Olongapo SubicBay BatangGapo Newscenter

Friday, September 12, 2008

95 Clark Firms Expected to Reach US$1 BLN Export Target

Despite the economic crisis this year due to soaring prices of fuel, Clark authorities have expressed confidence that exporters will still reach a US$1-billion target after 95 firms posted over US$454 million export output from inside Clark Freeport Zone from January to June this year.
Clark Development Corp. (CDC), through the Enterprise Operations and Monitoring Department, reported that the first semester exports this year surpassed the year-ago level of about over US$335 million.

EOMD Manager Nunila Laluces stated in her report to CDC President Benigno N. Ricafort that the targeted US$1 billion worth of exports could be reached should manufacturers continue to post the same trend towards the second semester of the year.

Laluces said that Nanox Philippines, Inc. is still Clarks top exporter in the first semester with a total export volume of US$183.7 million from January to June this year although its output decreased from US$198.2 for the same period last year.

Yokohama Tire Phils., Inc., on the other hand, had tremendous showing as it placed second with its US$106.1 million output. This almost doubled its US$67.8 million export for the same period last year, Laluces said.

Other notable exporters in the first semester were L&T International Group Philippines, Inc.; Smart Shirts (Phils), Inc.; Peninsula Fashion Intl. Corp.; L&K Industries Philippines, Inc.; SMK Electronics Corporation; Golden Stone Garments, Inc.; Aderans Philippines, Inc.; Key Gold Manufacturing, Inc.; among others.

From the list of top 10 exporters, five are garment firms. They are joined by Japanese firms that are into electronics assembly, semiconductor processing and tire manufacturing.

Among the garment makers, Laluces reported that L&T Philippines exported US$37 million in six months (US$2.8 million for same period last year) while Smart Shirts exported US$22 million; Golden Stone with US$7.8 million (US$4.6 million last year); and, Peninsula Fashion International Corporation with US$7.2 million (US$1.3 million last year).

Electronics firms such as L&K Industries exported US$11.2 million this first semester which increased from US$6.6 million from the same period; SMK electronics also doubled its volume with US$24.7 from US$6 million from last year, Laluces said in her reports.

Export industry in Clark has recently been noted by the Department of Trade and Industry to be one of the prime economic boosters in Central Luzon following a strong export last year that contributes to economic development.

The Central Luzon region usually ranks third among the 16 regions including NCR in terms of export receipts due to the presence of a number of economic zones in Subic, Pampanga and Tarlac provinces. (PNA)

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