Philippine exports to Denmark hit triple-digit growth in September

Philippine exports to Denmark posted triple-digit growth in September despite the COVID-19 pandemic, the Department of Foreign Affairs (DFA) said Friday.

Exports rose 205% year-on-year in September to $130.2 billion from $42.7 billion in the same period in 2020, according to preliminary data from the Philippine Statistics Authority (PSA) and the Department of Trade and Industry (DTI).

“Our latest export growth rate shows a solid growth with a performance even stronger than pre-pandemic levels. Total exports in 2018, before the establishment of the Philippine Embassy in Denmark, was $43.3 billion. Now, it is significantly higher by more than 300%,” Philippine Ambassador to Denmark Leo Herrera-Lim said in a statement.

According to the DFA, the export of the catamaran ferry built by Austal Philippines is the top export product in 2021, comprising 49.9% of all exports.

Hearing aids had the highest growth at 727.6%, followed by semiconductor devices at 169.4%.

Herrera-Lim said the increase in exports showed stronger bilateral trade relations between the Philippines and Denmark.

He said the embassy vowed to push for more market opportunities, particularly in shipbuilding and manufacturing.

“As we continually enhance our trade cooperation with Denmark, we are confident that we will see a sustained improvement in our exports for the coming years,” Herrera-Lim said. — Richa Noriega/VBL, GMA News