EDC optimistic of meeting 2013 exports target despite Q1 drop

The Export Development Council (EDC) is hopeful that the Philippines will be able to meet its exports targets for the year, despite a drop in the first quarter. “We are always optimistic for exports. We are hoping that the much-awaited snap-back for electronics comes, and we are always trying to find new products and markets to export,” EDC Executive Director Senen M. Perlada told reporters over the weekend. Outbound shipments contracted by 6.18 percent year-on-year to $12.08 billion in the first quarter. The decline is attributed to a substantial drop in electronics shipments during the period; electronics constitute the bulk of the Philippines' exports. “We are hopeful because there are international brands that are looking at our products like food for exports, and if international brands say your products are good then there is hope,” said Perlada. According to the Department of Trade and Industry, several international buyers expressed interesed in sourcing products from the Philippines at the recently concluded International Food Expo Philippines. — BM, GMA News