EXPORTS

   On the whole, Philippine export sales dropped by a hefty 40 percent last year. According to the Department of Trade and Industry.Region S5.  export sales have been steadily declining in Albay, which is known for its abaca and handicrafts.

 

   While export companies still receive orders from buyers, mostly from the United States, Japan and Europe, the orders have been reduced, according to Rodrigo Aguilar, provincial director of DTI (Albay).  Most affected were companies producing handicrafts, especially gifts and houseware. Other traditional Albay exports include coconut oil, abaca, abaca fiber and pulp and paper.

 

   When exports peaked in Albay in 2002, the DTI had 50 registered exporters, most of which are involved in handicraft. Now, only 28 are left.

 

   As a consequence of the global economic slowdown, two companies have permanently closed down and other families were forced to merge their companies to save on costs.

 

   Pacific Cordage Corp., a hemp producer in Barangay Lidong, Sto. Domingo, Albay, suspended operations in December last year because of low demand. It paid some P1.7 million in benefits to its 166 workers, a statement from the Department of Labor and Employment said. (Based on PDI article, March 15, 2009)

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