MANILA, Philippines - The country’s total exports likely grew between 5.8 to 7.2 percent in 2013 from the previous year due to the strong performance of the outsourcing and tourism sectors as well as the recovery in merchandise shipments, the Department of Trade and Industry (DTI) said.
In a statement, the DTI’s Bureau of Export Trade Promotion (BETP) said total exports in 2013 are estimated to have reached between $74.8-billion to $75.8-billion, higher than the $70.699 billion exported in 2012.
The DTI said services bolstered the export tally as it grew 16 percent to reach $21.6 billion at the close of the year from $18.6 billion in 2012.
Full-year 2013 merchandise exports, meanwhile, are seen to have risen 2.2- to 4.1-percent from the $52.099 billion registered in 2012.
“I am confident merchandise exports will be at least close to 2012 levels,†BETP director Senen Perlada said, noting that merchandise shipments have posted year-on-year growth as of end-November.
Data from the Philippine Statistics Authority showed the merchandise export tally for the January to November period was at $49.4 billion, a 2.6 percent increase from the comparable period a year ago.
The country’s merchandise exports have been on a decline at the earlier part of the year.
The DTI said the improved January to November results came on the back of robust automotive and consumer electronics growth which helped temper the contraction in semiconductors sales.
It also attributed the modest growth to the double-digit surge in shipments primarily of mineral products, food, construction materials, chemicals, furniture, fixtures and home decor.
“Moving forward, the same bright spots are seen to drive exports growth in 2014,†the DTI said.
It noted that the growth in the information techno-logy - business process outsourcing industry is expected to continue this year due to the expansion into non-voice services.