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Philippine Feb. Export Growth Accelerates

Philippines exports grew at a faster pace in February due to higher electronic shipments, the National Statistics Office said Thursday.

Export earnings rose 14.6 percent year-on-year in February, after climbing 3.1 percent a month ago. On a monthly basis, exports advanced only 7.4 percent compared to a 21 percent rise in January.

Accounting for 52.7 percent of the total exports revenue in February, electronic products emerged as the nation's top export with total receipts of $2.33 billion. It went up by 15.8 percent from the previous year. In January, shipment of electronic products moved up 0.5 percent.

Japan was the country's top destination of exports with revenue amounting to $796.56 million. It was higher by 19.7 percent from the previous year.

The United States of America ranked second and People's Republic of China accounting for 13.3 percent share to total exports came in third, the statistical office said.

by RTT Staff Writer

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