MANILA, Philippines?Shrinking Philippine exports moderated their annual decline to single digits in October for the first time this year, suggesting improving demand in some key markets, the government said Thursday.

October shipments fell 8.3 percent from a year earlier to $3.66 billion, but were up 0.7 percent from the September 2009 total, the National Statistics Office said in a statement.

Key electronics exports dropped 7.4 percent from the previous year, and down 3.9 percent from the previous month, to $2.16 billion. Exports of sugar, bananas as well as ignition wiring sets for vehicles, aircraft, and ships all posted significant growth.

October shipments to the Netherlands and Germany, the country's number-three and number-four export markets, both posted double-digit growth from a year earlier, while exports to the top two markets, the United States and Japan respectively, both fell by single digits.