Philippine June exports grow at fastest rate in six months

Reuters    Translate This Article
11 August 2014

* Exports in June at $5.44 bln vs yr-ago $4.49 bln

* Electronics shipments up 10.7 pct in June from yr ago

* Yr-to date exports up 8.3 pct to $29.8 bln

MANILA, Aug 12 (Reuters) - The Philippines' statistics office released data on June exports on Tuesday:

KEY POINTS:

- Total exports in the first half of the year rose 8.3 percent from the same period last year to $29.8 billion, above the government's 6 percent target for overall exports growth this year.

- Electronics and semiconductors, which made up 40.8 percent of total exports for the month, grew 10.7 percent against a decline of 2.2 percent in the same month last year.

- Other top exports in June included other manufactures, machinery and transport equipment and other mineral products.

- The Philippines' largest electronics industry group, Semiconductor and Electronics Industries in the Philippines Inc, has maintained its estimate of 5 percent growth in the sector's exports this year.

- The Southeast Asian nation provides about 10 percent of the world's semiconductor manufacturing services, including for mobile phone chips and micro processors.

(Reporting by Erik dela Cruz; Editing by Karen Lema and Eric Meijer)

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