Phl is part of chemicals global value chain

 

By Rose de la Cruz

 

With the geographic relocation of the global chemicals industry to the Asia Pacific region and its continuous growth, numerous opportunities await countries in the region, including the Philippines, to enter and upgrade the industry global value chain.

 

But constraints like lack of raw materials and infrastructure, logistics and costs derails the Philippines’ entry into higher value petrochemicals operations and access to lower value inorganic commodity operations.

 

Based on government records, the chemicals sector in the Philippines rapidly grew alongside economic expansion and revival in manufacturing.

 

GDP contribution

 

In 2013, the sector as a whole chipped in 6.7 percent of the gross domestic production with exports hitting $2.2 billion in 2014, or roughly 3.5 percent of the country’s export basket.

 

Export growth outpaced global and regional trade with a compound annual growth rate of 13 percent since 2007, three times as fast as global exports and twice as fast as petrochemical subsectors. Exports are growing at 17 percent per annum.

 

Within these, exports are driven by a small number of products with the top 10 accounting for ¾ of all exports.

 

Overall, the country is a very small player in the global chemicals trade with only 0.2 percent of exports in 2014.

 

In 2009 for instance, chemicals sector was the third largest revenue provider with P330 billion.

 

There are over 1,400 registered chemical manufacturing firms employing 100,000 people directly producing chemical, chemical products, plastic and rubber products that have been growing at 7 percent yearly in revenues.

 

There are 32,000 chemical professionals and over 300,000 engineering students enrolled yearly with 60,000 graduates from 33 universities and colleges offering chemistry education in the country.

 

Chem Expo 2017

 

After making its long round around the Asia Pacific region and the Africas and Europe, Chem Expo is being brought to the Philippines, a good opportunity for the country to showcase both its raw materials and skills in quality chemical manufacturing.

Slated on Nov. 24-26 at the World Trade Center, Chem Expo 2017 will gather 100 foreign participants from China, Malaysia, Singapore, Taiwan, Europe and other countries producing chemicals for pharmaceuticals, plastics, colors and coating, organic and fine chemicals, dyes and pigment, personal care products, agrochemicals, chemical fiber, laboratory and packaging equipment.

 

Various global players and small and medium enterprises based in the Philippines are also expected to join the expo as exhibitors and participants.

 

 

The Chem Expo 2017 is organized by IMS (International Exhibitions and Conferences) in Asia, a group established in 1983 that has operated 600 international trade and consumer fairs, 300 conferences and seminars in Asia and Pacific countries (China, Singapore, Taiwan, Turkey, Thailand, Brunei, Hongkong, South Korea, Indonesia, Thailand, Malaysia and now the Philippines). #

Like us in Facebook

Features

Latest News

Businesses told to comply with TRAIN law

    By Rose de la Cruz   Employers in private businesses should be able to iron out by March this year the transition kinks in implementing the... Read More...
Foreign inflows in January hit $1.62 billion

  By Rose de la Cruz   The Bangko Sentral ng Pilipinas reported that net foreign portfolio for January hit $1.62 billion, surpassing the $1.56... Read More...
Comelec control urged for narco-infested LGUs

  By Francisco Benjamin Garcia   Rep. Bernadette Herrera-Dy, chairman of the committee on public information at the lower house has urged that... Read More...
IMAGE IN THE MIDDLE OF THE STORM

WHILE the modernization of public utility vehicles has always been in the wish list of past administrations, thought of as a solution to the... Read More...
IMAGE Honest Hubby and Other Laughs

Honest Hubby?THERE was this old lady who was caught shoplifting. On court day her husband accompanied her as she faced the judge. "Why did you... Read More...
IMAGE All about women and wives and other laughs

All about women and wives I married Miss Right. I just didn’t know her first name was Always. ***** Marriage is a three-ring circus: engagement... Read More...
IMAGE TAMANG DESISYON

TULUYAN nang tinuldukan ni Presidente Rodrigo Duterte ang anumang pagtatangka ng ibang mga grupo at sektor na buhaying muli ang usapang... Read More...
IMAGE GINHAWA PARA SA MGA MAMAMAYAN

Guhit ni Ed Rompal INIULAT ni Senador Sonny Angara na nagkasundo na ang congressional bicameral conference committee sa limang probisyon na... Read More...

Our Guests

Today625
Yesterday864
This week3333
This month17155
Total869791

Visitor Info

  • Your IP: 54.90.119.59

Who Is Online

36
Online

Wednesday, 21 February 2018
© 2016 OpinYon News Magazine Online. All Rights Reserved.

Please publish modules in offcanvas position.