The 3rd quarter QRES dealt on the proliferation of cheap and substandard imported items that were perceived to have entered the region by illegal means. As of October 2007, the DTI in Bicol closely monitored business establishments to ensure that all products being sold pass the safety standards and carry the safety labels required by the government. In Albay, the DTI provincial office conducted a public demonstration at the Landco Pacific Mall grounds, destroying products confiscated from stores in the province, that did not carry the required ICC and/or PS marks. The cheap but unsafe products that were burned and crushed by a road roller amounted to some P300,000.
(Source: (PIA) by EA Nunez 10/15/07)

Exports

The region generated total export sales of $10 million. This amount was 107 percent higher than that of the preceding quarter but 40 percent lower than that of the same period last year. Since export products are agri-based, the effect of super typhoons in 2006 on the agriculture sector manifested late in 2007. Coconut and abaca, the sources of raw materials for most of the region’s export products, have been greatly damaged by the typhoons.

Among provinces, Albay maintained its lead in exports generation with 79 percent share and registered a 150 percent increase over the preceding quarter. However, compared to the same period last year, Albay’s exports declined by 46 percent.

Compared to the 3rd quarter of 2007, only Catanduanes recorded a negative growth while all other provinces registered an increase in export sales. Masbate and Sorsogon recorded an increase of 110 percent and 4 percent, respectively.

Revenue

Internal revenue collection in Bicol for the month of September amounted to P260.44 million pushing the first to third quarters cumulative collection (January to September) to P2.79 billion and overshooting the regional revenue target collection for the period of P2.33 billion by P455.7 million or 19.5 per cent. The September revenue collection of P260.4 million is higher by P26.27 million or 11.22 per cent than the P234.1 million target. It is also higher by some P34.1 million or 15.07 per cent compared to last year’s collection of P226.3 million for the same month. (Source: BIR/PIA 11/09/07)