President Aquino tours and views the exhibit on the promotion and advancement of solutions and initiatives on energy efficiency during the Energy Smart Philippines (ESPhil) 2014 in Pasay City (MNS photo)
MANILA (Mabuhay) – Philippine exports declined by a steep 17.4 percent in May, as seven major commodities registered decreases, data released Friday by the Philippine Statistics Authority (PSA) showed.
“Export sales totaled $4.899 billion in May 2015, a 17.4 percent decrease from the $5.932 billion recorded in May of 2014,” the PSA said.
“The negative growth was mainly brought about by the decrease in seven major commodities out of the top ten commodities for the month.
“These include other mineral products, machinery and transport equipment, other manufactures, electronic products, articles of apparel and clothing accessories, and ignition wiring set and other wiring sets used in vehicles, aircrafts and ships,” the PSA added.
Merchandise exports for the first five months of 2015 registered a 5.0 percent drop to $23.526 billion from $24.772 billion in the same comparable period.(MNS)