January export receipts on forest products grow 83.2%

MANILA -- The country's export receipts on forest products grew 83.2 percent in January from year-ago figures, with lumber and plywood shipments mainly accounting for the gain.

The Philippine Statistics Authority (PSA) said January receipts totaled USD17.89 million in 2018, nearly double the USD9.76 million registered in 2017.

Outbound lumber shipment receipts in January 2018 reached USD8.77 million, almost 45-percent higher than January 2017's USD6.06 million.

The PSA said plywood receipts in January this year totaled USD8.06 million, surpassing by 190.5 percent last year's USD2.77 million in the same month.

Receipts on other forest products for January likewise rose 13.4 percent to USD1.05 million in 2018 from USD0.92 million in 2017.

Outbound shipment of forest products helped bring the country's total January receipts to USD5.22 billion, latest PSA report showed. (PNA)

Source: Philippine News Agency