Cordillera exports drop by 53.8 percent

BAGUIO CITY May 23 – The Cordillera office of the Philippine Statistics Authority (PSA-CAR) reported that the recorded free-on-board value of export goods of the region in November last year was at $59,242,211, much lower by 53.8 percent compared to the same period the previous year where exports were recorded at $128,109,113.

The PSA-CAR stated that the exports value in November 2017 to October 2018 decreased by 13.5 percent.

In November last year, the region's total volume of production was recorded at 178,184 kilograms wherein exports volume declined by 2.1 percent as compared to the total volume of 181,646 kilograms export the previous year which increased by 7.4 percent from the volume of exports in October 2018.

Among the export commodities, electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers and parts and accessories of such articles were largely produced for November 2018, accounting for 43.2 percent of export goods wherein the same were valued at $25,590,137.

Aircraft, spacecraft and parts thereof ranked as second with 41.65 percent share in the total exports of the region in November last year wherein the same were valued at $24,678,498 in export sales while commodities and transactions not classified elsewhere ranked as third highest produced commodity with 12.4 percent share in the total exports of the region amounting to $7,328,037.

Natural or cultured pearls, precious or semi-precious stones, precious metals, metals clad with precious metals and articles thereof; imitation jewelry; coin ranked fourth with 1 percent share in the regional export which was valued at $565,522.

Further, optical photographic, cinematographic, measuring, checking, precision, medical or surgical instruments and apparatus; parts and accessories placed fifth with a share amounting to $443,118 or 0.8 percent in the total export sales of the region.

The PSA-CAR stipulated that commodities such as articles of leather, saddler and harness; travel goods and handbags and similar containers; articles of animal gut contributed 0.7 percent while plastics and articles thereof also shared 0.27 percent; aluminum and articles thereof shared 0.08 percent, tools, implements, cutlery, spoons and forks, of base metal had only 0.07 percent and articles of iron and steel shared 0.05 percent. Where the same had total contributions of 0.9 percent to the export sales in the region.

The countries where the region exported the most in November last year were the United States with total exports value of $14,128,012 followed by Netherlands with $9,433,075 export receipts, sharing 15.9 percent of the total export sales of the region.

The region also exported to various countries: Singapore – 13.1 percent, France – 11.8 percent, Japan – 8.8 percent, Peoples Republic of China – 7.8 percent, Taiwan – 3.7 percent, Germany – 3.5 percent, United Kingdom or Great Britain and Ireland – 3.2 percent, and Malaysia – 2.3 percent.

Other countries or geographic entities, include Hong Kong – 2.6 percent, United Arab Emirates – 0.5 percent, Israel – 0.5 percent, Canada – 0.4 percent, Korea – 0.3 percent, Thailand – 0.2 percent, Poland, Italy and |India – 0.1 percent.

By Dexter A. See