MANILA, Philippines (Xinhua) - Philippine export revenues in April declined 12.8 percent on year to $4.041 billion due to a sharp decline in exports to the US and China, the National Statistics Office (NSO) reported today.
The US and China are two of the top export markets for Philippine products, accounting for more than 25 percent of the total market share. In April, export earnings to the US decreased 10.2 percent on year to $608.11 million. Revenues from exports to China declined by 8.3 percent to $456.58 million.
The country's exports in other key markets like South Korea and Singapore also declined.
The NSO said that export revenues from electronics - the country's top export product - reached $1.63 billion in April, a dip of 0.4 percent year on year. Month-on-month, the income from electronic products was down by 7.2 percent from $1.757 billion posted in March.