February exports rise for four straight months

by | Apr 15, 2010 | Business, Headlines, National News, World

Philippines’ exports grew for the fourth straight month in February driven by increased demand for the country’s electronic goods.

Exports grew 42.3% year-on-year after a 42.5% rise in the previous month, the National Statistics Office said Tuesday. Economists were looking for a 39.9% increase. Export earnings in February jumped to $3.567 billion from $2.506 billion in the previous year.

However, on a monthly basis, export revenue dropped 0.4% in February. In January, revenue rose 8.1% on a monthly basis.

Electronic products with a revenue share of 58.1% topped the list of exported goods in the country by earning a total revenue of $2.072 billion during the month. Export earnings of electronic goods grew 53.4% year-on-year after 51.2% in January. On a monthly basis, export earnings from electronic goods rose 1.9%, following the 8.1% growth in the previous month.

Semiconductors, accounting for 42.3% of the total export earnings, earned an export revenue of $1.508 billion, up 59.6% compared from the previous period.

Japan emerged as the top export destination for the country, comprising 17.6% share of total exports. Total export earnings from Japan increased 55.4% annually to $627.04 million in February. Exports to the U.S. accounted for 16.9% of the total exports and the revenue stood at $603.83 million. The export value increased 29.5% year-on-year, making it the second largest market for Philippine goods. (PIA-Bohol)

RP exports up by 6.5% in August

by | Oct 20, 2008 | Headlines, National News

Despite a softer demand for electronics, the country’s total exports in Aug. 2008 rose by 6.5 percent to $4.4 billon, up from the 4.4 percent year-on-year growth in July, the National Economic & Development Authority (NEDA) said.

In a report to President Gloria Macapagal-Arroyo, NEDA said this brought total receipts for the first eight months to $34.4 billion from the same period last year.

Top export commodities for the country include: Electronics, accounted for $2.531 billion (57.7 percent); apparel and clothing accessories – $172.52 million; and sales of petroleum products, accounted for $167.70 million.

Also in the list of the country’s top 10 exports in August were woodcrafts and furniture, ignition wiring set and other wiring sets used in vehicles, aircraft and ships; metal components,; other products manufactured from materials imported on consignment basis, coconut oil, and tuna.

Japan, U.S., China, Hongkong, Netherlands, Singapore,Korea, Taiwan, Malaysia, and Thailand continues to the country’s biggest market. (PIA/Bohol)