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Clark exports, imports up in 1st semester of 2017

Clark exports, imports up in 1st semester of 2017

CLARK FREEPORT: The Clark Development Corporation (CDC) said that total exports during the first semester of 2017 has increased by $1.08 billion or 81.85 percent compared to year ago levels. At the same time, total volume of importation from first half of 2017 also increased by $1.04 billion or 79.45 percent compared to the first semester of 2016. In the comparative exportation and importation performance report submitted to CDC President-CEO Noel Manankil by the office of the Trade Facilitation Department (TFD), the exports volume from January to July this year has reached $2.403 billion compared to importation volume for the same months which reached $2.347 billion (a difference of almost $55.6 million). In the report, TFD said that it recorded e-EDs applications amounting US$2.403 billion.

Of this amount, exports in the semi-conductor industry account for 61 percent or about $1.475 billion, followed by electronics and manufacturing/industrial with 24 percent or about $572.91 million and 12 percent or $300.22 million, respectively. Both exports and imports recorded during the first half of 2017 were significantly higher compared to the figures recorded during the first half of 2016. Imports increased by 79 percent while exports increased by approximately 82 percent, the TFD said in its report. Total exports from January to June 2017 increased by $1.08 billion or 81.85 percent compared to the same period in 2016. On the other hand, total imports from January to June 2017 increased by US$1.04 billion or 79.45 percent compared to the first half of 2016. The total exportation record does not include those from Texas Instruments in Clark which pegged about US$980 million for the first semester of 2017.

The TFD reports stated that SFA Semicon (formerly Phoenix Semiconductor Philippines Corporation) ranked first among exporting firms in Clark with total volume US$1.44 billion from the first six months of the year with 58.99 percent of the total volume. Nanox Philippines, Inc. is ranked second on export volume with more than US$508.2 million 21.15 percent of the total volume for this first semester. The Japanese semiconductor firm has been among the consistent top exporters in Clark since its inception in the mid 1990’s. Third in the list is Yokohama Tire Philippines, Inc. with export amounting to and more than US$124.6 million, SMK Electronics Phils. Corporation with US$59.9 million, Lhuen Thai International Group Phils., Inc. with US$47.2 million, HLD Clark Steel Pipe Co. Inc. with US$39.1 million. Also included among the top exporters from January to June this year are Amertron Inc. with $31 million in export volume from the first six months of the year; La Rose Noire with $14.7 million, Outback Corporation with $14.5 million; and Prudence Corporation with $8.4 million.

The TFD said that China tops the list of the countries of destination with 22.84 percent with total amount of $548.86 million or almost one-fourth of the total exported goods for the first half of 2017, followed by United States with 22.34 percent or $536.875 million, Hong Kong with 11.27 percent or $270.841 million, Japan with 9.78 percent or $235.041 million, Czech Republic with 5.94 percent or $142.772 million, Korea with 4.51 percent or $108.409 million and Taiwan with 4.46 percent or $107.246 million. The rest of destination countries individually account for less than 4 percent – with total individual exports for the first half of 2017 of not more than $100 million, the TFD reports said.