TMCnet News
Department of Trade and Industry - PHL to meet and possibly exceed 2014 export target(ENP Newswire Via Acquire Media NewsEdge) ENP Newswire - 22 October 2014 Release date- 21102014 - With the sustained growth momentum of the Philippines' merchandise exports during the first eight months of the year, the Department of Trade and Industry is upbeat to meet the country's export target for this year and possibly exceed it. 'Given this development in the country's export performance, we are pleased that our promotion efforts here and abroad have yielded positive results as reflected the growth momentum sustained by the electronics and the non-electronics sectors,' DTI-Industry Promotions Group (IPG) Ponciano C. Manalo Jr. said. Based on a report from Philippine Statistics Authority (PSA), the country's merchandise exports increased by 9.2% to USD 40.75B from the USD 37.33B reported from January to August last year. The electronics sector rose by 5.17% to USD 16.28B from USD 15.28B while the non-electronics sector grew by 12% to USD 24.47B from USD 21.85B. In the first eight months of 2014, the Philippines' export growth of 9.2% was second to Vietnam's 14.9%, according to the National Economic and Development Authority (NEDA). Manalo noted that the growth of the country's exports also prompted the Semiconductor and Electronics Industries of the Philippines Inc. (SEIPI), which tracks the export performance of the country's electronics and semiconductor industries, to raise their growth projection to 5-8% from their initial 5-% target due to strong demand on their products. 'While we now see the gains from our promotion of non-electronic products, particularly our participation in international trade fairs and outbound and inbound trade missions, we will continue to actively participate and conduct these activities to further contribute to our export targets this year,' Manalo said. According to PSA, non-electronic products that posted significant double-digit year-to-date growths are travel goods and handbags (53.8%), mineral products (29.2%), textile yarns and fabrics (33.6%), furniture and fixtures (44.1%), machinery and transport (42.5%), fruits and vegetables (27%), and other agro products (23%). Manalo noted that in the first half of the year, it already participated in 11 recognized international trade fairs to promote the Philippines as a viable source of innovative and quality products. 'This October, we will once again hold the Manila FAME, Asia's design and lifestyle event in October, following its March edition this year. Through trade shows like the Manila FAME, we provide opportunities for our small and medium enterprises to showcase their products to the global market,' Manalo said. He also noted that aside from fairs, DTI also organized inbound and outbound business matching activities to introduce our export products to foreign markets. As of August 2014, the DTI conducted 32 inbound business-matching activities and two outbound business matching activities. It intends to conduct three more outbound business-matching activities in France, United Arab Emirates (UAE), and Japan within the year. Contact: Department of Trade and Industry 361 Trade and Industry Building Sen. Gil J. Puyat Avenue Makati City 1200 Philippines Tel: (+632) 751.0384 Fax: (+632) 895.6487 (c) 2014 Electronic News Publishing - |