DTI: Exports to expand on new market strategy

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THE Department of Trade and Industry (DTI) expects exports to expand this year as the government pursues a new tack in exploring new markets and improving products, a DTI official said.

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“As we implement new strategies in diversifying our markets and upscaling our products and services amidst the slowdown in global trade, we hope that our exports will continue to improve in the next quarters,” Trade Undersecretary Nora Terrado said on Wednesday.

In a report last week, the Philippine Statistics Authority (PSA) said exports grew by 4.5 percent in December. Export receipts totaled $4.71 billion from $4.660 billion year-on-year.

While electronic products decreased by 2.8 percent, electronics remained the top export product of the country with total receipts of $2.451 billion pr 50.3 percent of total exports, the PSA noted.

Japan remained the country’s top buyer, accounting for $946.28 million worth of shipments, or 19.4 percent of total exports.

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