***Asia’s 'economic tigers' are absorbing increased Manila shipments,

MANILA: Non-traditional exports — electronics, garments and fresh foods — continue to show the way among the country's major foreign exchange earners.

Their performance reflects the "unexpected" surge in foreign demand for Philippine products tn the last five years, according to the Department of Trade and Industry (DTI).

In its report to President

ber 1989 aborted coup, considered the most serious and bloodiest of six attempts to topple the Aquino government; the drought that affected the major food-producing regions; the July 16 killer quake: power shortages; typhoons; and spiralling oil prices, triggered by the Gulf crisis.

But even more significant, the DTI noted, was that the Philippines was no longer de-

toys and housewares: chemicals: processed foods, fashion accessories and travel goods; and furniture.

The biggest buyers continue to be the United States and Japan, followed by Germany, the United Kingdom and the Netherlands. But the DTI noted that Asia's "economic tigers" like Hongkong. Singapore. Taiwan and South Korea, are absorbing an increasing

Aquino, the DTI said exports grew In the last five years from US$4.8 billion in 1986 to an unprecedented level of US$7.8 billion in 1989.

In three of the last five years, the country's exports experienced doubledigit gro-Wth. The banner year was 1988 when exports broke the US$7 billion mark and achieved a 3.6 per cent growth."

For the first 10 months of 1990. exports earnings had already reached US$6.7 billion. The growth was "smaller but still respectable" at 4 per cent compared with the same period in 1989. the DTI added. Year-end export receipts totalled about US$8 billion.

Still, ,last year's performance for exports — and the economy as a whole — was deemed creditable in the light of the crippling events that had affected the country.

These include: the Decem-

pendent on traditional exports to earn precious foreign exchange. For instance, only two traditional exports — coconut oil and lumber — were among the country's top 12 foreign exchange earners in the last five years, the DTI said.

Records indicate that the share of non-traditional exports to total exports had consistently grown from 71.2 per cent In 1986 to 84.6 per cent in 1990. "From 1986 to September 1990. non-traditional exports cumulatively earned US$25.2 billion or 80.9 per cent of all foreign exchange receipts for this period." the DTI said.

Electronics and garments continue to be the top earners, accounting for 39.05 per cent of the total cumulative exports from 1986 to 1990

The other major foreign exchange earners were fresh foo ds: metal manufactures: gifts,

number of the Philippine exports.

The DTI cited some factors which have contributed significantly to the surge in the country’s exports. Among these are: the department s efforts in simplifying export procedures and documentation. addressing exporters' problems within 72 hours, setting up more accessible and cheaper export financing abth tics, and aggressive promotion of Philippine products abroad

Such assistance and Incentives have, in turn, resulted in Increased exports for certain products. Take garments, for instance.

These efforts have paid off. Since 1986. the foreign ex change earnings of garments have doubled and are now, in fact, threatening to dislodge electronics as the country's leading export.

— DEPTHNEWS ASIA