Exports projected to grow 7-8%

MANILA, Philippines - Total exports are seen to grow by seven to eight percent this year from a year  ago, supported by the performance of non-electronic products and  services, a trade official said.   

“Exports can grow by seven to eight percent including services (this year),” Trade undersecretary Ponciano Manalo Jr. told reporters on the sidelines of the National Export Congress 2013 yesterday.   

Last year, the country’s total exports which cover both merchandise and services, reached $60 billion.   

For merchandise exports, Manalo said that while the government was  initially projecting a 10 percent growth this year, shipments may just  rise by three to five percent from last year’s $51.994 billion.    

He noted that electronic shipments have been weak.   

As of end-September, the value of electronic product exports reached  $15.765 billion, down 10.04 percent from the $17.575 billion in the  comparable period in 2012.   

For the January to September period, the value of merchandise exports  reached $40.048 billion, down slightly from  $40.085 billion in the comparable period a year ago.   

For next year, Manalo expects total exports to grow by 10 percent.   

“Our non-electronic products are very strong like coconut, food  products, wood products,” he said.   

He said the government is also hopeful that the electronics sector  would recover in 2014.   

The government, he said, likewise expects services exports to grow  next year as the country taps opportunities in healthcare  information management as well as improves the performance of non-voice  services.   

“We see a big opportunity in healthcare information management in the  US,” he said.   

“Our strategy is to improve the performance of the non-voice (sector)  while the voice (sector) is growing,” he added.