MERCHANDISE exports growth eased to single digits in February, a slowdown both government and industry officials said reflected a normalization from last year’s rebound.
Outbound shipments grew by 8.2% to $3.864 billion during the month, the National Statistics Office (NSO) yesterday reported, the slowest since November 2009 when exports began to recover from the global downturn.
“We are going towards a normal growth rate,” Socioeconomic Planning Secretary Cayetano W. Paderanga, Jr. said.
Sergio R. Ortiz-Luis, Jr., president of the Philippine Exporters Confederation, Inc., called the slowdown “natural [because] last year was a recovery for both exports and imports.”
On a monthly basis, exports were down 3.4% from January’s $4 billion.
Electronics, still the country’s top export at 52.2% of the total in February, dipped by 2.7% year-on-year and by 5.9% month-on-month.
Mr. Ortiz-Luis, also vice-chairman of the public-private Export Development Council, said the 10% growth forecast for 2011 would be maintained.
This year’s outlook is down significantly from last year’s 34% surge.
Semiconductor and Electronics Industries in the Philippines, Inc. (SEIPI) President Ernesto B. Santiago said his organization was also keeping its 12% growth target for the year.
“We expect a rebound driven by normal business growth in the second half,” Mr. Santiago said.
The same outlook was offered by University of Asia & the Pacific (UA&P) economist Cid L. Terosa, who said: “Electronics will pick up by the third and fourth quarters [following the] seasonal trend.”
Japan was the top export destination in February, with a 17.2% share or $665.7 million, up 6.2% from a year earlier. It was followed by the United States, which had a 16% share or $616.89 million, up by 2.2 %. The third-biggest market was China, which accounted for 11.2% or $433.8 million, a 46.5% increase.
The impact of a devastating earthquake and tsunami in Japan, said Mr. Ortiz-Luis, may be “temporarily reflected in March.”
Exports “may probably go down for the next month … [but] in a few more months, we see opportunities in rehabilitation” that could start “by the end of April.” — K. J. Q. Ang, Businessworld
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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