Increase in merchandise exports in August 2009 rebounded with a 4.9-percent month-on-month growth after contracting by 2.8 percent in the previous month. This was buoyed by the strong recovery of manufactures.
Acting Socioeconomic Planning Secretary and NEDA Director General Augusto B. Santos said that Philippines along with Taiwan, Hong Kong, Thailand and Indonesia posted positive growth in their respective exports while other Asian neighbors such as Japan, China, Korea, Singapore, Malaysia and Vietnam suffered month-on-month drops in exports in August.
Exports of manufactured goods grew by 8.4 percent from the previous month, owing to the positive performances of total electronic products (8.1%), chemicals (67.4%), wood manufactures (76.3%), and garments (9.9%). (NEDA)
