Central Luzon export up more than 50% in 2016

• Source: http://www.sunstar.com.ph/pampanga/business/2017/06/29/central-luzon-export-more-50-2016-550270
• Monday, July 10, 2017

By Princess Clea Arcellaz

CITY OF SAN FERNANDO -- Export products from Central Luzon grew by more than 50 percent in 2016 compared to the region’s export performance in 2015.

Based on the report of the Department of Trade and Industry (DTI)-Central Luzon Office, the total export of the region for 2016 amounted to US $ 8.11 billion compared to $5.38 billion in 2015 or an increase of $2.72 billion.

For 2016, Central Luzon’s top export is still electronics, with a total amount of $ 5.31 billion or almost 66 percent of the total export amount for the region. The amount represented an increase of $1.49 billion worth of electronic products as electronics exports in 2015 only reached $3.82 billion. The major contributor of electronic products exports is the Phoenix Semiconductor Philippines at the Clark Freeport Zone.

Machineries and transport equipment export also rose by 138 percent from $682.95 million in 2015 to $1.59 billion worth of products exported in 2016. The machineries sector represents almost 20 percent of the total export of Central Luzon.

Garments and textiles also made significant contribution in the growth of export in the region. For 2016, export of garments reached S 395 Million compared to $237 million in 2015, or an increase of $157 million. The garments sector make up almost five percent of the region’s total export.

Other products contributing to the region’s healthy export performance in 2016 are fashion and leather goods ($245 million), consumer manufacture ($186 million), industrial manufacture ($147.37 million), metal manufacture and food products ($64 million).

The top two markets for Central Luzon products in 2016 were China (29.28 percent of total exports) and the United States (18.16 percent). Other top export markets for the region include Hong Kong (12.45 percent), Japan (10.44 percent) and Thailand (3.01 percent).

DTI-Central Luzon regularly monitors export performance based on the reports of the Clark Development Corporation, Subic Bay Metropolitan Authority, Authority of the Freeport Area of Bataan, Luisita Industrial Park and the one-stop export documentation centers in Manila, Bataan, Clark and Subic.