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Philippines clocks $1.1 billion sales surge at China expo

Sixteen Philippine businesses registered $1.1 billion in sales during the 6th China International Import Expo (CIIE) held from November 5-10, 2023, nearly doubling the $655 million recorded in the previous year.

According to the Center for International Trade Expositions and Missions (CITEM), FoodPhilippines contributed over $226 million in booked sales, retail transactions, business matching, and negotiations at this year’s CIIE.

The ceremonial turnover highlighted purchase agreements totaling almost $900 million that were finalized ahead of the six-day event, marking the highest earnings recorded by the Philippines since the inception of CIIE in 2018. Notably, durian, bananas, specialty coffee, and pineapples emerged as the top-performing commodities.

Beyond direct sales, the Department of Trade and Industry’s Export Marketing Bureau’s business matching activities, conducted in partnership with the Bank of China, generated an additional $3.4 million in export sales.

DTI Undersecretary Ceferino Rodolfo emphasized the significance of CIIE as a crucial platform for the Philippines to showcase its premier food products, attract potential investors in China, and foster new business opportunities, ultimately contributing to economic growth.

Milyonaryo | Latest News