PHILIPPINE exports grew 19.1% in April to $4.30 billion from $3.61 billion in the same month last year, according to the National Statistics Office.
Compared to March receipts of $4.35 billion though, April exports were down 1.2%.
From January to April, receipts jumped 10.6% to $16.519 billion from $14.943 billion year-on-year.
Accounting for 49.9% of the April total, electronic products were the country’s top exports at $2.146 billion, a 2.1% dip from $2.193 billion registered in April 2010. Month-on-month, exports of the commodity grouping contracted 4.1% from $2.239 billion in March.
Coconut oil was the second top earner in April with receipts of $194.03 million, up 80.9% from April 2010’s $107.25 million.
Cathodes were the third top exports at $175.58 million, soaring 204% from $57.75 million in April 2010.
Accounting for 17.3% of the April aggregate was Japan which bought $741.88 million worth of Philippine goods, up 20.2% from $617.10 million year-on-year.
The second biggest buyer of local products in April was the US. Exports to that country slipped 1.3% to $567.38 million from $574.61 million in April 2010.
China came in third with shipments amounting to $490.26 million, 36% more than $360.40 million recorded last year.
This year, the government is sticking to its 10% export growth target with such markets as the Association of Southeast Asian Nations taking the slack from Japan which was devastated by an earthquake and tsunami in March.
By 2016, the Philippines eyes exports of $120 billion.
