(+632) 8525-9775    wecare@excelsior.ph

How to Release Your Cargo in Customs Without Delay

excelsior on November 16, 2017

In our previous post, we’ve discussed the process of clearing your imported goods from the Philippine Customs.
While nobody enjoys getting their freight shipments suspended by customs, it can also result in frustrating and costly delays, especially if the goods awaiting customs clearance are meant to be sold at retail. Not only that but with the possibility of some rather sharp penalties for non-compliance, it’s crucial to follow correct customs procedure at all costs to ensure no additional costs or charges on your cargo.

With that in mind, now that you know the step by step of customs clearing, it’s time for you to learn the ways to fast-track the release of your consignment once it reached the Philippine soil. Here’s how:

1. Have Specific Description of the Cargo in All Documents

Make sure that all necessary import documents are properly filled-out to avoid any delays of you receiving your cargos in a timely manner. By detailed description, it is good to follow your SKU description. If it is a box of red shirts, size medium, indicate that exactly. This will aid the process if an exam is required.

Moreover, you need to mark your goods legibly and conspicuously with the country of origin unless exempted. Exemptions usually apply to goods that cannot be individually marked, like tiny items, such as screws. You should, however, mark the sale packaging of these types of items.

At the bottom of customs invoice, including any markings on the packages, and add a notify party, such as your customs broker.

2. Be Ready for the Import Permit (if necessary)

If you’re an accredited importer, the Bureau of Customs will grant you a special permit in the form of a document which you may need to present during the customs clearing process if you’re a first-time importer. Prepare this, along with other necessary documents to prove that you’re a legitimate importer in the Philippines and to avoid possible legal troubles.

3. Provide Proof of Payment

All goods coming from a foreign country needs to be declared, such as their description, quantity, and their value which will be the basis for assessment of duties and taxes. After the right duties and taxes are paid and registered by the customs authority, you will be provided with a proof of payment which you also need to provide during the customs clearing process.

4. Hire Trustworthy Brokerage Company

Having the wrong person handle your customs brokerage can be very problematic. Shipping containers are warehoused as they go through customs clearance. Warehousing and storage fees can add up quickly. If there is a problem with your customs brokerage and your customs clearance does not happen smoothly, your shipping costs could go up by hundreds to thousands of dollars.

By a hiring legitimate and trustworthy brokerage company, you will be able to experience many advantages – one of such is faster customs clearing process. A trustworthy customs broker not only know the shipping industry, but they know the laws better than anyone and can help you not only meet deadlines, but they can save you the headaches associated with importing. Overall, they help ensure the clean reputation of your business in the eyes of the government and market as well.

If you need a professional help to ensure a fast and hassle-free release of your import goods, contact Excelsior Worldwide Logistics Corp. today at (063) 525-9775 or send an email to wecare@excelsior.ph

How to Release Imported Item from Philippine Customs

excelsior on October 16, 2017

In this post, we will walk you through the steps by step guide on how to release your imported shipments from the Philippine Bureau of Customs (BoC)

Step 1: For new company or individual who wants to import any commodities with commercial value and or in commercial quantity, you first need an Import Clearance Certificate from the Bureau of Internal Revenue. Then you need to apply for Importer’s Accreditation to the Bureau of Customs. Only accredited importers have the privileges to imports any commodities whether regulated imported commodities or freely imported commodities.

Step 2: Import documents required for shipments to the Philippines include:

1. Commercial invoice/Pro-Forma invoice

  •  Should include a detailed description of the goods i.e. what is it made of, what is it part of, what is it used for.
  • The value indicated must be correct. If the shipment consists of more than one item, the importer must provide a value breakdown and ensure that the total amount tally to the total value of the shipment.
  • The value must be transaction value – the price paid or payable – for the item/s in case the item has been provided free of charge or as a gift.
  •  Putting “No Commercial Value” will lead to Customs asking the consignee to provide value evidence such as proof of payment, purchase order, or telegraphic transfer.
  • The invoice should also include the quantity, weight, unit price, currency and country of origin (COO).

2. Bill of lading (for sea freight) or air waybill (for air freight)

  •  Should be filled out completely and accurately.
  •  Make sure all the information is consistent with the commercial invoice.
  •  A revision in the declared value once a shipment reaches the destination port is subject to Customs approval.
  •  Make sure to include a reachable consignee contact so the destination port can easily inform them about the shipment’s arrival and advise of any necessary clearance paperwork.

3. Packing list – A document that details the merchandise in the shipment, along with information on how it was packed, how the items are numbered, the serial numbers, and the weight and dimensions of each item.

4. Applicable special certificates/import clearance/permit depending on the nature of goods being shipped and/or requested by the importer/bank/letter of credit clause, e.g., Food and Drug Administration (FDA) license; and

5. Commercial Invoice of Returned Philippine Goods and/or Supplemental Declaration on Valuation.

6. For a Letter of Credit (L/C) transaction, a duly accomplished L/C, including a Pro-Forma Invoice and Import Entry Declaration for Advance Customs Import Duty (ACID) is required. A Pro-Forma Invoice is required for non-L/C transactions (e.g., Draft Documents against Acceptance (D/A), Documents against Payment (D/P), Open Account (OA) or self-funded documentation).

7. Additional documents for certain imports – Importers bringing in animals, plants, foodstuff, medicine or chemicals must additionally obtain a Certificate of Product Registration from the Philippines’ Food and Drug Administration.

Step 3: File an Entry
Entry must be filed in the Customhouse within 30 days from the date of discharge of the last package from the vessel, which shall not be extendible. Failure to file the entry constitutes implied abandonment and will result in the ‘ipso facto’ forfeiture of the goods/shipment.
You or your customs broker may have the software to file Bill of Entry at office or home. If you do not have such facility, you can approach private EDI (Electronic Data Information) service providers who can arrange to submit the data on behalf of you.

Step 4: Payment of Duties and Taxes for ATRIG

  •  An ATRIG is an authority issued by the BIR, addressed to the Commissioner of Customs, allowing the release of imported goods from customs custody upon payment of applicable taxes, or proof of exemption from payment thereof, whichever is applicable.
  • The BIR Revenue Memorandum Order (RMO) No. 1-2016 directs all applications for ATRIGs for excisable products be processed and issued centrally at the BIR National Office in Quezon City.
  •  Only applications of importer-applicant and broker-representative who are duly registered BIR taxpayers will be processed.
  •  An individual importer-applicant must present a photocopy of his/her latest annual income tax return together with the audited financial statements duly stamped received by the BIR. These will be used in the valuation of the individual importer-applicant’s financial capacity to import.
  •  Prior ocular inspection of the imported goods would be conducted if necessary.

Step 5: Release of Cargo
Upon satisfying all these requirements of, you can now retrieve your import goods from the Customs.

The import customs clearance procedure in the Philippines can be very lengthy and tedious, especially for those small and medium businesses. If you need a professional help to ensure a fast and hassle-free release of your import goods, contact Excelsior Worldwide Logistics Corp. today at (063) 525-9775 or send an email to wecare@excelsior.ph

 

Tips to Run a Successful Importation Business

excelsior on September 25, 2017

In this post, we will give you some proven tips and tricks that will surely help you run a successful importation business today.

  1. Create Your Website and Start Blogging

 

One of the most effective ways to find networks, potential investors, and customers is through a website. According to statistics, over 6 billion searches are being made each day, making it the most cost-effective platform you can use to market your business today.

 

 

 

  • Get a domain name. While it is very common for businesses to have domain names that are the same as their business names (such as walmart.com), you can pick a domain name to include any text phrase you want as long as it is not already taken.

 

 

  • Choose a website builder. Website builders are tools that typically allow the construction of websites without manual code editing. To know more about this, check this guide to choosing the right website builder.

 

 

  • After you build your business website, it’s time to fill your website with content and information relevant to your products and services. Check out this post to learn more about successful business blogging.

 

  1. Select a Product to Import

There are a lot of ways to select the product you want to import and sell in your locality. For example, you can import the products which are currently trending in your area but is not fully satisfied yet by the local providers.

You can also create your own product, such as handmade crafts, then source the raw materials from other countries. Whatever it is you want to sell, make sure that there is a viable market for it, and you know exactly the selling points of that product in the market.

  1. Find the Right Market

After you identified the product you want to sell, you need to pick someplace to sell it. Here are some tips to help you pick the right market for your product:

  • Know what you are offering and you will be able to determine who will be buying it.
  • Do the right amount of research. By collecting some useful data on the market situations, needs and customer’s profitability you can design marketing strategy which will work in the targeted niche.
  • Your business model matters. Running a B2B or B2C business determines the niche strategy you should develop for your import business.
  1. Find a Reputable Supplier

The easiest way to find a supplier for the product you want to import is to consult some specialized online resources: Alibaba, Global Sources, ThomasNet, Makers Row, and MFG. You can also try searching the internet for specific keywords, for example, “Taiwan, bicycle parts manufacturers” to see what is currently available online. Either way, ensure the following when choosing an overseas supplier:

  • Make sure they are a good fit for your company: provides impressive product information, packaging, process, and has a world-class reputation in the industry.
  • Make sure they have the capacity to keep up with the demand.
  • Make sure you have what it takes to out the import partnership you’re about to make.
  1. Set the Price of Your Product

Typically, importers use the cost-plus pricing method to price their import goods. In this method, the importer takes a markup percentage over cost – which is the price charged by the overseas supplier to you when you buy from them. That markup becomes your profit or commission.

The goal is to price your product with markup that will not exceed what your target market is willing to spend. The more goods you sell, the more profits you’ll generate.

  1. Find Customers

As long as your website ranks well in search engines, customers will be able to find you in the online space. However, you should also use other ways to find customers. Check with local contacts, such as trade organizations, Philippine Chamber of Commerce & Industry, embassies and trade consulates.

These organizations can provide you with contact lists specific to your industry and also suggest trade shows that are taking place locally and internationally that might help you connect with potential customers.

You can also use other digital platforms such as social media to connect with your customers in a faster and efficient manner. Facebook, LinkedIn, and Twitter are full of users seeking for products and services, so using these platforms can help you stay relevant and present to potential customers worldwide.

  1. Select a Trustworthy Freight Forwarder

Your chosen freight forwarder can make or break your import business, so choose one wisely. Excelsior Worldwide Freight Logistics Corp. is a global freight forwarder that can help you transport your import goods to where you will be selling it in an efficient and timely manner.

Our trustworthy and reliable international freight forwarding service has been the backbone of many import business in the Philippines for 16 years. Catering to different industries, our logistics service has saved all our clients a lot of time, effort and anxiety. Not only we help our clients with their transport needs, we also help them prepare all the necessary shipping arrangements to ensure a seamless import process. With our expertise in Philippine importation process, you will be able to ensure a more successful importation business than you could have ever imagined!

These are the proven tips that will help you run a successful importation business in the Philippines. If you want to learn more about our freight forwarding services, Contact Excelsior Worldwide Freight Logistics Corp. today at (+632) 525-9775 or email us at wecare@excelsior.ph.

How To Choose The Best Customs Broker

excelsior on September 2, 2016

How To Choose The Best Customs Broker

Image from LinkedIn

Customs brokers provide professional and expert service on customs clearance
of goods during importing and exporting. Customs brokers are in charge of
making sure that the rules and regulations of international trade are consistently
met, and they are responsible for the interaction and communication with the
customs of a shipment’s country destination.

There are several factors that must be taken into consideration when it comes to
choosing the best customs broker.

1. Eligibility

The very first thing that you need to check with your customs broker is their
eligibility. Your customs broker must be a license holder, which means that he or
she is an accredited customs broker, and he or she has been able to pass the
licensure examination specific for customs brokers. Moreover, if you are looking
for a customs brokerage company, this company must empower its employees to
become licensed customs brokers.

In order to become a licensed customs broker, one must go through a four-year
course and take a licensure exam, which in the Philippines is administered and
regulated by the Philippine Regulatory Committee (PRC). The intensive
education process that licensed customs brokers goes through enables them to
have the confidence and efficiency that they need to carry out their
responsibilities.

Every country usually has an official list of active brokers from the government. It
will be wise to first check with this list for any customs broker that you will be able
to get in touch with.

For the official list released by the Bureau of Customs of the Philippines, the list
can be found here.

2. Technical Knowledge and Skills

Interfacing with the local and international customs is no mean feat.

The laws, rules, and regulatory requirements pertaining to transport of goods can
be very complex. This is why it is critical for your customs broker to have a high
level of technical knowledge, as well as access to up-to-date information when it
comes to shipments, importation, and exportation. Your customs broker must
have high understanding of entry protocols and requirements, valuation, fines and penalties, taxes, and the like.

3. Track record

It is also wise to ask industry peers for recommended customs brokers, as well
as existing clients of customs brokers for feedback regarding their performance.
This way, you can gauge their integrity, professionalism, and level expertise.

You might also want to consider making sure that your customs broker of choice
has no pending case with the customs of any country.

4. Specialty and experience

The ease of any work always depends on the experience of the one doing the
work. Customs brokerage is no different. You need to consider working with a
customs broker who has had experience, or better yet, has a specialization in the
handling of the goods that you will be shipping.

This way, you will not be caught off guard when it comes to duties, taxes, and regulations, or even obscure agreements and provisions, special cases, or some
exceptions to the rule, if there are any. After all, each country has a unique set of
shipping rules and regulations, and all goods are handled and shipped in a
specific way.

5. Professionalism and Integrity

The customs broker is the one who interfaces with customs in behalf of the
importer or exporter. This means that the customs broker is the one who
represents you and your business. In this regard, it is important to have a
customs broker who is able to satisfy all legal requirements in an efficient,
effective, and ethical way.

Moreover, the goods that you are shipping are valuable, and oftentimes irreplaceable. It is therefore important to make sure that these goods are being
handled by people only with utmost professionalism and unbreakable integrity.

Choosing to work with a customs broker is one thing, and choosing the best
customs broker for your business and your goods is another thing. It is important
to make sure that the customs broker you are working with actually has what it
takes to get the job done for you, and provide you with a service that is
exceptional and efficient.

Excelsior is a freight logistics corporation who not only moves your shipment, but
also takes care of customs clearance on your behalf. Excelsior has been
providing exceptional, excellent, and experienced service for 15 years,
throughout all the phases of shipment – from freight forwarding to customs
brokerage.

You can also be assured that at Excelsior, we value or partners (we treat our
people as partners, not employees). We support and encourage all partners to
become licensed customs brokers. This is to make sure that our clients are
provided only with excellent customs expertise and superior customer service. To
date, 80% of Excelsior Partners are customs administration graduates. Six of the
Excelsior Partners are licensed customs brokers; we are proud to note that this
number exceeds industry average today.

Allow Excelsior Worldwide to help you navigate through the world of import and
export. For more information on our customs brokerage services and to know
more about Excelsior, visit our website today at /. For any
queries that you may have, you may call us at (063) 5259775, or send us an
e-mail through wecare@excelsior.ph.

What Is a Customs Broker and Why Do You Need One?

excelsior on September 2, 2016

What Is a Customs Broker and Why Do You Need One?

Importing and exporting are two strategies currently being used in business expansion. In exporting, a business grows by tapping into international markets
and establishing international contacts. In importing, a business is able to provide
solutions to existing problems, as well as supply existing needs, through granting
access to products needed locally but only available elsewhere.

In the process of importing and exporting, the shipment will have to come in
contact with the customs, a government agency that manages and regulates the
flow of goods in and out of any country.

This is where a customs broker plays an important role.

A customs broker is a licensed individual or firm that ushers all shipment,
whether imported or exported, through customs. It is the broker who represents
the shipper when it comes to any dealings with the customs authorities, and
prepares the necessary documents for the shipment. A customs broker also
ensures that every phase of the shipment is consistent with the set rules and
regulations of goods transfers, which are unique, and not to mention constantly
changing, in every country.

Customs brokers also provide assistance when it comes to the classification, valuation, and entry protocols of goods, while making sure that all details and
necessary procedures associated are ironed out. Customs brokers also ensure
correct information with regard to taxes and tariffs, all in an effort to usher goods
towards its destination in an efficient and timely manner. The timely and efficient
ushering of shipment is critical because any form of delay in customs clearance
will cost a significant amount of time and money.

It is also important to note that communicating with different countries is no mean
feat, especially if there is a language barrier. In this sense, the customs broker
also serves as a translator, thereby ensuring that communication lines are not
broken or unduly diverted.

All in all, a customs broker performs all technical coordination functions relating
to importation, exportation, and overall goods transfers.

Because of the laborious nature of the processes involved in international trade,
as well as the technical requirements associated with importation, exportation,
and customs transactions, it is highly advisable for any business to avail of the
professional service offered by customs brokers. This way, businesses will have
the confidence and peace of mind that their shipments will be able to cross
international borders in a safe and efficient way. Furthermore, the services that
customs brokers provide enables business owners and staff to focus exactly on
what they need to focus on: managing their business.

As a business owner, getting a customs broker to help you with your shipment is
a wise business decision that will help you and your business remarkably. It is
not only practical, but also time and cost-efficient.

At Excelsior, we value your business and your time. This is why we want to offer
you a customs brokerage service that is efficient, professional, and ethical.

Allow Excelsior to assist you in the movement of your shipment, meet all of the
importation and exportation requirements on your behalf, and fulfill all
international trade and customs rules and regulations, all for a successful and
hassle-free shipment for you and your business.

To know more about Excelsior, visit http://www.excelsior.ph/.

What Is the Best Freight Forwarding Company?

excelsior on September 2, 2016

Image from wisegeek.org

Freight forwarding is the process of preparing goods for
transport in behalf of the shipper. The shipping process
includes moving the goods from one carrier to another,
transport tracking, freight consolidation, negotiation of freight
charges, and preparation of necessary documents.

The shipment of goods can be via air, sea, or land.

There are many freight forwarding companies, especially in
this day and age where the importing and exporting industry
is seeing a rising trend. After all, the transportation of goods
across the world is considered to be the keystone of modern society. So how does one know and decide which freight
forwarding company to choose?

1. Owns the carrier

Technically, fright forwarders serve as the middleman
between the shipper and various transportation services to
get the shipment to its destination. However, there are some
freight forwarding companies that own transportation
services like trucks and ships, thus eliminating the need to
coordinate with a third party carrier. As a result, such
companies are able to take full control of the freight
transport, thereby reducing cost, and promoting efficiency
and reliability.

2. Has a significant amount of knowledge and
experience

Of course, a good freight forwarding company needs to have
a good amount of knowledge and experience about
international transportation processes, as well as rules and
regulations on goods transfer.

It is critical for a freight forwarding company to have a
streamlined process of shipping goods in order to promote
efficiency at all times, regardless of the freight being shipped
and the destination of the shipment.

A good freight forwarding company also needs to have
excellent communication, administrative skills, and attention
to detail. Since freight forwarding involves different steps and
involves different people from different companies (such as
supplier, carriers, and warehouse), it is important to make
sure that there is a seamless coordination and a seamless
transaction among all parties involved.

3. Has problem solving skills

It is also important for a freight forwarding company to have
excellent problem solving skills. They need to be able to
identify the problem across the logistics and supply chain,
and provide the necessary solution to prevent any delays in
delivery, as well as to prevent the recurrence of shipping
problems.

4. Ethical and Professional

Lastly, freight forwarding companies must consistently abide
by rules and regulations of goods transfer, and they must
also have a high level of professionalism.

Professionalism can be seen in the way that the company
coordinates and communications with the shipper, as well as
with all other people involved in the shipping process.
Professionalism can also be seen in how the freight
forwarding company keeps their word with regard to
deadlines and shipping schedules.

Allow Excelsior Worldwide to help guide you through the import & export world. Contact us today to learn more about our global logistics . Call (063) 5259775 or email us at wecare@excelsior.ph

Excelsior Worldwide Logistics Corp Success Story

excelsior on September 1, 2016

Early this year, Excelsior Worldwide Logistics Corporation’s success story has been cited by Victory Fort, as an encouragement to business men and professionals in their weekly gathering.

In the series Faith to Conquer that discusses about the worthy cause of faith through obedience, Pastor Jeff Eliscupidez shared how the company turned around from following corrupt practices in the industry, to being fully transformed by obeying what the Bible is teaching in 2009.

With the leadership of its founder and owner, Victor Hermosa, Excelsior experienced a short term contraction in business due to clients who are used to the usual corrupt industry practice to speed up release of their shipments in the government body that overseas importation and exportation of goods.

However, with his strong desire to obey his faith, Victor had to accept the departure of many of his accounts and trust God that obedience will lead to blessings.

In this video Pastor Jeff Eliscupidez shared what happened shortly after obeying God’s call for righteousness.

Currently, Excelsior Worldwide Logistics Corporation is continually experiencing God’s favour and business growth, expanding it’s coverage to be able to accommodate the increasing needs of it’s customers. Aiming to give them the peace of mind by making sure that everything is done right, investing in it’s people development and technology to be able to give topnotch quality service and experience.

To see the full video, click here: https://www.youtube.com/watch?v=JIXKYbc9S34&feature=youtu.be

New Cebu international port project may start in August

excelsior on June 24, 2016

Lorenciana, Carlo and Braga, Michael Vencynth (2016, June 24). The Freeman. New Cebu international port project may start in August. Retrieved from http://www.philstar.com/cebu-news/2016/04/29/1577985/new-cebu-international-port-project-may-start-august

CEBU, Philippines – The new Cebu international container port may start construction by August this year if the National Economic and Development Authority Board would approve the project.

Cebu Port Authority General Manager Edmund Tan, however, could not say if the port project will be approved within President Aquino’s term which ends this June. The President chairs the NEDA.

Tan said he was hoping the project would be approved as soon as possible.

Speaking at the Visayas Shipping Conference 2016 yesterday in Cebu City, Tan said NEDA is currently awaiting from the Department of Transportation and Communications “the submission of requisite documents for the said project to facilitate NEDA Board-ICC (Investment Coordination Committee) processing and approval.”

These documents include the feasibility study which was completed in July 2015 and ICC project evaluation forms.

The project, Tan added, is scheduled to be presented to DOTC secretary for approval and subsequent endorsement to the NEDA Board-ICC.

According to the project’s implementation timeline, the target schedule for the construction is August this year and completion is second quarter of 2019.

The feasibility study on the new Cebu port, done by Korean experts, pointed a location in Tayud, Consolacion as the project site.

Among the study’s recommendations include funding from the Korea’s Economic Development Cooperation Fund as the project, which has an estimated project cost of P10 billion, has a poor financial viability.

Tan said the new port will need an access road to connect the port to and from the Cebu North Coastal Road.

The study noted that the traffic on the existing road linked to the access road to the new port will increase due to the increased cargo transport.

“It is recommended to expand lane of the existing road and set up a countermeasure for traffic improvement,” Tan said.

He said the CPA will have to ask the Department of Public Works and Highways for the possibility of funding the road access project.

The study also recommended the application of Korea’s container port development experience to Cebu new port.

The new container port is geared to meet the demands of dynamic and growing economy of Cebu and of the region.

It is expected to provide a long-term solution to the congestion at the existing Cebu International Port due to increasing cargo volume and the shallow water depth of its container berths.

The new port project was included in the Comprehensive and Integrated Infrastructure Program (CIIP) on April 11.

The municipality of Consolacion welcomes the idea of establishing the international port in Barangay Tayud.

Mayor Teresa Alegado believes that transferring the port to other areas like Consolacion will decongest the traffic in the cities of Mandaue and Cebu.

She added that it would also spur economic development of the town.

The traffic congestion at the Cebu International Port area is reportedly caused by big trucks hauling cargoes inside the area.

Duterte OKs P39-B project in Davao

excelsior on June 24, 2016

Nawal, Allan (2016, June 24). Inquirer Mindanao. Duterte OKs P39-B project in Davao. Retrieved from http://newsinfo.inquirer.net/792194/duterte-oks-p39-b-project-in-davao

Backers say one of Digong’s last acts as mayor shows he’s probusiness

DAVAO City Mayor Rodrigo Duterte, who would officially be President on June 30, signs a P39-billion deal on June 21 for a city project to develop some of its coastal areas. CONTRIBUTED PHOTO

DAVAO City Mayor Rodrigo Duterte, who would officially be President on June 30, signs a P39-billion deal on June 21 for a city project to develop some of its coastal areas. CONTRIBUTED PHOTO

DAVAO CITY—About a week before he leaves this city as mayor to assume the presidency, Rodrigo “Digong” Duterte signed a P39-billion project for port and coastal development that project proponents said was a showcase of Duterte’s support for business that he would bring to Malacañang.

Giving his seal of approval to the project could be one of Duterte’s last acts as mayor of the city.

Duterte signed the agreement with Mega Harbour Port and Development (MHPD) during ceremonies here on Tuesday. MHPD president Victor Songco signed for the developer.

Last year, the city council approved the proposed reclamation project, which involves turning a total of 214 hectares along the coastline of the city between the villages of Bucana and Agdao into a world-class, well-planned, environment-friendly and self-contained community.

Under the joint venture project, none of the area’s estimated 3,500 families would be displaced.

Marcelito Manalili, of Mega Harbour, said the company would immediately start to secure permits from the Philippine Reclamation Authority, the National Economic and Development Authority and other agencies, including those that oversee environmental compliance, before starting with the project.

“This is a unique project because this will not just spur economic development but also uplift the conditions of the people living along the coastline,” Manalili said.

MHPD, in a statement, said the approval by Duterte of the project showed the incoming President “has hit the ground running” in improving the economy.

The statement said the project “is an urban renewal and poverty alleviation program” for residents of the area.

“Basic utilities and services will be put in place, main roads will be cleared and zoning will be enhanced to allow a free flow of safety and security vehicles,” said the company.

“A flood control system and other calamity mitigating measures will form part of the undertaking. Recreational, commercial and sanitation centers will be developed to ensure a holistic approach to community development,” the company said.

MPHD said it would also build a commercial business district and industrial park in the project site.

“It will host establishments that will generate employment for Davaoeños and attract investors to locate in this self-contained development,” it said.

The project, the company added, would adopt environment-friendly technologies “following the natural footprint of Davao.”

Duterte said he wanted to see tangible results within a year from the day the project started.

Councilor Danilo Dayanghirang said it would also be best to study the possibility of integrating the controversial P19-billion Sasa Port expansion project into the Mega Harbour project.

The city council has opposed the Sasa port project on several grounds, including the lack of consultation when the Department of Transportation and Communications conceived it.

“Since there is a port component in the mega harbor, why don’t we explore its integration?” said Dayanghirang.

Philippines Top 10 Exports

excelsior on June 21, 2016

Workman, Daniel (2016, June 21). Philippines Top 10 Exports. Retrieved from http://www.worldstopexports.com/philippines-top-10-exports/

Exports from the Philippines amounted to US$58.6 billion in 2015, up 22.1% since 2011 but down -5.1% from 2014 to 2015. Philippines top 10 exports accounted for 80.1% of the overall value of its global shipments.

Based on statistics from the International Monetary Fund’s World Economic Outlook Database, the Philippines’ total Gross Domestic Product amounted to $742.3 billion in 2015.

Therefore, exports accounted for about 7.9% of total Filipino economic output.

From a continental perspective, 67.1% of Filipino exports by value are delivered to other Asian countries while 16.8% are sold to North American importers. The Philippines ships another 12.8% worth of goods to European clients with 1.3% going to Africa.

Given the Philippines’ population of 101 million people, its total $58.6 billion in 2015 exports translates to roughly $581 for every resident in that island country.

The unemployment rate for the Philippines was 5.8% as of January 2016 per Trading Economics.

Top 10

The following export product groups represent the highest dollar value in Filipino global shipments during 2015. Also shown is the percentage share each export category represents in terms of overall exports from the Philippines.

  1. Electronic equipment: US$26 billion (44.3% of total exports)
  2. Machines, engines, pumps: $8.2 billion (14%)
  3. Wood: $2.9 billion (5%)
  4. Medical, technical equipment: $2.4 billion (4.1%)
  5. Ores, slag, ash: $1.6 billion (2.8%)
  6. Ships, boats: $1.5 billion (2.6%)
  7. Vehicles: $1.4 billion (2.4%)
  8. Animal/vegetable fats and oils: $1.2 billion (2%)
  9. Knit or crochet clothing: $872.4 million (1.5%)
  10. Copper: $860.2 million (1.5%)

Medical and technical equipment was the fastest-growing among the top 10 export categories, up 276.5% for the 5-year period starting in 2011.

In second place for improving export sales were Philippines-made ships and boats which rose in value by 139.5% led by cargo vessels.

Filipino electronic equipment posted the third-fastest gain in value at 118.8%.
Leading the decliners among the top 10 Filipino exports were copper shipments declining by -36.8% and vehicles’ -35.8% slowdown in international sales.

Advantages

The following types of Filipino product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports is the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

  1. Electronic equipment: US$6.1 billion (Up by 98.9% since 2011)
  2. Wood: $2.5 billion (Up by 70.6%)
  3. Medical, technical equipment: $1.5 billion (Down by -6,408%)
  4. Ships, boats: $1.4 billion (Up by 160.8%)
  5. Ores, slag, ash: $1.3 billion (Up by 357.3%)
  6. Knit or crochet clothing: $722.7 million (Up by 0.1%)
  7. Fruits, nuts: $588.7 million (Down by -24.9%)
  8. Animal/vegetable fats and oils: $577.1 million (Down by -36.3%)
  9. Vegetable/fruit preparations: $479.9 million (Up by 53.5%)
  10. Copper: $423.9 million (Down by -40.8%)

The Philippines has highly positive net exports in the international trade of electronic equipment including consumer electronics. In turn, these cashflows indicate the Philippines’ strong competitive advantages under the electronic equipment category.

Opportunities

Below are exports from the Philippines that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country the Philippines’ goods trail Filipino importer spending on foreign products.

  1. Oil: -US$7.6 billion (Down by -34.1% since 2011)
  2. Vehicles: -$3.4 billion (Up by 433.2%)
  3. Iron and steel: -$1.6 billion (Up by 48.6%)
  4. Cereals: -$1.6 billion (Up by 16.6%)
  5. Plastics: -$1.5 billion (Down by -2.9%)
  6. Pharmaceuticals: -$1.2 billion (Up by 45.2%)
  7. Food waste, animal fodder: -$971.5 million (Up by 16.3%)
  8. Paper: -$864.5 million (Up by 32.5%)
  9. Meat: -$814.2 million (Up by 97.7%)
  10. Other food preparations: -$802.2 million (Up by 50.8%)

The Philippines has highly negative net exports and therefore deep international trade deficits for fossil fuels including crude and refined oils, coal and petroleum gases.

These cashflow deficiencies clearly indicate the Philippines’ competitive disadvantages in the international fossil fuel market, but also represent key opportunities for the Philippines to improve its position in the global economy through focused innovations particularly in alternative energy sources.

Companies

Filipino Export Companies

Ten Filipino corporations rank among Forbes Global 2000 for 2015. Below is a sample of the major export companies headquartered in the Philippines that Forbes included:

  • San Miguel (industrial conglomerates)
  • PLDT (telecommunications services)
  • Ayala (industrial conglomerates)
  • Aboitiz Equity Ventures (industrial conglomerates)
  • Alliance Global Group (industrial conglomerates)

According to global trade intelligence firm Zepol, the following companies are also examples of Filipino export companies:

  • Acbel Polytech Philippines (electric static converters, primary batteries)
  • Calfurn Mfg Philippines (bamboo/wood furniture, kitchenware, tableware)
  • Yuenthai Philippines (shirts, blouses)
  • Pacific Paint Boysen Philippines (polymers, oils)
  • Aruze G A Philippines Branch (machine tools, printers, copiers, operated games)

Excelsior Worldwide Logistics Corp.