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