MANILA, Philippines – The Bureau of Export Trade Promotions (BETP) said that the Philippines’ 2013 exports of goods and services likely grew by up to a little over 7% from 2012 figures.
This has been attributed to good outsourcing and tourism performance and an early recovery in merchandise shipments.
BETP director Senen Perlada said last year’s total exports likely ended with an increase of somehwere between 5.8% and 7.2% to a range of US$74.8 billion to $75.8 billion. The high end of the growth forecast tops 2012’s 6.7% hike.
Services have also strengthened export tallies, growing to $21.6 billion from $18.6 billion in 2012.
Recently released November results point to merchandise export receipts exceeding 2012’s $52.099 billion high, with the full-year merchandise report expected to yield growth of 2.2% to 4.1% for 2013. Perlada added that he was “confident merchandise exports will be at least close to 2012 levels,” given that the 11-month tally was at $49.4 billion, a 2.6% increase from the previous year.
The January to November 2013 results followed automotive and consumer electronics growth, and modest uptick in shipments of construction materials, chemicals, food, furniture, fixtures, home decor, and mineral products.
Exports are seen growing more in 2014, with the robust performance of the information technology and business process outsourcing industry likely to continue on the back of expansion into non-voice services.
Merchanidse export growth, according to Perlada, will be pushed forward by automotive and consumer electronics, woodcrafts and furniture, processed foods and beverages, and chemicals. – Rappler.com
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