Clark exports up 143.23%

MANILA, Philippines - Shipments from the Clark Freeport Zone grew 143.23 percent in the first two months of the year from the same period last year, driven by the strong performance of semiconductor firms in the special economic zone.

The Clark Development Corp. (CDC) yesterday reported that exports reached $594.2 million from January to February, up from $244.3 million registered in the same period last year. 

CDC Korean semiconductor firm Phoenix Semiconductor Philippines Corp. (PSPC), which has a committed investment in the of $1 billion in Clark, churned an export volume worth $102.1 million in January and $96 million in February for a total of $198.1 million. 

While Nanox Philippines, Inc., churned out an export volume worth $72.9 million in January and $118 million in February for a total of $190.9 million.

Other firms with significant export volume in the first two months of the year were Yokohama Tire Philippines, Inc. with a total exports of $54.3 million ($12.8 million in January and $25.5 million in February); Lhuen Thai Philippines (LNT) total exports of $30.2 million ($13.6 million in January and $16.6 million in February); Hld Clark Steel Pipe Co. Inc. with $8.5 million total exports ($6.8 million in January and $1.7 million in February) and SMK with $12.4 million total exports ($5.2 million in January and $7.2 in February).

In 2011, export revenues in the former US military base reached $2.258 billion up 55 percent from the $1.453 billion exports recorded in 2010. Some $1.573 billion of the 2011 exports came from the electronics sector.