Subic Freeport export earnings up 30%

Export earnings from Subic Freeport amounted to $300 million in the first four months of the year, up 30 percent from the $230 million recorded in the same period last year, Subic Bay Metropolitan Authority (SBMA) chairman Felicito C. Payumo reported yesterday.

For April alone, the export value of Subic Freeport-made products amounted to $89 million. Payumo attributed the notable increase in export earnings to a rebound in global demand for computers and other electronic products.

Payumo earlier said that they expect the Freeport zone’s "export performance to pick up from the decline recorded during the previous year."

Payumo said that non-electronic value-added products such as processed woods, high-end garments, jewelries and even aircraft parts production have contributed to the improvement in the area’s export performance.

One-Stop Export Documentation Center-Subic (OSECDC) manager Noel Tuliao said that Taiwanese computer maker, Wistron Infocomm, a subsidiary of Acer Computers, posted export earnings of $225 million for the first four months of the year, accounting for 75 percent of total earnings.

Wistron also emerged as the top employer followed by electric machineries and appliance manufacturer Sanyo Denki.

Sanyo Denki’s export amounted to $16 million, while Automatic Teller Machine (ATM) parts manufacturer, Omron Corp. followed with exports amounting to $12 million.

Japanese wood processor Juken Sangyo (Phils.) came next with $8 million in exports.

Exports from the Subic Bay Freeport registered a decline last year due to the decrease in shipments of Taiwanese computer giant Wistron Infocomm Philippines Corp. (formerly Acer Corp.).

Wistron’s exports were cut by more than half last year due to weak global demand.

Payumo is optimistic that once the $215-million Subic Container Port Project is completed, it will transform the Subic Freeport into a world-class port facility.