ASEAN KEY DESTINATIONS
Philippine exports return to pre-crisis level
At the end of October, exports hit $43.047 billion, or 37.1-percent higher than the $31.397 billion in the same 10-month period last year, as electronics shipments climbed to $26.490 billion-a 46-percent jump year-on-year.
The country's exports, about two-thirds of which were semiconductor and electronics, skidded last year amid the global recession.
The sector's rebound was boosted by the strong growth of shipments to Asian markets, which are recovering faster than the Philippines' traditional trading partners such as European Union member-states and the U.S.
"Exports to the United States and Europe continued to decline until September this year, an indication that the economies of these countries have not yet recovered.
In contrast, sales to the Asean trade bloc have reached 30 percent. And for the whole of East Asia, Philippine exports already represent close to half of all exports at 41 percent," the industry official said.
Exporters should tap the huge prospects in China, India, Australia, New Zealand and the Middle East, officials say.
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