Home » Customs & Trade » June exports slide 10%

PHILIPPINE exports further slowed in June, posting a 10.2% decline to $4.092 billion from $4.557 billion year-on-year.

Compared to the May figure of $4.108 billion, the June receipts were also lower by 0.4%, according to the National Statistics Office.

From January to June, total export receipts grew 4.1% to $24.721 billion from $23.741 billion during the same period last year.

Accounting for 54% of the total in June, electronic products emerged as the country’s top export with earnings of $2.211 billion. This is down 23.9% from $2.905 billion in the same month last year but up 17.2% from $1.886 billion posted in May 2011.

Shipments to Japan comprised 22.8% of the aggregate, making that country the Philippines’ top export destination with revenues reaching $932.24 million, up 41.1% from $660.65 million recorded a year ago.

The US settled for second spot with a 14% market share and earnings of $572.28 million representing a 23.1% decrease from $744.59 million of a year earlier.

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