RP exports up 16.8% in September

RP exports up 16.8% in September

MANILA: Philippine merchandise exports grew 16.8 percent in September from a year earlier, led by growth in the electronics industry, the National Statistics Office (NSO) said Monday.

The exports, amounting to US$3.1 billion, reflected a 17 percent increase in electronics shipments to $1.69 billion.

Electronic components remained the country's top export earner, accounting for 53 percent of revenue in September. This was followed by apparel and clothing accessories which grew 39.4 percent and accounted for 8.1 percent of total exports at $257.6 million.

The United States was the country's top market, buying a total of $833.54 million worth of Philippine goods and accounting for 26 percent of export receipts.

Japan came in second with a 13.7 percent share, buying a total of $436.9 million worth of exports, the NSO said.

Exports for the January to September period increased 8.8 percent to $26.03 billion from $23.9 billion in the same period last year. -- AFP