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PH Exports Poised to Grow 10-17%

by: Sarah Joson

Wednesday, April 24, 2013 | Outsourcing News |

Philippine exports are poised to surge 10-17.2 percent this year, even after the decline in February. Merchandise exports are predicted to increase by 10 percent, according to Zeno Ronald Abenoja, Director of Department of Economic Research of Bangko Sentral ng Pilipinas.

Abenoja said sales of Philippine produce overseas are predicted to increase by 18.6 percent while coconut products will grow by 16.2 percent. Machinery and transport equipment, on the other hand, is expected to increase by 12 percent while a 10-percent growth rate is seen for electronics and furniture and fixtures.

Meanwhile, reports show a 7.6-percent growth in Philippine merchandise exports from $48.30 billion in 2011 to $51.99 billion last year.

Business process outsourcing seen as one of the key growth drivers for services exports

Business process outsourcing (BPO), information technology (IT), and IT-enabled services are seen as key growth drivers for services exports.

Other studies show that the IT-BPO industry of the Philippines will post a 20-percent growth this year, and contribute $16 billion in revenues.


Source:
http://www.sunstar.com.ph/

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