SBMA exports hit $713 million in first half

SUBIC BAY FREEPORT, Philippines  — The value of exports by registered locators in this freeport reached $713.15 million from January to June this year, marking an all-time high record in mid-year export value in 16 years.

Subic’s first semester export production also indicated an increase of $180.26 million, or 33.83 percent, compared to the $532.89 million generated in the same period last year.

“The freight-on-board (FOB) value posted by SBMA’s top 10 exporters from January to June comprised 86 percent, or a total of $613.44 million, of the exports,” Subic Bay Metropolitan Authority (SBMA) administrator/chief executive officer Armand Arreza told The STAR.

In an official SBMA statement, Korean shipbuilder Hanjin Heavy Industries Co.-Philippines (HHIC-Phil) remained Subic’s top exporter since last year by posting an FOB value totaling $372.74 million.

Arreza said the SBMA expects Subic’s export FOB value to grow in the coming months, as freeport enterprises roll out more products due to brightening prospects in global trade.

“Hanjin, for one, is expected to rally its production in the coming months. After delivering container ships like the APL Bahrain, Leyla K, and Eser K in the first semester, Hanjin is set to fabricate some 36 vessels more, with delivery schedules within the next two years,” Arreza pointed out. “So we’re expecting Hanjin to remain as the Subic freeport’s top exporter for the next few years, and also fuel the growth of Subic’s maritime industry.”

Arreza said that after HHIC-Phil, the next biggest exporters were Taiwanese computer maker Wistron Infocomm (Phils.), which posted $66.71 million; Japanese micro-motor manufacturer Sanyo Denki, with $50.98 million; Japanese ATM-maker Hitachi Terminals, $31.34 million; and Japanese wood products manufacturer Juken Sangyo with $24.86 million.

Also in the top 10 list were Taiwanese lock maker Tong Lung (Phils) Metal Industry with $23.7 million; Japanese electronics sensor maker Nicera, with $14.42 million; newcomer Taiwanese firm Tapu Corp., which manufactures metal products, with $10.9 million; Taiwanese aircon maker Hitachi, $9.51 million; and another Taiwanese newcomer Cano Subic Corp., also a metals producer, with $8.28 million.

SBMA figures also indicate that the biggest export values were recorded in the first quarter of the year, with $230 million in February, $181 million in January, and $119 million in March. Meanwhile, the second quarter yielded $67 million in June, $60 million in April, and $55 million in May.

On the other hand, import value from January to June this year stood at $1.64 billion, up by $539.53 million or 48.88 percent from last year’s $1.1 billion.