THE export industry suffered a 41.2 percent drop in July 2020 due to the decrease in global demand.
With this, the Philippine Exporters Confederation Inc. (Philexport) Cebu executive director Fred Escalona told SunStar Cebu that they welcomed the deferment of the five percent increase on foreign cargoes by the Cebu Port Authority in line with the Bayanihan to Recover as One Act.
READ: CPA defers 5% hike in foreign cargo handling fees
"It is a welcome development indeed for exporters who have suffered the drop. We thank the CPA and the Opascor for their benevolence in recognizing the plight of our exporters," he said.
Escalona said low buyer demand and lockdowns around the world and in the country as well contributed to the drop.
"There were losses in the fashion accessories, garments, tourism, seaweed and gifts, toys, and houseware sectors. Actually, all sectors have suffered in one way or another due to low buyer demand and the lockdowns that affected productivity," he said.(JOB)