in its latest report revealed export goods decreased by 2.14 percent from the recorded $120,948,251 in July and 6.6 percent lower than the $126,759,844 exports in June this year.
The region only produced 200,207 kg of export goods for August 2016, with a decrease of 42.19 percent from the recorded 346,376 kg production last July.
Among the commodities, machinery, appliances, electrical equipments, sound recorders and accessories continue to rank first with a share of 76.5 percent in export sales and amounting to $90,566,760 in receipts.
These goods shared 80.5 percent in the regional exports in July which is equivalent to $97,420,696.
Vehicles, aircrafts, vessels and associated transport equipment came in next with $26,492,798 comprising 22.4 percent in export sales for August, and 18.3 percent during the previous month.
Works of art, collectors’ pieces and antiques ranked third contributing 0.4 percent in export sales equivalent to $484,426 for August compared to the $3,221 the previous month.
Textile and textile articles contributed 0.4 percent in export sales valued at $474,286 for August as compared to the 0.4 percent share in July 2016 which is equal to $485,834.
Raw hide and skin, leather, fur skin, saddlery and harnesses, travel goods, handbags and similar containers, articles of animal gut (other than silkworm gut) contributed 0.1 percent in export sales amounting to $150,283 for August 2016.
These goods were ranked third in the previous month with a 0.5% share equivalent to $565,891.
Plastics, rubber and similar items had the least share in export sales amounting to only $35,877 for August 2016, as compared to the goods’ value of $139,451 in July 2016.
Singapore was the main destination with 46.4 percent of export goods with the total receipt of $41,986,717 followed by The Netherlands at 33.3 percent with export sales value of $30,181,924.
Other countries that bought machineries and mechanical appliances from the region were the United States of America ($5,264,057), Taiwan ($3,408,811), Hong Kong ($3,092,280), People’s Republic of China ($3,045,457), Japan ($2,281,327), Thailand ($686,543), Malaysia ($521,965), UK of Great Britain and N. Ireland ($28,509), Mexico ($25,511), Germany ($11,219), Poland ($9,928), India ($5,891), and Republic of Korea ($538).
The region also exported goods to countries such as Australia, Brazil, Canada, India, Ireland, Israel, Italy, Japan, Mexico, Poland, Qatar, Republic of Korea, Romania, Saudi Arabia, Switzerland, United Arab Emirates and Vietnam.
Exports to these countries registered total sales of $1,754,168 accounting to 1.6 percent of the region’s total exports receipts. (Roderick Osis)