Olongapo SubicBay BatangGapo Newscenter

Monday, August 02, 2010

Subic firms post all-time high in mid-year exports at $713 million

SUBIC BAY FREEPORT — Export value posted by registered enterprises here reached $713.15 million from January to June this year, marking an all-time high record in mid-year export value in the last 16 years.

Subic’s first semester export production also indicated an increase of $180.26 million, or 33.83 percent, compared to the $532.89 million generated in the same period last year.

Subic Bay Metropolitan Authority (SBMA) Administrator Armand Arreza said the freight-on-board (FOB) value posted by Subic’s top 10 exporters from January to June comprised some 86 percent, or a total of $613.44 million, of the exports.

Korean shipbuilder Hanjin Heavy Industries Co.-Philippines (HHIC-Phil) remained Subic’s top exporter since last year by posting an FOB value totaling $372.74 million.

Arreza said that the SBMA expects Subic’s export FOB value to grow in the coming months, as free port enterprises roll out more products due to brightening prospects in global trade.

“Hanjin, for one, is expected to rally its production in the coming months. After delivering container ships like the APL Bahrain , Leyla K, and Eser K in the first semester, Hanjin is set to fabricate some 36 vessels more, with delivery schedules within the next two years,” Arreza pointed out. “So we’re expecting Hanjin to remain as the Subic free port's top exporter for the next few years, and also fuel the growth of Subic’s maritime industry.”

Arreza also said that after HHIC-Phil, the next biggest exporters were Taiwanese computer maker Wistron Infocomm (Phils.), which posted $66.71 million; Japanese micro-motor manufacturer Sanyo Denki, with $50.98 million; Japanese ATM-maker Hitachi Terminals, $31.34 million; and Japanese wood products manufacturer Juken Sangyo with $24.86 million.

Also in the top 10 list were Taiwanese lock maker Tong Lung (Phils) Metal Industry with $23.7 million; Japanese electronics sensor maker Nicera, with $14.42 million; newcomer Taiwanese firm Tapu Corporation, which manufactures metal products, with $10.9 million; Taiwanese aircon maker Hitachi, $9.51 million; and another Taiwanese newcomer Cano Subic Corporation, also a metals producer, with $8.28 million.

SBMA figures also indicated that the biggest export values were recorded in the first quarter of the year, with $230 million in February, $181 million in January, and $119 million in March. Meanwhile, the second quarter yielded $67 million in June, $60 million in April, and $55 million in May.

On the other hand, import value from January to June this year stood at $1.64 billion, up by $539.53 million or 48.88 percent from last year’s $1.1 billion.

Arreza said that some 81.35 percent of the import FOB value during the period was contributed by the top 10 importers, which brought in goods worth $1.34 billion.

Besting all other importers in the Subic Freeport was Japanese electric appliance parts manufacturer Sanyo Denki with $303.16 million; followed by Filipino firm PTT Philippines Trading Corp. with $270 million; HHIC-Phil., Inc. with $193.97 million; Japanese manufacturer Koryo Subic, Inc. with $110.83 million; and Wistron Infocomm with $109 million.

Other firms that completed the top 10 importers list were Nicera Phils, Inc. with $104.83 million; Nidec Subic Phils. Corp. with $90.93 million; Micro Dragon Petroleum, Inc. with $58.86 million; Koushin Manufacting Phils., Inc. with $56.54 million; and Subic Int’l Air Charter Inc. with $38.68 million. (By JONAS REYES - mb.com.ph With a report from Franco G. Regala)

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