Home » Maritime » RP exports jump 42.5% in January

PHILIPPINE exports grew 42.5% in January to $3.578 billion from $2.511 billion in the same month last year, its biggest growth rate posted in the last 15 years.

The January figure is also higher by 8% compared to the $3.312 billion posted in the previous month.

Latest data from the National Statistics Office showed that electronic products remained the country’s top export for January, earning $2.034 billion or 51.2% higher than the $1.345 billion posted in the same month last year.

Articles of Apparel and Clothing Accessories emerged as the country’s second top gainer with a share of 3.5% and aggregate receipts of $125.05 million.

Coconut Oil followed with total revenues of $102.03 million or a share of 2.9% to the total export receipts.

Japan remained the country’s top export market for January with receipts of $579.98 million, accounting for 16.2% of the country’s aggregate income for the month. The figure increased 49.9% from $387.03 million recorded a year earlier.

The US followed with export earnings of $574.95 million or 16.1% of the total exports, higher by 25.8% from $456.92 million in January 2009.

Singapore emerged as the third biggest market in January with shipments amounting to $354.08 million or 9.9% of the total exports.

Germany ranked fourth with $299.11 million and China fifth with $296.69 million.

Rounding up the top 10 exports markets were Netherlands, $246.21 million; Hong Kong, $239.34 million; Republic of Korea, $186.13 million; Malaysia, $114.12 million; and Thailand, $110.60 million.

Total export receipts from the Philippines’ top ten markets for January amounted to $3.001 billion or 83.9% of the total.

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