Cordillera exports drop by 11.5 percent

BAGUIO CITY  – The Cordillera office of the Philippine Statistics Authority (PSA-CAR) disclosed the region’s free on board (FOB) export goods for July 2016 which amounted to $120,948,251 dropped by 4.6 percent from $126,759,844 during the previous month decreasing by 11.5 percent from the $136,702,091 value in May 2016.

The PSA-CAR reported the region produced 346,376 kilos of export goods for July 2016, a decrease of 27 percent from June 2016’s 474,640 kilos.

Among the export commodities, the PSA-CAR stated machinery and mechanical appliances, electrical equipment, parts, sound recorders and reproducers, and parts and accessories of such articles continued to top commodity exports with a share of 80.5 percent and export sales amounting to $97,420,696 in total export receipts and the same goods shared 82.1 percent in the regional exports last June 2016 which is equivalent to $104,121,982.

On the other hand, vehicles, aircraft, vessels and associated transport equipment with $22,138,613 free on board export goods value came next comprising 18.3 percent in export sales for July 2016 and 16.9 percent during the previous month.

Further, raw hides and skins, leather, fur skins and articles; saddler and harness; travel goods, hand bags and similar containers; articles of animal gut ranked third contributing 0.5 percent in export sales equivalent to $565,891 for July 2016 compared to a 0.2 percent share in export sales equivalent to $240,836 for the previous month.

The PSA-CAR noted textiles and textile articles were in the top four exported commodity group in the region making up 0.4 percent in exports sales for July 2016 which was valued at $485,834, as compared to the previous month’s 0.2 percent or a share of $206,154 export value.

However, the report added the base metals and articles of base metals had the least share in export sales amounting to only $24,113 export value in July 2016, and $2,262 in June 2016.

The PSA-CAR claimed Singapore was the main destination of the export goods with 39.8 percent of exports that consists of machinery and mechanical appliances, electrical equipment, parts, sound recorders and reproducers and parts and accessories of the said articles with the total receipts of $38,751,009 followed by Netherlands at 27.8 percent with export sales value of $27,034,853.

Other countries that imported machineries and mechanical appliances from the region were the United States of America – $7,269,338, Taiwan – $5,893,886, Hong Kong – $5,199,506, China – $4,906,011, Japan – $2,246,063, Thailand – $1,541,691, France – $1,409,813, Canada – $838,172, South Korea – $561,452, United Kingdom and New Ireland – $511,869, Malaysia – $414,753, Mexico – $394,819, Germany – $352,701, Israel – $77,766, Poland – $9,968, Brazil – $4,100, Portugal – $1,470, Romania – $1,340 and India – $116.

As of July 2016, the Cordillera largely exported to three countries, Singapore, the Netherlands and the United States of America and Singapore had the biggest share of the region’s exports at 32.4 percent with total value of $39,142,558 followed by the Netherlands with 22.4 percent amounting to $27,066,810 and the United States with 15.4 percent or $18,630,256 in total exports.

By HENT

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