Exports are benefiting from the growth of China and reconstruction in Japan

This year, exports from the Philippines  will continue their upward trend helped by the sustained growth of China and reconstruction in Japan.

Philexport, the organization of exporters from the Philippines , said that China should overtake Japan as No. 1 destination for export in 2011. Japan was the biggest buyer of products from the Philippines last year, representing 15.4% of total shipments and $ 7.8 billion.

Since 2008, date of economic partnership between the Philippines and Japan, exports of fruit and vegetables have increased by 50%. After the nuclear contamination in Japan, the Philippines are expected to increase their exports of food and agricultural products.

The exports to China grew by 94.32% last year. China has increased its demand for food and fresh fruit, especially bananas.

The Philippines  just recorded their strongest growth with an increase of 7.3% of GDP. According to experts, exports may rise 10% this year.

 
Source: phil star