PHILIPPINE exports in April grew but at a slower pace compared to previous months.
April exports increased 27.4% to $3.573 billion from $2.804 billion in the same period last year, according to the latest data from the National Statistics Office.
Compared to receipts of $4.181 billion in March, the April figure was lower by 14.5%.
Exports for the first four months of the year grew 38.9% to $14.903 billion from $10.730 billion during the same period last year.
Accounting for 61.1% of the total export revenue in April, electronic products were the country’s top export commodity with earnings of $2.183 billion. Components/devices (semiconductors), which comprised 44.9% of total exports and the biggest share among the major groups of electronic products, amounted to $1.604 billion or an annual growth of 29.5%.
Coconut oil (including crude and refined) comprised 3% of the total in April and was the country’s second top export commodity with receipts of $107.25 million.
Articles of apparel and clothing accessories followed with $106.63 million or a share of 3% to the total.
Japan was once again the country’s top export destination, accounting for 17.3% of the total for April, with revenues of $616.97 million, up 42.2% from $433.85 million recorded a year ago.
The US followed with receipts of $573.62 million or a 16.1% share of the total.
Representing 9.9% of the total, China came in third with shipments amounting to $352.83 million.
