MANILA, Philippines - Exports from the Clark Freeport Zone grew a fifth in January from a year ago amid demand for electronics as well as other industrial goods.
In a statement, the Clark Development Corp. (CDC) said exports from the freeport reached $331.8 million in January, up from $276 million recorded in the same month in 2013.
Accounting for the biggest share in the outbound shipments for the month was one of the newest South Korean locators in the freeport. CDC noted that exports of Phoenix Semiconductor Philippines Corp. amounted to more than $198.918 million last month or 60 percent of total. Electronics firm Nanox Philippines, Inc. placed second, with its exports valued at $59.9 million, representing a 17 percent share of total shipments from the freeport Yokohama Tire Philippines, Inc.had the third biggest share at six percent, with $21.2 million worth of exports.
This was followed by SMK Electronics (Phils). Corp. with $11.16 million or three percent share, and garments firm L&T International Groups Phils. Inc. which had outbound shipments valued at $10.9 million or about three percent.
Completing the top 10 exporters in the freeport are Amertron Inc. with shipments worth $7.365 million; HLD Clark Steel Pipe Inc. with $6.95 million, UPS International with $2.15 million, Golden Stone Garments with $1.6 million and Multi-Tek Fastener Inc. with $1.42 million.
The CDC is optimistic the positive performance seen at the start of 2014 will continue for the rest of the year. “The CDC is expecting that the electronics, tires, garments, and other industrial goods will continue to be the zone’s top exporters in the coming months this year,†it said.
Imports of locators in the freeport, meanwhile, amounted to $276.06 million, in January, four percent higher than the $265 million reported in the comparable month in 2013.
CDC, which manages the Clark Freeport Zone, is one of the country’s investment promotion agencies. – Ding Cervantes