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Exports Surge 42.5% in January 2010 |
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According to the National Statistics Office (NSO) Philippine exports rose by 42.5% in January 2010 compared with the figures in same month of 2009. Last year’s export figures showed a steep drop of 41% to US$ 2.49 billion, while January 2010’s volume more than made up for 2009’s decline by registering a very sharp increase to US$3.58 billion.
On a month-to-month basis, the January 2010 export volume was also higher by 8% compared to the December 2009 volume at US$3.31 billion. Electronics led the sharp increase in the product classification rising by 51% against the year ago total. It also accounted for 57% of total Philippine exports for the month of January. Other products that also registered strong gains were coconut oil, ignition wiring sets for vehicles and aircraft, petroleum products and metal components. Economists still think that the country will still post a positive growth rate, despite the dire effects of the El Nino-induced drought on farm output, due to the strong showing of the export sector.
Source: Mania Bulletin |
