by: Ronald Escanlar
Friday, February 11, 2011 | Outsourcing News |
Exports reached a three-year high last year, relying on an increasing global demand for electronic products, apparel, coconut oil, woodcraft, furniture, and metal components.
The country’s export receipts increased by 33.7 percent, for a total value of $51.39 billion, the National Statistics Office reported recently. This increase exceeds the government-set target of 15 percent for exports.
According to Sergio Ortiz-Luis, president of the Philippine Exporters Confederation, Inc. (Philexport), the value of exports would be higher if the revenues generated from the business process outsourcing (BPO) and services sectors were added.
A strengthening global economy pumped up demand for Philippine exports, with electronic exports increasing by 40.11 percent from 2009, bringing in a total value of $31.07 billion. Most products were shipped to Japan, the United States, and Singapore. Of the three countries, Japan was the Philippines’ top importer for 2010, buying Filipino-made products worth $7.8 billion.
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