SUMMARY
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MANILA, Philippines – Merchandise exports dropped 12.8% in April on lower shipments of electronics and other goods.
Data from the National Statistics Office (NSO) showed the country’s export revenues fell to $4.041.25 billion in April from $4.635.17 billion a year ago. The revenues also contracted 6.6% from March’s $4.328.98 billion.
Shipments of electronic products, the top export group with a 40.3% share, inched down 0.4% to $1.630 billion from $1.635 billion.
Apart from electronics, NSO said shipments of other manufactures and machinery and transport equipment also went down.
Other manufactures recorded export revenues of $362.42 million, down 51.9% year on year.
Exports of machinery and transport equipment declined 34.8% to $196.65 million.
Top markets
Exports to two of the country’s largest markets contracted in April.
Export revenues coming from the US, the country’s top 2 market, fell 10.2% to $608.11 million. This country accounted for 15.1% of the total receipt.
China, the third biggest market with an 11.3% share, bought $456.58 billion worth of Philippine goods, down 8.3%.
Japan, including Okinawa, was the Philippines’ top market, with a 23.3% share. Exports to this country rose 27.5% to $942.26 million in April from the year before. – Rappler.com
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