Philippine export earnings rallied in September expanding by
22.8% to $4.784 billion from $3.897 in September 2011 and growing at the
fastest pace to date this year. According to the National Statistics Office,
growth was “brought about by the increase in value of shipments of tuna, metal
components, fresh bananas, and woodcrafts and furniture.” September’s figure
also shows a sharp rebound compared to the 9% decline in August. Other exports
that recorded year-on-year gains are ignition wiring set and other wiring sets
used in vehicles, aircrafts, and ships, petroleum products, coconut oil, and
electronic products.
Japan remains the biggest destination for Philippine exports
followed by the United States of America and the People’s Republic of China.
Among Southeast Asian nations, Singapore and Thailand register among the
country’s top ten export markets.
The export performance for September is promising and shows a
healthy demand for our products and merchandise. Amidst concerns of a global
economic slowdown, Philippine exports for this year have remained resilient,
underscored by positive growth in cumulative merchandise exports for the first
nine months of the year which recorded an increase of 7.2% to $40.067 billion
from $37.376 billion posted in the same period in 2011.(Press Release)
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