Business and Economy
PH forest product exports up in Q1 2019: PSA
Other forest product export receipts grew 112.
3 percent to USD15.29 million from USD7.21 million. (Photo: Pär Pärsson/Unsplash)
MANILA — The country’s January to March’s free-on-board receipts for forest product exports increased further this year, according to the latest data of the Philippine Statistics Authority (PSA).
The 2019 first quarter export receipts, according to the PSA, totaled USD84.17 million to exceed USD55.19 million posted in the same period last year.
The number was more than double compared to what these goods generated in 2017, it added.
Despite decline in the plywood export receipts from USD26.34 million in 2018 to USD23.93 million this year, the receipts for lumber exports rose 107.5 percent from USD21.65 to USD44.93 million.
Other forest product export receipts grew 112.3 percent to USD15.29 million from USD7.21 million.
In 2017, receipts for plywood, lumber and other forest products hit USD5.42 million, USD14.92 million and USD2.11 million, respectively.
The agency provided no data for such exports’ receipts last year.
