THE country’s merchandise exports continued to post a double-digit growth of 33.4 percent in June, registering export earnings of $4.55 billion from the $3.41 billion recorded in the same period last year.
Data from the National Statistic Office (NSO) also showed that the overall merchandise exports during the first half of the year also grew by 37.7 percent to $23.71 billion, from the $17.23 billion posted during the same period last year.
Electronic shipments, the country’s top export which accounted for 63.9 percent of total revenues in June, grew by 49.1 percent to $2.90 billion from $1.95 billion in June last year.
NSO said the other top earners were apparel and clothing accessories, coconut oil, woodcrafts and furniture.
Singapore emerged as the country’s top destination of exports for June, with revenues amounting to $748.83 million, higher by 201.1 percent from the $248.74 million recorded a year ago.
It was followed by the United States, with export earnings of $743.49 million or 16.4 percent of the total. Japan came in third, with shipments amounting to $659.23 million; Hong Kong at $406.28 million; and China at $403.86 million.
Other top markets for June included Germany ($262.66 million); Netherlands ($233.37 million); Korea ($210.79 million); Thailand ($153.72 million); and Taiwan ($137.19
million).
Total export receipts from country’s top 10 markets for June amounted to $3.959 billion or 87.1 percent.
Sought for comment, Philippine Exporters Confederation (Philexport) Cebu executive director Fred Escalona said the figures showed big jumps in the country’s exports considering the softening of the demand on exports during the global economic recession.
“Overall export figures show robust recovery,” Escalona said in a phone interview yesterday.
He said, however, there are still exporters outside the economic zone that are experiencing flat growth. He cited the unpredictable orders from buyers, particularly in the fashion accessories and furniture sectors.
“There is growth but the sector is experiencing a slow growth,” he said. Philexport Cebu is the umbrella organization of all export industries in Cebu.