Philippines May exports pick up speed
Wednesday, 11 July 2007
MANILA, July 10 (AFP): Philippine exports picked up pace in May, rising 6.1 per cent from a year earlier to 4.12 billion dollars in May as demand for electronics increased, the government said today.
The national statistics office said May exports grew at a slightly faster clip than the revised 5.1 per cent in April.
Shipments of electronics, which accounted for 62.1 per cent of total exports in May, climbed 11.8 per cent year-on-year to 2.56 billion dollars.
However, exports of articles of apparel and clothing accessories, the second-biggest dollar earner, were down 23.6 per cent to 182.32 million dollars in May.
Petroleum and mineral exports were also up as did agricultural products, but machinery and transport equipment shipments fell, owing to weaker Japanese demand, Economic Planning Secretary Romulo Neri said.
The national statistics office said May exports grew at a slightly faster clip than the revised 5.1 per cent in April.
Shipments of electronics, which accounted for 62.1 per cent of total exports in May, climbed 11.8 per cent year-on-year to 2.56 billion dollars.
However, exports of articles of apparel and clothing accessories, the second-biggest dollar earner, were down 23.6 per cent to 182.32 million dollars in May.
Petroleum and mineral exports were also up as did agricultural products, but machinery and transport equipment shipments fell, owing to weaker Japanese demand, Economic Planning Secretary Romulo Neri said.