RP March exports down 2.8 percent

RP March exports down 2.8 percent

MANILA: Faltering global demand for electronics products saw Philippine merchandise exports fall 2.8 percent from a year earlier to US$3.26 billion in March, the government said on Tuesday.

The fall followed a 0.6 percent decline in February, the National Statistics Office (NSO) said.

Electronics exports, which accounted for 66.4 percent of total shipments, fell 3.7 percent to $2.16 billion in March after declining 0.9 percent in February.

For the three months to March, however, total exports were still up 3.6 percent from a year earlier to $9.52 billion, the NSO said. The government is looking at an 8 percent rise in exports this year after growth of 7.5 percent to $40.3 billion in 2004. -- AFP