Philippine export growth in March hits record high of 43.7 pct

13:32, May 12, 2010      

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Philippine export revenues in March rose to an all time high of 43.7 percent to 4.18 billion U.S. dollars as the global recovery spurs demand for electronics.

This was the highest year-on-year export revenue growth posted since 1981.

Electronics shipment accounts for roughly 60 percent of the country's export receipts. Electronics raked in 2.42 billion U.S. dollars in March, up 49.1 percent on year.

Other major export products, including wiring sets, coconut oil and cathodes, also posted significantly higher growth in its exports receipts for March. Earnings from exports of cathodes rose by 113.6 percent, while the value of coconut oil shipments soared by 212.9 perce.

The three biggest export markets in March were the U.S., Japan and China.



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