How much did the Philippines export in merchandise goods in August 2010?

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How much did the Philippines export in merchandise goods in August 2010?

Fri, 07/22/2011 - 14:56

What is Philippine exports in August 2010?
Magkano ang total exports ng Pilipinas?

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Merchandise exports of the

Fri, 07/22/2011 - 14:57

Merchandise exports of the Philippines grew 36.6 percent year-on-year to 4.7 billion in August 2010, according to the National Statistics Office (NSO).

This put the Philippines in the top of the list of countries in Asia with highest in exports growth in August 2010.  The August figure may also enable the government to exceed its export growth target for the year, according to the National Economic and Development Authority (NEDA).

“With a 36.6 percent year-on-year increase, the Philippines joined Vietnam as top performers among neighboring Asian economies  in terms of export growth in August,” according to NEDA officer-in-charge Rolando Tungpalan. 

“At this rate, we are optimistic that the country could exceed the 2010 exports growth target of 15 percent," Tungpalan said.

Other than the Philippines and Vietnam (48.4 percent), Asian peers such as Hong Kong SAR (36.0 percent), China (34.4 percent), Indonesia (30.0 percent), and South Korea (27.7 percent) also posted strong gains in exports.

Philippine exports for the month were valued at $4.7 billion, led by outward shipments of manufactured goods, which grew 36.3 percent, and agro-based products, which grew 75.4 percent.

This marked ten consecutive months of positive year-on-year growth since November 2009.

For January to August 2010, cumulative export receipts amounted to $33 billion, up by 37.3 percent from the same period in 2009.

Exports of manufactured goods, which grew 36.3 percent in August this year compared to last year, were supported by the strong 45.3 percent growth in electronic products.

The brisk outward shipments of semiconductor components and devices reflected the strong growth in global sales in August, which increased by 32.6 percent based on figures from the Semiconductor Industry Association (SIA).

“Strong personal computers and wireless related products along with infrastructure expansion in emerging markets, particularly China and India,continue to drive sales,” said Tungpalan, quoting the SIA.

Tungpalan also noted that semiconductor exports are expected to post positive growth in the coming months, with the North American Semiconductor Equipment Industry recording a book-to-bill ratio of 1.17 for August 2010.

Meanwhile, coconut and sugar products led the growth in agro-based exports.

“Local exporters of coconut products took advantage of favorable prices in the world market, which saw copra and coconut oil prices increasing by more than 50 percent from a year ago, to record a 148.1 percent uptick,” Tungpalan said.