PHILIPPINE exports grew 1% to $29.489 billion in the first ten months of the year from $29.191 billion during the same period in 2002, according to the latest data from the National Statistics Office.
October exports went up 6.2% to $3.223 billion compared with the $3.033 billion generated during the same month last year.
Electronic products, which accounted for 68.5% of the aggregate export revenue for October, remained the top commodity registering an increase of 6.3% to $2.208 billion from $2.077 billion last year. Among the major groups of electronic products, components/devices (semiconductors) dominated with a 47.8% share to total exports. Exports of the group rose 6.4% to $1.539 billion from $1.446 billion during the same period last year.
Overall receipts for the top ten exports hit $2.668 billion, or 82.8% of the total.
Most export commodities (18.3%) were delivered to Japan at a value of $589.48 million in October, up 36.8% from last year’s $430.78 million.
The US was the next biggest destination for Philippine exports with a 16.2% share. At $521.64 million, exports to the US dropped 23.2% from $679.43 million.
