PHILIPPINE Statistics Authority (PSA) in the Cordillera reported a decline of exports in November 2018.
PSA-Cordillera added the free on board (FOB) value of export goods shows $59,242,211, a drastic decrease by 53.8 percent compared to the same period in the previous year of $128,109,113.
In November last year, Cordillera’s total volume of production was recorded at 178,184 kilograms (kgs) as export decline by 2.1 percent compared to the total volume of 181,646 kgs. exported in November 2017.
By commodity, equipment, electrical machinery, sound recorders, television image, sound recorders and parts were largely produced equivalent to 43.2 percent of export goods valued at more than US $25M for the month of November.
Second in the top imported commodities were aircraft, spacecraft, and parts. This was followed by commodities, natural or culture pearls, precious stones, metals.
Making it in the top 10 exported commodities were optical, photographic, cinematographic, medical or surgical instruments and apparatus, articles of leather, travel goods, plastics, aluminum, tools, cutlery and articles of iron or steel.
The countries were the region exported the most in November was United States of America with 23.8% equivalent to total exports value of $14,128,012. Followed by Netherlands (15.9%), Singapore (13.1%), France (11.8%), Japan (8.8%), China (7.8%), Taiwan (3.7%), Germany (3.5%),UK and Northern Ireland (3.2%), and Malaysia (2.5%).