Abaca exports down 32.6%
MANILA, Philippines - Export earnings from abaca fiber and other manufactures in January fell 32.6 percent on weak demand from Europe caused by the global crisis.
Data from the Fiber Industry Development Authority (FIDA) showed that export earnings from abaca and its other products fell to $6.26 million in January against $9.30 million in the same period last year.
The value of shipments of abaca pulp fell 46 percent in January to $4.18 million against $7.74 million in the same period in 2012.
The value of abaca pulp shipments comprised 66.7 percent of the total value of exports for the month.
Earnings from shipments of cordage, which made up 10.1 percent of the total shipments value fell 6.8 percent to $631, 032 in January 2013 from $677,391 million in the same period in 2012.
Earnings from shipments of abaca fabric fell 22.3 percent to $53, 974 in January 2013 from $69, 507 in the same month in 2012.
Export earnings of abaca fibercrafts, however, rose 195 percent to $1.19 million in January 2013 against $402, 587 in 2012.
Earnings from raw fiber fell 48 percent to $210, 680 from the previous$407, 210.
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