Philippine exports rebounded in January, rising 3% to $4.121 billion from $4 billion in the same month last year, according to data from the National Statistics Office.
The increase marks the first after eight consecutive months of decline starting May 2011.
Month-on-month, receipts went up 21% from December’s $3.407 billion.
Accounting for 52.2% of the total, electronic products were the country’s top export s with receipts hitting $2.152 billion, up 0.4% from $2.142 billion in January 2011.
Woodcrafts and furniture followed with $189.62 million or a share of 4.6% to the total. The latest figure jumped 79.5% from last year’s $105.66 million.
Exports of articles of apparel and clothing accessories reached $170.87 million, a 5.2% rise from $162.37 million.
Japan accounted for 17.2% of the January total and emerged as the country’s top export destination with revenues amounting to $706.92 million. This is higher by 11.3% from $634.87 million recorded a year ago.
Eating up 16% of the aggregate was the US with export earnings worth $657.58 million, representing a 23.5% increase from $532.29 million.
China came in third with $589.99 million from $467.55 million, an improvement of 26.2%.
