Thursday, 11 February 2010

Exports bounce back 23.6% in December

EDU LOPEZ
Manila Bulletin
http://mb.com.ph/articles/242834/exports-bounce-back-236-december

The country’s exports bounced back in December 2009 with a 23.6 percent growth to $3.304 billion compared to $2.675 billion in December 2008.

The National Statistics Office (NSO), however, noted that export earnings on a monthly basis declined by 11 percent from $3.712 billion in November 2009.

Total exports in 2009 also dropped by 21.9 percent from $49.078 billion to $38.327 billion registered during the same period in 2008.

Electronic products remained the country’s top export in December 2009 with total export revenue of $1.881 billion, up by 41 percent from $1.335 billion in December 2008.

Semiconductors which comprised 39.2 percent of the total exports amounted to $1.295 billion, an annual increase of 36.9 percent. Month-on-month, electronic products went down by 12.4 percent from $2.148 billion in November 2009.

Earnings from apparel dropped by 18 percent to $131.54 million from $159.96 million in December 2008.

Coconut oil posted total export earnings of $87.40 million in December 2009 rose by 14.4 percent from $76.40 million in December 2008.

Ignition wiring sets grew by 85.3 percent from its year ago level of $46.22 million. Furniture exports declined by 16.1 percent to $68.16 million from $81.25 million registered in December 2008.

The other top exports in December 2009 were metal components with export earnings of $47.41 million up by 21.1 percent; copper concentrates with $35.33 million in revenue, up by 739.2 percent, the highest increase among the top ten exports in December 2009; petroleum products recorded sales amounting to $32.00 million, up by 118.9 percent; and cathodes with export revenue of $26.89 million, down by 49.4 percent.

The US which comprised 19 percent of the total exports in December 2009 remained the country's top export market with revenue amounting to $627.86 million, up by 9.4 percent from $573.98 million recorded a year ago.

Japan was the second top market with export earnings of $507.46 million. up by 11 percent from $457.68 million reported in December 2008.

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