Exports continue slide for 11th straight month
11/10/2009 | 12:03 PM
Philippine exports continued to bear the brunt of the worldwide economic slump, contracting for the 11th straight month in September, the government reported on Tuesday.
The National Statistics Office said export earnings dipped 18.3 percent to about $3.634 billion from earnings of about $4.446 billion in September last year.
Philippine exports started posting negative growth since October last year.
Compared, however, with the 21-percent decline in August, September's earnings were an improvement by 4.6 percent.
For the first nine months of the year, the Philippines ' export receipts declined by 29 percent to $27.639 billion.
Accounting for about two thirds of the country's produce sold abroad, electronic products earnings slipped 13.2 percent to $2.25 billion.
The US remained the Philippines ' largest market, comprising 17.8 percent of the total exports.
Japan was the second-largest market with a 16.8-percent share.
Other top markets were Hong Kong , Netherlands , Germmany , China , South Korea , Thailand , and Taiwan , respectively. - Cheryl M. Arcibal, GMANews.TV
The National Statistics Office said export earnings dipped 18.3 percent to about $3.634 billion from earnings of about $4.446 billion in September last year.
Philippine exports started posting negative growth since October last year.
Compared, however, with the 21-percent decline in August, September's earnings were an improvement by 4.6 percent.
For the first nine months of the year, the Philippines ' export receipts declined by 29 percent to $27.639 billion.
Accounting for about two thirds of the country's produce sold abroad, electronic products earnings slipped 13.2 percent to $2.25 billion.
The US remained the Philippines ' largest market, comprising 17.8 percent of the total exports.
Japan was the second-largest market with a 16.8-percent share.
Other top markets were Hong Kong , Netherlands , Germmany , China , South Korea , Thailand , and Taiwan , respectively. - Cheryl M. Arcibal, GMANews.TV
