PHILIPPINE exports continued their ascent, with March receipts growing 43.7% to $4.176 billion from $2.907 billion posted in the same month last year, according to the latest National Statistics Office (NSO) data.
The strong performance of the export sector kicked up the country’s aggregate merchandise exports for the first quarter to $11.326 billion or 42.9% higher than the $7.926 billion registered during the same period in 2009.
Accounting for 57.9% of the total export revenue in March, electronic products were the country’s top export with earnings of $2.416 billion, up 49.1% from $1.620 billion in March 2009. Components/devices (semiconductors) which comprised 41.9% of the total and formed the biggest share among the major groups of electronic products amounted to $1.749 billion or an annual growth of 49.1%.
With a 3.5% share of the March total, articles of apparel and clothing accessories emerged as the country’s second top export commodity with revenues of $146.07 million.
Cathodes and sections of cathodes/refined copper followed with earnings of $111.53 million or a share of 2.7% to the total.
The US regained the top spot as the main destination for the country’s export products in March, accounting for 16.8% of the total with revenues amounting to $703.32 million.
Japan came in next with earnings of $682.49 million or 16.3% of the total.
China representing 11.7% of total exports was third with shipments reaching $487.32 million.
