Exports out of Clark freeport zone, north of Manila, reached the $2-billion mark last year, three years earlier than projected.
Clark-based enterprises shipped $2.258 billion exports in 2011, 55% more than the previous year’s $1.453 billion.
The top exporting sectors were electronics ($1.573 billion), tires ($298 million), and garments ($226 million). The manufacturing sector, which posted the biggest year-on-year increase of 195%, contributed $131 million and aviation-related companies, $13 million.
“The country’s export performance may not be altogether bleak as exports of the Clark Freeport Zone exceeded the $2-billion mark a good three years earlier than the target date set by the CDC (Development Corp (CDC),” CDC president Felipe Antonio Remollo said.
Nanox Philippines, Inc remained the zone’s top exporter with receipts of $791 million last year representing custom-designed products such as liquid crystal display panels, LCD modules, monochrome LCDs, and other related electronic parts.
In second place was Phoenix Semiconductor Philippines Corp, a company established in January 2010 by one of Korea’s leading provider of semiconductor packaging. Phoenix exported more than $566 million in electronic parts in 2011.
Yokohama Tires Philippines, Inc, Clark’s second top exporter in 2010, was last year’s third largest with over $298 million in tire exports.
L&T International and SMK Electronic complete the list of top five Clark exporters with $145 million and $98 million in garments and electronic exports, respectively.
Other sectors that registered double- to triple-digit growth rates last year were services, tourism, and furniture.
Photo courtesy of Clark Freeport Zone http://www.visitclark.com/
