Philippine exports rise 8.6%

Philippine exports rise 8.6%

MANILA : Philippine merchandise exports rose 8.6 percent in March from a year earlier, official data showed on Monday as analysts predicted shipments would continue to grow following the end of the Iraq war.

The country's key electronic exports are also expected to pick up in the coming months due to expectations of an economic recovery in the United States.

The National Statistics Office said in a statement on Monday that exports rose 8.6 percent to US$3.09 billion in March, compared with 3.6 percent growth in February.

Electronic components, which accounted for 64.7 percent of total exports in March, rose 0.1 percent to $2.00 billion.

"Exports should be on the way to recovery because we have seen the end of the Gulf war," said University of Asia and the Pacific economist Victor Abola.

He added even electronics exports, which earlier showed signs of softening, may improve in the coming months on expectations of a U.S. recovery. --AFP