CITY CITY (MindaNews / 12 March) – Country exports to Japan reached $ 884.95 million in January 2019, surpassing the United States as the best export market for the Philippines, according to data collected t issued by the Philippine Statistical Authority Tuesday.
The PSA reported that Japan's export value rose by 29.23% from $ 684.75 million in December 2018 to $ 884.95 million in January 2019 and that the USA did not come from 7.6% but from $ 774.37 million t December 2018 to $ 833.87 million in January 2019.
Hong Kong joined the Philippines's third largest export market with sales reaching $ 662.77 million, and then the People's Republic of China $ 556.93 million, Singapore $ 281.74 million, Thailand $ 209.51 million, Holland $ 177.07 million, Korea Republic $ 169.28 million, and Taiwan $ 165.46 million.
However, the total value of the country's export trade was estimated at $ 5.28 billion in January 2019, a decrease of 1.7% against a $ 5.37 billion recorded in the same period of 2018.
The decline was due to a reduction in the export of five of the main export goods, that is, electronic equipment and parts (-37.9%); metal components (-35.8%); gold (-33.3%); transport equipment and equipment (-24.2%); and other manufactured goods (-15.3%), PSA reporting.
China has remained the nation's leading provider of importable products, which reached $ 2 billion in January 2019, an increase of 24.5% compared to $ 1.61 billion in January 2018.
Korea became the second-largest supplier of imports with $ 789.56 million, and Japan $ 789 million, SA $ 650.68 million, Thailand $ 602.67 million, Indonesia $ 502.46 million, Singapore $ 439.60 million, Taiwan $ 423.29 million, Vietnam $ 356.86 million, and Malaysia $ 31674 million.
The total value included in the Philippines was $ 9.03 billion in January 2019, rising 5.8% from $ 8.54 bills in January 2019.
The PSA said positive growth was due to the increase of grain and grain preparation (82.5%); transport equipment (33.6%); mixed articles (15.8%); plastic in primary and non-primary forms (11.1%); telecoms equipment and electrical appliances (7.3%); other food and livelihoods (5.6%); business equipment and equipment (4.6%); and electronic products (4.1%). (Antonio L. Colina IV / MindaNews)