SUSTAINED demand for the country’s electronics products pushed the country’s exports to rise 35.9% in July to $4.502 billion from a year earlier.
This marks the eighth consecutive month when exports posted positive year-on-year growth, according to the National Statistics Office.
July’s increase was faster than the 33.7% yearly jump registered in June. It is also a far cry from the 25.3% decline in the same month last year.
Vis-à-vis the $4.555-billion export earnings in June, though, July’s shipments actually declined 1.2%.
Export receipts from January to July amounted to $28.233 billion, rising 37.4% from $20.538 billion in the same period last year.
In July, exports of electronics products jumped 49.4% to $2.862 billion year-on-year.
Electronics represented 63.6% of total exports.
Singapore was the country’s top market in July, with shipments of $793.74 million, an increase of 275.4%. The Southeast Asian country accounted for 17.6% of the total traffic.
Exports to the US grew 23.2% to $719.35 million, and made up 16% of total shipments. Japan was the country’s third top market, representing 12.7% of total, up 3.7% to $570.98 million.
