Filipino exporters see 2013 shipments growing 11%

Philippines will grow by 11 percent next year, driven by the services and electronics sectors, according to the Philippine Exporters Confederation.

 

PhilExport president Sergio Ortiz-Luis believes that eletronics would continue to recover in 2013 

 

"Electronics I think will improve somehow,” Ortiz-Luis noted in a statement, saying he did not thing the slump in the sector would last forever. “It will end sooner or later maybe towards the beginning of 2013," he added.

 

"On the services side, it would be tourism and BPOs [business process outsourcing]," he said. "They are exactly as big as the electronics," the PhilExport official said, noting that electronics account for almost half of total exports.

 

He urged exports to look beyond the persisting fiscal and economic problems in the Europe and the United States, and the strong peso that impacts on their receipts, by searching for and developing new markets and constant product innovation.

 

In the first 10 months of the year, exports reached $44.475 billion – up 7.1-percent year-on-year.

 

The export sector expected a 9 to 10-percent growth this year, and Ortiz-Luis noted the target was achievable since exports rebounded last September.

 

Trade Undersecretary Cristino Panlilio expect exporters to do what they could to top the record revenues of $51.4 billion in 2010.

 

"I believe they can do $12 billion more for the remainder of the year," Panlilio said during the National Export Congress in Manila early this month. — VS, GMA News