Recent preliminary report from the Philippine Statistics Authority (PSA) showed that Philippine merchandise export performance continued on a positive trajectory increasing by 10.79% in the first 11 months (January to November) of 2017 compared to the same period in 2016, an analysis confirmed by the Department of Trade and Industry (DTI).
From January to November 2017, the value of merchandise exports was shared almost evenly by electronics and non-electronics with 51.38% and 48.62%, respectively.
Exports of Philippine electronic products increased remarkably by 10.84% in the first 11 months of 2017. This was achieved on the back of the robust performance of six out of the nine subsectors of the industry which contributed 97.95% share in the cumulative total value of the industry.
Meanwhile, non-electronic goods also increased significantly by 10.73% in the first 11 months of 2017, backed by positive growth of a wide range of sectors in the non-electronics category. Topping the list were Forest Products with triple-digit growth of 560.90%. Other contributing commodities exhibited double-digit increases including mineral products (76.12%), sugar and products (47.77%), footwear (47.43%), coconut products (37.61%), non-metallic mineral manufactures (32.17%), and furniture and fixtures (26.27%). Exports of garments also increased by 3.00%, while Travel Goods and Handbags at 1.53%.
“The increase of exports sales for some non-electronic goods this year may be viewed as a result of the sector-focused intervention included in the 2015-2017 Philippine Export Development Plan (PEDP),” said DTI Trade and Investments Promotion Group Undersecretary Nora K. Terrado.