Export bureau head: PHL must improve export growth to sustain economic progress

The Philippines' export growth should be at least on a level with other ASEAN nations to sustain the country's economic advancement, a Trade official said. "Philippine exports have been growing at a slower rate because of weak demand especially in large consumer market such as the United States and European Union,” Bureau of Export Trade Promotion director Senen Perlada said in his presentation on the impact of exports on employment at the 9th Trade Promotion Organization Network World Conference in Kuala Lumpur. “For the Philippines to attain inclusive growth through trade, we have to sustain growth, create jobs, and reduce poverty,” Perlada said. He added that exports significantly contribute to the government’s goal of inclusive growth and the priorities of the Philippine Development Plan 2011-2016. In 2010, the country’s exports accounted for 34.8 percent of the country’s gross domestic product. According to Perlada, merchandise trade is currently concentrated in electronics, computer parts and auto parts. There is also success in the services sector, particularly in business process outsourcing, which currently employs 650,000 people. “For trade to help in the reduction of poverty, we gave importance [to] trade that induces income growth through production and service activities directly in poor areas. There are a lot of opportunities in agriculture, resource-based value-adding activities, eco-tourism and community-based tourism,” Perlada said. The government wants to increase the country’s annual international arrivals to 10 million by 2016 from the current three million. Under the Philippine Export Development Plan 2011-2013, the countryis also targeting $80.2 billion in exports for 2012 and $89.2 billion for 2013. To attain these targets, the PEDP identified key export sectors that will drive export growth: IT-BPO and other services; electronics; agribusiness products (such as food and coconut); minerals; shipbuilding; motor vehicle parts; garments and textiles; furniture, furnishings and decors; and wearables (fashion accessories, shoes, bags, jewelry). “If we accomplish our targets to double our total export to $120 billion by 2016, the outcome is increased local employment and, consequently, a better quality of life for more Filipinos,” Perlada said. — BM, GMA News