PHL exports decline, NSO says

Philippine exports continued to decline in July, the National Statistics Office reported on Tuesday. The NSO said export revenues amounted to $4.43 billion, a 1.7-percent slide from $4.51-billion export earnings in the same month in 2010. Compared to June's $4.127 billion revenues, translating to a 9.4-percent slide, however, the export earnings in July were better. From January to July this year, exports posted a 3.3-percent improvement to $29.187 billion from $28.246 billion in the same period last year. Electronic products remained the country's top exports, accounting for 50.9 percent of the total revenue in July or $2.253 billion. Japan was the Philippines' largest market, followed by the US, China and Singapore. Other top markets were Hong Kong, Netherlands, Taiwan, Thailand, Germany and South Korea. — CMA/OMG, GMA News