Exports up 14 pct in Oct.

MANILA, Philippines  (Xinhua) - Export revenues in October went up by 14 percent on year to $5.02 billion on the back of an increase in the shipments of electronic products, the National Statistics Office (NSO) said today.

Figures released by the NSO showed that shipments of eight other commodities posted increases during the period.

Electronic products remained as the country's top export product, accounting for 42.9 percent of export receipts in October. Shipments went up by 13.4 percent on year to $2.15 billion.

Revenues from the export of woodcrafts and furniture also increased by 26.5 percent on year to $300.8 million.

Shipments of other commodities such as machinery and transport equipment and mineral products also registered increases of more than 80 percent in October.

Despite the surge in October export receipts, NSO said export revenues in the 10-month period went up by only 1.3 percent on year to $45.08 billion. Merchandise exports a year ago rose by 7.1 percent.

Lower demand for Philippine products in the country's traditional markets prompted local exporters to admit that they would be hard pressed to meet the government's target of increasing exports by 10 percent this year.

Main buyers of Philippine products in October were Japan, the United States and China.