PHILIPPINE exports in May grew 37.3% to $4.239 billion compared to the $3.088 billion posted in the same month last year, according to latest data from the National Statistics Office.
May earnings were also higher by 17.9% from the $3.595 billion registered in April 2010.
For the first six months of the year, exports also grew 38.7% to $19.164 billion from $13.818 billion during the same period in 2009.
Electronic products were once again the country’s top export commodity in May with total earnings of $2.554 billion, up 41% from $1.811 billion in May 2009.
Articles of apparel and clothing accessories followed with earnings of $150.97 million, accounting for 3.6% of the total.
Representing 2.6% of the total in May, coconut oil (including crude and refined) emerged as the country’s third top gainer with revenues valued at $110.13 million. This commodity group also exhibited the highest increase among the top ten exports with 188.8% from $38.14 million in May 2009.
The US emerged as the country’s top export destination in May with revenues of $687.55 million and accounting for 16.2% of the total.
Japan followed with earnings of $616.93 million or a 14.6% share.
Singapore, representing 10.4% of the total, came in third with shipments amounting to $442.36 million.
