DAVAO CITY, Philippines -– Mindanao's export industry pulled off a remarkable 27 percent growth in exports last year, buoyed by the economic rebound of the US and surge in the China market, the island region's socio-economic planning agency said.

Data from the Mindanao Development Authority (MinDA) revealed that the double-digit growth of 27 percent, or $2.8 billion from $2.2 bilion in 2009, was propelled by the increases in the export of coconut products, nickel and organic chemicals.

Coconut oil, both crude and refined, topped last year's Mindanao export commodities with a total value of $794.6 million, up by 81.23 percent from $438.5 million in 2009. It surpassed banana, the traditional export winner of Mindanao, at 28.61 percent share in the total export growth last year.

Exports of Mindanao's organic chemicals and nickel ores also significantly increased at 90.06 percent and 60.08 percent, respectively. Organic chemical includes stearyl alcohol, cetyl alcohol, and lauryl alcohol.

Year-on-year data, however, showed a little decline in food-based exports like fresh banana, tuna and pineapple. Last year's banana exports registered a total of $317.3 million, down by 6.99 percent from $341.1 million in 2009.

Tuna and pineapple exports dropped by 9.87 percent and 8.72 percent respectively.

Other top export products of Mindanao last year were organic surface-active agents, fruit and vegetable juices and iron ore conglomerates.

The largest bulk of Mindanao's exports went to the United States, which remains the island's biggest export market. In 2010, the US received a total of $691.3 million worth of exports from Mindanao, cornering 24.89 percent of Mindanao's total export income for the year.

Japan followed at 18.02 percent market share.

Exports in China, almost doubled at 89 percent growth. Mindanao's main exports to China are nickel ores, copper ores, coconut oil, banana and acyclic alcohol.

Other promising export destinations for Mindanao are Netherlands, Germany, and South Korea.

Meanwhile, rice remains to be Mindanao's top import commodity which accounts for US$3,464 million or 19.46 percent of the total value of imports last year.

Mindanao rice imports came mostly from Vietnam and Thailand.

Other top import goods include wheat and meslin, uncoated kraft paper and paperboard, petroleum oil products and milk and cream concentrates.

"It is encouraging to note that despite the global economic challenges, Mindanao trade has remained bullish. The growth that we have achieved is needed to spur business and generate jobs for Mindanawons," said MinDA Chairperson Luwalhati R. Antonino.