Wednesday, November 10, 2010

Exports climb 46.1% in September

MANILA, Philippines - Exports continued to post strong double-digit growth in September, buoyed by a surge in demand for the country's electronic products.
Data from the National Statistics Office showed the total export bill climbed 46.1% to $5.314 billion in September from last year's level of $3.638 billion, beating August's 37% growth.
Month on month, exports rose 11.7% from the $4.758 billion posted in August.
Meanwhile, aggregate merchandise exports for the period January to September 2010 increased by 38.5% to $38.298 billion from $27.649 billion registered during the same period in 2009.
Electronic products, the country's main export item with a share of 65.5% of the total bill, surged by 54.6% to $3.478 billion from last year's $2.250 billion.
Singapore was the Philippines' top market, accounting for 24.2% of the total exports at $1.283 billion.
Japan came in second, with $765.85 million, followed by China ($669.74 million), US ($558.68 million), and Hong Kong ($383.99 million).
The government expects exports to climb 15% this year, and imports are forecast to increase 20%.
The electronics industry group, meanwhile, expects its exports to climb by 25% to 30% this year.
As demand from the country's trading partners continues to improve alongside with the global economy, the government is confident it can beat its growth targets this year.

No comments: