PHL exports up 7.4% in February–NSO

Philippine merchandise exports grew 7.4 percent to $4.431 billion in February from $4.123 billion in January, the National Statistics Office (NSO) said Wednesday.    February’s figures reflect a 14.6-percent increase from $3.864 billion a year earlier, NSO data showed.   Electronic products continued to dominate Philippine shipments, accounting for 52.7 percent or $2.333 billion of total exports. The receipts for this product group were 15.8 percent higher from $2.015 billion a year earlier.   Month-on-month, shipments of electronic products were up by 8.4 percent from the $2.153 billion posted earlier this year.   Semiconductors comprised 37.9 percent or $1.681billion of the total exports, up 15.9 percent from $1.451 billion year-on-year.   Woodcrafts and furniture, the second top export earner, totaled $165.53 million or 3.7 percent of total exports. This sector grew 20.2 percent from $137.72 million year-on-year.   Billed as the country’s third top export earner, articles of apparel and clothing accounted for 3.3 percent or $146.19 million of total exports. The sector reflected a 4.7 percent decline from $153.41 million.   “Total receipts from the Top 10 exports reached $3.088 billion, or 69.7 percent of the total exports,” the NSO said. —Rouchelle Dinglasan/VS, GMA News