Forest products defy fall in export receipts

Philippine forest products collectively registered double-digit growth in January 2021 free-on-board export receipts, outshining all other types of goods shipped from the country.

Forest products’ total January receipts grew 12 percent to 31 million dollars from almost 28 million dollars during the same month in 2020, Philippine Statistics Authority data showed.

However, 2021 receipts covering outbound shipments of total agro-based products, mineral products, petroleum products, special transactions and even re-exports shrank five to 99 percent from 2020 levels.

Receipts for manufactured goods also shrank by less than one percent this year.

Outbound shipment of forest products contributed to the 5.5 billion dollar total in January receipts from all major types of goods the country exported.

That total is 5.2 percent lower than the country’s 5.8 billion dollar receipts from such exports in January last year.

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