Exports to China more than 50% during Duterte: Lopez
Philippine exports to China increased to more than 50 percent during the term of President Rodrigo Duterte, Trade and Industry Secretary Ramon Lopez said on Tuesday night.
"Our export to China increased. The exports of Philippines to China in 2015 is $6.1 or $6.2 billion in 2019. Fast forward to 2019, it became $9.8 billion. So it is 59 percent growth in four years," Lopez during the Talk to the People.
"Even if we look at during the pandemic now, January to June of 2021, the export growth to China, from January to June this year versus the same period last year, 34 percent growth," he added.
Lopez said investments from China also increased during the present administration.
"Even on investments, before practically we did not have investment from China. It increased during this administration. the investment from China increased in your administration," he said.
Lopez said despite the effect of the COVID-19, exports have recovered compared to when the pandemic started in 2020.
"This year, we have recovered with 72 percent growth. Based on the year date, from January to June, our exports increased at 29 percent growth. Last year, it went down to 50 percent," he said.
"This year's (exports) is much higher than the pre-pandemic 2019. It means we are really able to achieve growth, because again during the ECQ last March, April we allowed 100 percent operating capacity for the export sector," he added.
Lopez said aside from China the "top export market"of the Philippines includes United States, Japan and the European Union.
He said majority of the Philippine exports are electronics, machinery, and transport equipment. Robina Asido/DMS