Philippine Export Update

Philippine merchandise exports rose to US$ 4.739 billion in October this year, up 25.4 percent from US$ 3.748 billion a year ago, the National Statistics Office (NSO) said Friday.

On a monthly basis, however, merchandise exports went declined 11 percent from the US$ 5.325 billion in September due to weak shipments of electronic products — the country’s key merchandise export.

Exports expanded at a record high of 46.4 percent last September.

In the first 10 months, exports earnings jumped 37.1 percent to US$ 43.047 billion from US$ 31.397 billion in the same period last year.

Electronics, which accounted for 63 percent of the country’s total export revenues in October rose 38.2 percent to US$ 2.99 billion from US$ 2.16 billion posted in October last year.

On a month-on-month, electronic products, however, decreased by 14.1 percent from US$ 3.478 billion in September.

Sales of articles of apparel and clothing accessories amounted to US$ 145.13 million, up 24.6 percent from US$ 116.44 million in October last year.

Coconut oil (including crude and refined) recorded an increase of 81.8 percent in exports from US$ 77.29 million last year.

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