BAGUIO CITY – The Cordillera office of the Philippine Statistics Authority (PSA-CAR) revealed the region’s value of export goods for February this year dropped by twelve percent which was equivalent to $118,295,337 compared to the $131,943,635 amount of export goods last January this year.
The PSA-CAR report added that the region was able to produce some 1,583,794 kilos of export goods in January compared to the 28,196,397 kilos of goods in February this year.
Among the export commodities, machinery and mechanical appliances, electrical equipment, parts hereof, sound recorders and reproducers, and parts and accessories of such articles ranked first on export sales with a share of 86 percent in January until February this year at 79 percent with export receipts totaling to $113,295,971 and $93,021,323, respectively.
On the other hand, vehicles, aircrafts, vessels and associated transport equipment came in a far second at $17,360,190 and $24,821,275 value of exports accounting to 13 percent of share in January and 21 percent in February 2016.
The PSA-CAR added that the miscellaneous manufactured articles ranked the least in exports share accounting only $1,202 in January and zero value in February this year.
As of February this year, the Cordillera largely exported its goods to Singapore, the Netherlands and the United States of America.
The PSA-CAR noted that Singapore had the biggest share of the region’s exports at 37 percent with total value of $43,272,699, followed by the Netherlands with 25 percent amounting to $29,157,363 of the export value and the United States at 13 percent or $15,028,942 in total value.
According to the PSA-CAR, the Cordillera also exported goods to Malaysia, Mexico, Canada, South Korea, Israel, United Arab Emirates, Switzerland, India, Poland, Saudi Arabia, Qatar, Vietnam, Portugal, Ireland, Brazil, Italy and Australia.
The countries had exports value registering in total payments of $1,855,596 or 2 percent of the total regional exports.
It was learned that the 21-member Asia Pacific Economic Cooperation (APEC) member countries are the primary foreign trading partners of the Cordillera.
In February this year, APEC nations had total export receipts amounting to $79,396,072 representing 67 percent of the total exports from the region.
The PSA-CAR stated that exports from non-APEC countries comprise 33 percent of the total goods and commodities exported by the region valued at $38,889,265.
Among the APEC member countries, Singapore topped the region’s foreign export sales receipts registering 54 percent, followed by the United States of America at 19 percent, Taiwan at 10 percent, Peoples Republic of China at 7 percent, Japan at 5 percent, Hong Kong at 3 percent and the rest of the APEC countries at 2 percent.
Mechanical appliances were the leading export products of the region to Singapore with total earnings of $41,823,093 followed by vehicles, aircrafts, and other export goods with total value of $1,387,738.
The Netherlands is the region’s non-APEC country primary buyer of machineries, mechanical appliances with export receipts equivalent to $29,155,180. By HENT
