Tuesday, a report by the National Statistics Office of Philippines said that total exports dropped 18.3% on a yearly basis in September, slower than the revised 21% fall in the previous month. Economists had expected exports to fall 17.8%. Month-on-month, exports rose 4.6%, slower than the 4.9% rise in the preceding month.
Exports of electronic products, accounting for nearly 62% of total export revenue, slipped 13.2% year-on-year in September, after the revised 18.7% drop in the previous month. On a monthly basis, electronic exports climbed 9.3%, following the 7.5% increase in the preceding month.
Exports to the U.S., the main export market of the Philippines, dropped 19.7% year-on-year in September. Exports to Japan, the second largest export market, slid 5.4%.
In the first nine months of the year, total exports amounted to $27.64 billion, representing a drop of 29% from the same period last year.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.