Lower electronics shipments pushed Philippine merchandise exports 6.8 percent down from a year earlier to $ 4.18 billion in March after enjoying 10.5 percent growth in February, the government said yesterday.
Total exports in the three months to March reached $ 12.524 billion, up 2.7 percent from the same period in 2007, the National Statistics Office said.
Electronic products which account for 58.5 percent of total exports in March, fell 17.4 percent to $ 2.444 billion, the agency said in a statement.
Japan bought $ 710.9 million or 17 percent of the total Philippine exports for the month, an 18.5 percent increase.
The United States received $ 683.12 million of exports or 16.3 percent, one percent higher than in the same period last year.
China was number three, buying $ 549.12 million worth or 13.1 percent and a 13.2 percent increase over the same period last year.
Apparel and clothing, which made up four percent of total exports for the month, also fell 9.5 percent to $ 166.77 million.
Woodcrafts and furniture, ranked third with total revenue of $ 108.23 million in March 2008, reflecting an 11.9 percent climb from $ 96.74 million in March 2007.
Cathodes and sections of cathodes of refined copper, rankef fourth in March 2008 with sales amounting to $ 94.98 million or a growth of 21.4 percent from $ 78.24 million in March 2007.
Petroleum products, ranked fifth with export receipts of $ 86.23 million or year on year growth of 65 percent from $ 25.26 million in March 2007.
Rounding up the list of the top ten exports for the month of March were Ignition wiring set and other wiring sets used in vehicles, aircrafts and ships consisted only of electrical wiring harness for motors vehicles, $ 86.09 million or an increase of 17.8 percent; Coconut oil with an export valued at $ 81.42 million, an increase of 205.3 percent; Other products manufactured from materials imported on consignment basis, $ 67.27 million, declined of 13.6 percent; Metal componets with proceeds billed at $ 46.62 million increased of 2.4 percent; and Gold extracted from copper ores and concentrate, with export revenue of $ 36.22 million or 79.85 percent growth from March 2007 level.
Total receipts from the top ten exports reached $ 3.218 billion or 77 percent of the total exports.
|
