Philippine exports increased, Japan remains top destination

Philippine Statistics Authority said exported merchandise in July 2014 amounted to $5.461 billion, a 12.4 percent higher compared to $4.859 billion of July of 2013.

“The positive growth was mainly brought about by the increase of nine major commodities out of the top ten commodities for the month. These are: machinery and transport equipment; other mineral products; ignition wiring set and other wiring sets used in vehicles, aircrafts and ships; articles of apparel and clothing accessories; coconut oil; woodcrafts and furniture; other manufactures; and electronic products.”

“Total merchandise exports for January to July 2014 registered a 8.5 percent increase to $35.129 billion in 2014 from $32.374 billion in same period of 2013.”

It added that, “Japan including Okinawa remained as the country’s top destination of exports with revenue amounting to $1.212 billion, comprising 22.2 percent share to total exports for July 2014.”

Second was USA, followed by China, Hong Kong, Singapore, Germany, Thailand, South Korea, Taiwan and Netherlands.

Along with growth in exports, US-based UPS Inc. layouts plan to further expand its business in the Philippines. “Everything will be driven by demand. We will always look into investing here as we continue to upgrade our intra-Asian network and build our global portfolio,” Maurice Tim Gohoc of UPS SCS Philippines Inc. said.

“Investments will be mostly in capacity-building because of the expected economic growth.

“This means investments for additional trucks and personnel. We will be increasing our capacity if there’s a demand, and that’s what we’re looking at and studying right now.”