In April, merchandise exports expanded 19.1% over the same month last year to reach USD 4.3 billion, which was well above the 4.1% rise observed in March. Improved export performance mainly reflects a rebound in shipments of manufactured goods, which grew 9.8% year-on-year in April, contrasting the 1.8% decline recorded in March. Furthermore, exports of agro-based products increased 89.2% in April (March: +49.7% yoy) bolstered by shipments of coconut oil. Japan remained the top destination of the Philippine exports, which accounted for 17.3% share of total exports. With the strong export expansion in April, the moving three-month sum of exports reached USD 12.5 billion, which was above the USD 12.2 billion registered in the three months to March. At the current level, exports still sit below the pre-crisis peak of USD 13.3 billion registered in August 2008 but have recovered substantially from the USD 7.7 billion trough recorded in the three months to February 2009.
Exports accelerate in April as manufactured good shipments rebound
June 10, 2011
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Philippines Economic News
October 17, 2016
In August, cash remittances from Overseas Filipino Workers (OFW) grew 16.3% from the same month of last year to USD 2.3 billion.
October 13, 2016
The Philippines’ exports declined for the seventeenth consecutive month in August mainly due to weak demand from Japan, Hong Kong and the USA. Exports dropped an annual 4.4%, which followed July’s sharper 13.0% decrease.
October 6, 2016
In September, consumer prices rose 0.2% from the previous month, marginally up from August’s 0.1% increase.
September 22, 2016
At its meeting on 22 September, the Central Bank decided to leave the Overnight Reverse Repurchase facility (RRP) unchanged at 3.00% as the markets had expected.
September 15, 2016
In July, cash remittances from Overseas Filipino Workers (OFW) dropped 5.4% over the same month last year to USD 2.1 billion.