NEWS re PH among least affected on global exports decline

DTI Central Visayas Office
Release Date: March 17, 2016
Reference:  DTI-Region 7
            dti_7@yahoo.com /  dticentralvisayas@gmail.com
            http://kalampusan.weebly.com/

PH among least affected on global exports decline 

Latest preliminary statistics from the Philippine Statistics Authority (PSA) showed that Philippine merchandise exports reached $4.19 billion in January 2016, representing a decrease of 3.9 percent from the $4.36 billion posted in January 2015.

While the figure is still a decline, it represents a slight improvement from the 5.8-percent decrease in export sales posted for the whole of 2015, raising hopes that it may signal the beginning of a recovery in merchandise exports. 

The PSA also said the electronics sector remained a bright spot as exports from this sector in January registered $2.14 billion, a 5-percent increase over the January 2015 figure of $2.04 billion and a 51.07-percent share of overall exports for the month.  The January 2015 share of electronics in total exports represented 46.79 percent of total exports.

"The continued post moderate growth of the electronics sector is a good sign considering that it still makes up more than half of PH exports," said Export Marketing Bureau (EMB) Director Senen M. Perlada.

He added that the global situation of exports appears dire as the export figures of many countries declined by double digits in January 2016.      

"Compared with the double-digit losses registered by other selected export-oriented economies in Asia and elsewhere, the decline of Philippine exports in January 2016 is a mere 3.9 percent, lower only to Vietnam's 1-percent decline and Malaysia's 2.8-percent decrease," he said.

Perlada said in Asia, Thailand's exports went down by 8.9 percent, Singapore by 9.9 percent, China by 11.2 percent, South Korea by 12.2 percent, Japan by 12.9 percent, Taiwan by 13 percent, Indonesia by 16.7 percent, and Hong Kong SAR by 23.4 percent.

He added that while it is only the first month of the year, "the Department of Trade and Industry [DTI] takes a longer-term perspective and will leverage on the recently approved Philippine Export Development Plan [PEDP] to implement our strategies full speed ahead because the plan already factored in what was observed as a precarious global economic situation."

"In the face of weak global demand, the DTI will work with the private sector in pursuing and even intensifying promotions programs, policy-reforms advocacy, and capacity-building programs to prepare our exporters for intensified competition. In a period of shrinking market demand, pursuing markets and continued presence through promotions programs are imperative. The DTI will continue to prepare exporters for the time when markets shall have recovered to enable them to pursue more opportunities," he said.

"The effects to our exports by sluggish global economies are challenges that we must face so that we have to work harder and strengthen the partnership between the government and the export sector," he added.

The United States, Japan, and China – among the world's strongest economies - posted bigger losses in January 2016 than the Philippines, he pointed out.

The Export Marketing Bureau (EMB) is the export trade promotion agency of the DTI Trade and Investment Promotions Group (DTI-TIPG).  The agency provides frontline assistance, information, specialized consultancy services, business matching and other export development and promotion services to all exporters -both potential and established - and the general public. As the lead agency tasked to develop, promote, and expand export trade, the EMB seeks to enable Philippine exporters to compete with world-class products and services.

For more information on the services of the DTI, log-on to http://www.dti.gov.ph