SEVERAL products that have been included in the most resilient segments of the country’s export sector are the same products being exported from Mindanao. This explains the resilience of the Mindanao economy despite the prevailing global economic crisis.
“Mindanao should be proud of all its export products as they are among the more resilient segments of the country’s battered export sector,” PhilExport National president Sergio R. Ortiz-Luis said during the opening of the Mindanao Trade Expo last August 13 at the Bangko Sentral ng Pilipinas building here.
He said only seven of the country’s top 30 export products have shown positive growth since the global crisis and most of these belong to the food sector.
“Leading the pack of survivors is General Santo City’s tuna industry with export sales of $143.6 million in May this year,” he said. This is followed by fresh and processed pineapple, another Gensan export, with a sales receipt of $103.7 million, or a growth of 3.55% compared to the same period in 2008.
Ortiz-Luis said the other food products that experienced positive sales increases include desiccated coconut with export earnings of $54.1 million and sugar which yielded sales receipts of $40 million during the same period.
Fertilizer and fine jewelry also showed some resiliency, he said, as fertilizers yielded $44,5 million in export sales receipts, which is an increase of 67% compared to the $26.6 million sales receipt in May last year.
Ortiz-Luis said the country’s export sector went down by more than one third for the first five months of 2009. This resulted to a decrease in dollar revenues from $21 billion during the first five months last year to only $13 billion during the first five months this year. [Lovely A. Carillo]
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