The Philippines’ 22.8-percent jump in exports in September was the best among East and Southeast Asian countries for the period, the National Economic and Development Authority said on Tuesday.
The Philippines emerged on top of countries in the region that posted positive exports growth, which includes Hong Kong (15.8 percent), Vietnam (15.6 percent), Taiwan (10.4 percent), China (9.9 percent), and Thailand (0.2 percent).
“The strong export performance mainly reflected the moderate improvement in global economic activity as industrial production and business confidence indicators showed signs of recovery,” said NEDA deputy director general Emmanuel Esguerra.
Other countries reported a decline in exports in September, with Japan recording the steepest fall (-11.8 percent), followed by Indonesia (-9.4 percent), Singapore (-4.8 percent), and South Korea (-2.0 percent).
Esguerra also said that the Philippines is also one of four countries in East Asia and Southeast Asia to have posted positive exports growths in the first three quarters of the year. With 7.2-percent growth for the period mounting to $40.1 billion, the Philippines follows Vietnam (18.3 percent) and China (7.4 percent). Hong Kong's exports grew 1.8 percent in the first nine months to September. — BM, GMA News