Exports up 21.3 pct in June

MANILA, Philippines (Xinhua) - Philippine export earnings expanded by 21.3 percent on year to $5.44 billion in June on the back of higher shipments of electronic products, the local statistics agency said today.

The Philippine Statistics Authority (PSA) said electronic products remained as the country's top export, accounting for more than 40 percent of revenues during the period.PSA figures show that earnings from electronic products grew 10.7 percent on year to $2.22 billion.

Revenues from goods classified as other manufactures jumped by 67.8 percent on year to $538.67 million. Other manufactures were the second top earner in June.

The country's other top export commodities such as machinery and transport equipment, other mineral products, woodcrafts and furniture also posted increases in receipts during the period.

PSA said outbound shipments of manufactured goods rose by 15.7 percent on year to $4.3 billion. Manufactured goods accounted for nearly 80 percent of total export receipts.

Top buyers of Philippine products in June were Japan, China, the United States and Singapore.

Export earnings in the January to June period went up by 8.3 percent on year to $29.8 billion, from $27.51 billion recorded in the same period last year. Based on PSA figures, the Philippines posted the highest increase in export earnings in June.