RP exports rise 9.9 percent

RP exports rise 9.9 percent

MANILA (AFP): Philippine merchandise export receipts rose 9.9 percent from a year earlier to US$3.529 billion in August, in line with the growth of the leading electronics sector, the national statistics office said Tuesday.

Electronics component exports, which make up 62.1 percent of the Philippine total, rose 9.9 percent to $2.192 billion.

Garments, the second export, fell 2.8 percent from a year earlier to $244.86 million.

Among the other top dollar earners, ignition wiring sets shipments grew 3.3 percent, furniture rose 8.3 percent, coconut oil surged 110.51 percent, and petroleum products increased 71.9 percent.

Eight month exports expanded 11.4 percent to $24.365 billion.