COPENHAGEN—Export of goods from the Philippines to Denmark grew by 205 percent year-on-year (YOY) in September 2021.
In that month outgoing items jumped by as much as $130.2 billion from $42.7 billion in the same period last year, preliminary data from the Philippine Statistics Authority and the Department of Trade and Industry showed.
Ambassador of the country to Denmark Leo Herrera-Lim noted that this was the third consecutive year of positive YOY growth: “Our latest export-growth rate shows a solid…performance, even stronger than pre-pandemic levels. Total exports in 2018, before the establishment of the Philippine Embassy in Denmark, was [at] $43.3 billion. Now, it is significantly higher by more than 300 percent.”
The catamaran ferry built by Austal Philippines is the top shipped product in 2021, which comprised 49.9 percent of all exports. Among them, hearing aids had the highest growth at 727.6 percent, followed by semiconductors at 169.4 percent.
Said Herrera-Lim, the increase in exports indicated stronger bilateral trade ties between the two countries. He mentioned the embassy is working diligently to attract more investments to the Philippines, and is pushing for more opportunities to further boost exports—particularly in shipbuilding and manufacturing.
“As we enhance our trade relations with Denmark, we are confident we will see sustained improvement in our exports for the coming years,” said the envoy.