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28 January 2010

Philippines: Export sector rebound seen in 2010

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Philippine export industry leaders are bullish that the export industry would stage a recovery this year, the Manila Bulletin reported.

Philexport President Sergio Ortiz-Luis told a recent meeting of exporters that “the year of the tiger is the year of recovery for our sector.”

“Recovery from a very difficult crisis we did not even create is a difficult climb as we have experienced during the trade slump of 2001. The first step is for us to have faith in ourselves that we can pull through,” Ortiz-Luis said.

“Then we will work together and individually, to make it happen. We are over the hill now, “ he added after noting that the more year long two-digit retreat since October of 2008 slowed down to single digit ebb last October and went back to the positive path last November.

Exporters have noted that actual orders toward the end of last year and early this year are coming back.

Philexport trustee representing the furniture industry, Myrna Bituin, said orders from Europe and the Middle East are filling in the drastic decline in furniture demand from the United States.


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