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HomeCustoms & TradePEZA Q1 exports up 15.6%, investments leap 53.9%

PEZA Q1 exports up 15.6%, investments leap 53.9%

  • Exports by Philippine Economic Zone Authority (PEZA) locators grew 15.63% in the first quarter of 2021 to US$14.93 million year-over-year
  • The PEZA Board approved 57 projects worth P25.382 billion in the first quarter, 53.87% higher than last year
  • Of the 57 newly approved projects, 43 will be located in Luzon while 10 will be located in the Visayas, and four in Mindanao.
  • Employment increased by 2.94%, which is equivalent to 1.58 million workers compared to 1.53 million workers a year ago

Exports by Philippine Economic Zone Authority (PEZA) locators grew 15.63% in the first quarter of 2021, while investments and employment also improved despite the ongoing COVID crisis.

Exports from January to March 2021 amounted to US$14.93 million, up from $12.91 million in the same period last year, PEZA said in a statement.

PEZA said exports from economic zones (ecozones) have increased even as the ongoing COVID-19 pandemic and the recent surge in cases in the country pose persistent challenges to PEZA’s investment performance.

Still, investments made in the first quarter of the year were 53.87% higher at P25.382 billion compared with the P16.496 billion recorded in the same period last year, with 57 PEZA Board-approved projects seen to generate a total of 5,601 job opportunities. The number of approved projects int eh first quarter of this year, however, was lower than the 87 projects approved in the first quarter of 2020.

Among the 57 newly approved projects, 43 will be located in Luzon while 10 will be located in the Visayas, and four in Mindanao.

Of the total, 22 are export projects and 15 are information technology (IT) projects, while seven projects are for facilities, three for logistics, one for utilities, and one tourism enterprise. Meanwhile, the rest are ecozone development projects.

Employment in PEZA ecozones likewise increased by 2.94% in the first quarter, which is equivalent to 1.58 million workers employed compared to 1.53 million workers a year ago.

Further, despite the modified enhanced community quarantine in the National Capital Region and neighboring provinces during the period April 12 to 16, PEZA zones reported that 90% of companies, numbering 2,701 firms, were operating nationwide with 1.193 million employees working, both as part of the skeletal force and under work-from-home arrangements.

Per sector, the manufacturing sector was 94% operational while the IT-business process outsourcing industry was 84% operational.

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