Sep 102013

MANILA, Philippines – The country’s merchandise exports increased by 2.3 percent to $4.836 billion in July 2013, up from the $4.727 billion posted in the same period last year, the National Statistics Office reported on Tuesday.

Machinery and transport equipment, woodcrafts and furniture, chemicals, electronic products, and cathodes and sections of cathodes of refine copper supported the country’s exports, which grew by 7.7 percent from the $4.49 billion posted in June 2013.

On the other hand, aggregate merchandise exports for the first seven months of the year dropped by 3.4 percent to $30.422 billion from the $31.487 billion posted in the same period last year.

Electronic products, the country’s top export, accounted for 39.1 percent of the total export receipts at $1.893 billion, although it dropped by 5.6 percent from the previous month’s $2.006 billion.

In terms of groups, manufactured goods made up 79.3 percent of the total export receipts, followed by mineral products (8.2 percent), total agro-based products (7.6 percent), special transactions (2.5 percent) and forest products (0.1 percent).

Japan was the country’s top export destination with an 19.8-percent share, followed by China (13.2 percent), United States (12.6 percent), Hong Kong (8.5 percent) and Singapore (6.8 percent).

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