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Home » Archives » 11. August 2008

Growth in Philippine Export

August 11, 2008
Philippine Export Growth Accelerates to 4-Month High (Update1) *

By Karl Lester M. YapElectronics

Aug. 8 (Bloomberg) — Philippine export growth accelerated to a four-month high in June as a weaker peso made the country’s disk drives and mobile-phone chips cheaper and shipments to China countered faltering demand from the U.S.

Shipments abroad rose 8.3 percent from a year earlier to $4.49 billion, compared with a 2.3 percent gain in May, according to preliminary figures released by the National Statistics Office in Manila today. The median estimate of 7 economists in a Bloomberg survey was for a 4.1 percent increase.

The peso, last year’s best performer in the region, fell for a fourth month in June, boosting the foreign-currency earnings of exporters. That may help stave off the effects of weakening demand for Asian goods as global growth slows.
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