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Author Topic: Philippines exports rebound following easing of port congestion  (Read 413 times)
yellowpage09
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May 12, 2015, 02:25:08 AM
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http://www.fxwirepro.com/data/charts/20150512644858aaphp.png.png

Exports rebounded more strongly than expected in March, with shipments up 7.4% m/m sa. This followed a more modest recovery of +4.6% m/m sa in February, though exports still remain some 12.1% below the recent peak reached in November - pointing to further room for recovery from here.

The normalisation of port operations in February following congestion in prior months likely helped support a stronger recovery in March.

The recovery was driven by non-electronics (particularly machinery and mining), with electronics shipments actually declining on a m/m sa basis.

By country, exports were particularly strong to the US, China, and Japan, rising 9.9%, 8.6%, 8.4% m/m sa respectively.

(Source: http://fxwire.pro/Philippines-exports-rebound-following-easing-of-port-congestion-34719)
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Leina
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May 12, 2015, 04:12:55 AM
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What product does Philippine export beside labor?
TPTB_need_war
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May 12, 2015, 04:46:37 AM
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What product does Philippine export beside labor?

Fruits, handicrafts (bamboo furniture, pottery, etc), minerals, call centers, chemicals (perhaps to avoid environmental laws in other countries?), any labor intensive manufacturing (e.g. wiring bundles for vehicles), etc.

The Manila port congestion was really horrible. My balikbayan box from USA was shipped in October and didn't arrive until February.

Note the port congestion will likely return during the fall/winter high season. I doubt they've solved the logistics+corruption rather they've caught up during the slow season.

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