MANILA, Philippines - Philippine merchandise exports cotinued to decline in September, dropping 18.3 percent year-on-year to $3.634 billion, pulled down by a contraction in electronics shipments.

Still, the decline appeared to be moderating as shipments were up 4.6 percent from the previous month, the National Statistics Office said in a statement.

The NSO said that the decline in September was the slowest since December 2008, when exports dipped 11.4 percent.

In August, shipments also grew 4.9 percent, or $3.473 billion, from that of the previous month.

In all, cumulative export revenues in the nine months to September totaled $27.369 billion, dropping by 29 percent from the $38.9 billion seen in the same period last year.

Electronics products, which accounted for 61.9 percent of total outbound cargoes, continued to fall in September, dropping 13.2 percent year-on-year to $2.25 billion due to persistently weak demand.

Copper, petroleum products, and garments were the biggest losers for the month, the NSO said.

Receipts from the country?s second top export, which were still articles of apparel and clothing accessories representing 3.1 percent of total shipments, dropped 37.1 percent year-on-year to $113.91 million.

Woodcraft and furniture, accounting for 2.4 percent of total cargoes, declined by 12.8 percent to $88.52 million.

The fourth top export with a share of 2.2 percent, automotive wiring sets, rose by 9.5 percent to $80.08 million.

Fifth at 1.8 percent of total was coconut oil, which increased by 21 percent to $65.18 million.

Also, metal components dropped by 5.8 percent to $50.95 million; petroleum products by 81.9 percent to $28.16 million; pineapple by 6.7 percent to $25.14 million; and cathodes made of copper, down by 86.4 percent to $24.24 million.

Manufactured goods represented 87.6 percent of receipts. Its aggregate value decreased by 13.3 percent to $3.184 billion in September.

Agro-based products posted a total income of $195.04 million, or a decline of 8.4 percent.

Receipts from mineral products reached $89.22 million, falling 66.8 percent.

In September, the two biggest markets for Philippine goods both showed shrinking orders for shipments.

Cargoes sent to the United States made up the biggest batch at 17.8 percent of total outbound traffic. Value of shipments decreased by 19.7 percent to $648.4 million.

Exports to Japan followed at 16.8 percent of total. It too went down by 5.4 percent to $610.39 million.