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2,985,783 or 33% Share in The

According to Philippine Statistics Authority data, coconut products were the leading export in January 2019, valued at $96,709. Coconut oil accounted for $69,260 of exports. The Philippines is the world's top coconut oil exporter due to its large coconut plantations, which provide jobs for many farmers. Maintaining farmlands is important for sustaining this key export industry. The leading import was capital goods, valued at $2,985,783, which is critical for the Philippines' industrialization and economic growth through infrastructure development and increased productivity. Continued imports of technology and machinery will help the country advance further.

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37 views1 page

2,985,783 or 33% Share in The

According to Philippine Statistics Authority data, coconut products were the leading export in January 2019, valued at $96,709. Coconut oil accounted for $69,260 of exports. The Philippines is the world's top coconut oil exporter due to its large coconut plantations, which provide jobs for many farmers. Maintaining farmlands is important for sustaining this key export industry. The leading import was capital goods, valued at $2,985,783, which is critical for the Philippines' industrialization and economic growth through infrastructure development and increased productivity. Continued imports of technology and machinery will help the country advance further.

Uploaded by

Jeth Vigilla Nangca
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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According to the data of Philippine Statistics Authority, Agro-based products, specifically

the Coconut Products is the leading export of the country during the month of January, Year 2019.
This products are under the Major type of Goods exported to other countries. Coconut products
are valued at $96,709 having 1.8% share in the market economy. The components of these products
include Coconut oil with $69,260 or 1.3%, Desiccated Coconut $18,811 or 0.4%, Copra meal/cake
$5,495 or 0.1%, and other at $3,143 or 0.1%.
The Philippines is known to be the top exporter of coconut oil worldwide. It is due to the
fact that the country has large hectares of coconut plantation in every corners of it covering 30%
of the total farmlands in the state. Being the country’s biggest agricultural industry, coconut
farming provides jobs for Filipino farmers in the coconut farms located in 68 out of 79 provinces
in the Philippines. Coconut farming lands also have the largest potential for diversification. These
are all the importance of coconut products in the international trade as well as to the economy of
the Philippines.
Since agricultural products contributes largely to the revenue on Philippine exports,
farmlands must be secured by limiting the power of property developers to reach and occupy
territories of farmers.

On the other hand, under also majority types of goods, the leading import of the Philippines
during the month of January 2019 is the Capital Goods having $2,985,783 or 33% share in the
market economy. There are several components of Capital Goods including the Power Generating and
Specialized Machines with $743,972 or 8.2% share; Office and EDP Machines having $295,263 (3.3%)
share; Telecommunication Equipments and Electronic Machines with $1,328,420 or 14.7% share; Land
Transport Equipment excluding Passenger Cars with $254,791 or 2.8% share; Aircrafts, Ships and Boats
with $200,829 or 2.2%; and Prof.Sci.and Cont. Inst., Photographic Eqpt. having $162,509 or 1.8$ of the
total capital goods.

Capital goods has the highest share in Philippine Imports since the state needed this the
most because the country is getting more and more industrialized as time passes by. These goods
are the mechanism in the society for the establishments of the buildings, airports, high ways, and
additional machineries so that the economy can grow bigger. These also helps the economy to
create new additional jobs for the people, in that case, the standard of living may rise. In addition
to this, Philippines is expected to be more productive if they will invest in Capital Goods. If this
will continue to grow, the country can compete to other countries known for having their advanced
technology.
In line with this, Philippines must raise its funds to have a continuous growth in the market
economy. Philippines is still in need in terms of technology and machineries that is why the trade
from other countries would be a big help to country’s increasing growth.

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