- Category: Economy
17 Sep 2012
- Written by Jennifer A. Ng / Reporter
Trade Secretary Gregory Domingo on Monday said the government is set to join more international trade fairs next year in its bid to prop up exports.
“We are sending inbound missions to `winner countries.’ [We will join trade fairs] in Paris, Frankfurt and China,” said Domingo during the Philippine Economic Briefing held in Pasay City on Monday.
The government joins trade fairs to promote Philippine-made products and help boost the country’s export receipts.
Figures from the National Statistics Office (NSO) showed that total merchandise exports for January to July increased by 7.7 percent on year to $31.56 billion from $29.3 billion posted during the same period last year.
Export earnings from the month of July alone increased by 7.8 percent year on year basis to $4.8 billion on the back of an increase in the shipments of activated carbon, metal components, bananas, ignition wiring set and other wiring sets used in vehicles, aircraft and ships, pineapple and pineapple products, tuna, and woodcrafts and furniture.
Exporters belonging to the Philippine Exporters Confederation Inc. (Philexport) said that because of the economic woes confronting two of the country’s major markets—the United States and Europe—the conservative 9 percent target increase in export earnings may be harder to hit.
Philexport President Sergio Ortiz-Luis, Jr. said that despite the economic difficulties confronting the country’s major markets, exporters remain hopeful that growing export earnings to $122 billion by 2016 would still be achieved.
Ortiz-Luis said exporters will have to adjust their targets in the next few years to achieve the $122-billion target.