PHL exports up 4.6% in Q1, reports NSO 

The Philippine merchandise exports went up 4.6 percent in the first quarter of the year to $12.856 billion from $12.286 billion a year earlier, the National Statistics Office (NSO) reported Thursday.   However, March exports declined by 1.2 percent to $4.302 billion from $4.356 billion posted in the same period last year, according to NSO.    NSO noted that month-on-month the exports reflect the 2.9-percent downtrend from February’s $4.430 billion.   In a, NSO Administrator Carmelita Ericta noted that electronic exports– accounting for 52.6 percent of total exports–inched up by 1.1 percent in March to $2.263 billion from $2.239 in the same period last year.   Month-on-month, shipments of electronic products went down by 3.1 percent from last February’s $2.334 billion.   Following the downtrend, semiconductors–comprising 38.9 percent of total exports–dipped 3 percent to $1.1672 billion in March from $1.724 billion registered a year earlier. Semiconductors is a major group in the electronics sector.   Articles of apparel and clothing accessories, the second top export earner in March, increased by 2.3 percent to $152.28 million from $148.82 million year-on-year.   The United States topped the list of Philippine-product destinations with a 15.5-percent share of the total March exports amounting to $668.25 million.   Japan, February’s top importer, dropped to second place in March, buying $664.78 million from the Philippines.   People’s Republic of China came third, getting $642.07 million worth of export products, while Singapore followed came fourth with $410.35 million.   Hong Kong completes the Top 5 buyers of Philippine products, buying $392.12 million. —Rouchelle Dinglasan/VS, GMA News