Electronics export dominates trade
With the EJMT’s advanced shipping capabilities, logistics costs are expected to decrease, offering more efficient transport solutions.
With the EJMT’s advanced shipping capabilities, logistics costs are expected to decrease, offering more efficient transport solutions.
The electronics sector continues to dominate the country’s exports, posting $3.6 million worth of free-on-board (FOB) or 59.9 percent share for both domestic and international transactions.
In the latest report of the Export Development Council, total August exports stood at $6.748 million, a 0.3 percent change against the $6.245 million in the same period last year.
From January to August 2024, a total of $49.407.03 FOB a slight 2.3 percent change against the same period last year.
To five export markets for the Philippines include the United States at 18.1 percent; Hong Kong at 14 percent; Japan at 13.9 percent; China at 12.6 percent, and South Korea at 4.9 percent.
The East Java Multipurpose Terminal (EJMT), operated by International Container Terminal Services, Inc. (ICTSI), officially opened on 02 October 2024 in Lamongan, Indonesia.
Trade routes enhanced
The strategic development could benefit Philippine exporters by enhancing trade routes between the Philippines, Indonesia, and neighboring regions.
With the EJMT’s advanced shipping capabilities, logistics costs are expected to decrease, offering more efficient transport solutions.
This is particularly timely, as Philippine exports to Indonesia surged by 31.3 percent from January to June 2024, following the implementation of the Regional Comprehensive Economic Partnership (RCEP).
Located in Terminal Umum Tanjung Pakis, the EJMT serves domestic and international trade across key areas in Java. Its modern infrastructure promises to support regional economic growth while unlocking new export opportunities for Philippine businesses.
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