Philippine export earnings rose by 10.5 percent on year to 5.47 billion U.S. dollars in August on the back of higher shipments of electronic products during the period, the local statistics agency said Friday.
Data from the Philippine Statistics Authority (PSA) showed that revenues from electronic products rose by 10 percent on year to 2. 27 billion U.S. dollars in August. Electronic products remained as the country's top export, accounting for 41.6 percent of receipts during the period.
Exports of machinery and transport equipment and products categorized as mineral products also posted double-digit hikes in August. PSA data showed that earnings from machinery and transport equipment jumped by 84.9 percent on year to 331.06 million U.S. dollars while revenues from other mineral products expanded by 65. 7 percent on year to 318.33 million U.S. dollars.
PSA said manufactured goods accounted for 80.7 percent of total export receipts. Revenues from manufactured goods rose by 8.4 percent on year to 4.42 billion U.S. dollars.
Major buyers of Philippine products during the period were Japan, China, the United States, and Singapore
Total export earnings in January to August summed up to 40.74 billion U.S. dollars, 9.2 percent higher than the 37.33 billion U. S. dollars posted in the same period last year.