Quantcast
Latest Stories

Export earnings down 15.6% in February to $3.74B

By

The value of Philippine exports fell 15.6 percent year on year to $3.74 billion in February, much worse than the decline in January, as hints of a recovery in electronics failed to materialize.

Compared to the shipments in January worth $4.01 billion, February exports represented a decrease of 6.7 percent.

The latest figures from the National Statistics Office showed that exports in December, which jumped 16.5 percent, capped a four-month rally.

NSO data also showed that the decline in the value of electronics products—the top export item that accounted for about two-fifths of total outbound cargoes—reached the worst in three months at -36.6 percent year on year to $1.48 billion in February.

Electronics shipments continued to fall as cargoes of semiconductor components and devices—which constituted three-tenths of total exports—similarly shrank by two-digit rates for the second month in a row.

NSO data further showed that receipts from the country’s second top export, “other manufactures,” improved by 52 percent to $324.11 million. Metal components placed third, with the value quadrupling to $290.66 million.

Fourth on the list were woodcraft and furniture, which jumped 33 percent to $219.22 million. Fifth were articles of apparel and clothing accessories, which eased by one percent to $144.7 million.

Also on the list of top 10 earners were automotive wiring sets, up 26 percent to $137.89 million; machinery and transport equipment, down 64 percent to $131.5 million; chemicals, up 10 percent to $122.4 million; special transactions, down 38 percent to $90.37 million; and coconut oil, up 246 percent to $79.43 million.

In February, Japan was the Philippines’ top export market with 19 percent of total outbound shipments, but the value fell 11 percent to $705.93 million. Exports to the United States followed with 16 percent of the total but valued at $594.9 million, down 14 percent. China placed third with 10 percent of cargoes, down 35 percent to $380.67 million.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: export earnings , Exports , Philippines , Trade



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Henares on Pacquiao bashing: I did not start this
  • Drilon, Nancy Binay urge Filipinos to strengthen faith
  • ‘Yolanda’ toll now at 6,300 – NDRRMC
  • ‘Mom, I love you,’ says text from student on sinking ferry
  • Moderate earthquake jolts southern Iran
  • Sports

  • Power Pinays smash India in Asian Women’s Club volleyball opener
  • PH youth boxers off to stumbling start in AIBA World tilt
  • Durant has 42, Thunder beat Pistons 112-111
  • Walker leads Bobcats over Bulls in OT, 91-86
  • Man City slips further out of title contention
  • Lifestyle

  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Clams and garlic, softshell crab risotto–not your usual seafood fare for Holy Week
  • Moist, extra-tender blueberry muffins
  • Entertainment

  • Will Arnett files for divorce from Amy Poehler
  • American rapper cuts own penis, jumps off building
  • Jay Z to bring Made in America music fest to LA
  • Why Lucky has not bought an engagement ring for Angel
  • Derek more private with new girlfriend
  • Business

  • Asia stocks fail to match Wall Street gains
  • Fired Yahoo exec gets $58M for 15 months of work
  • PH presses bid to keep rice import controls
  • PSEi continues to gain
  • Number of retrenched workers rose by 42% in ’13
  • Technology

  • Netizens seething in anger over Aquino ‘sacrifice’ message
  • Filipinos #PrayForSouthKorea
  • Taylor Swift tries video blogging, crashes into fan’s bridal shower
  • DOF: Tagaytay, QC best at handling funds
  • Smart phone apps and sites perfect for the Holy Week
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Syria most dangerous country for journalists, PH 3rd—watchdog
  • Japan says visa-free entry still a plan
  • First Fil-Am elected to Sierra Madre, Calif. city council
  • UC Irvine cultural night to dramatize clash of values in immigrant family
  • Filipino sweets and info served at UC Berkeley Spring Fest
  • Marketplace