MANILA, Philippines – Merchandise exports continued to decline in May due to weak electronics shipments, but the rate of fall slowed down from the previous month, the National Statistics Office reported Wednesday, July 10.
The country exported $4.890 billion worth of goods in May, down 0.8% from $4.931 billion in the same month of 2012, NSO data showed. The drop was lower than the 11.1% contraction recorded in April.
Exports for the first 5 months likewise fell 6% to $22.445 billion from $21.093 billion last year.
Electronics shipments, the largest export group accounting for 35.4% of the total bill, went down 9.3% to $1.731 billion in May from $1.908 billion the year before. – Rappler.com