Philippines says April exports up 7.6 pct y/y

Wed Jun 13, 2012 9:08pm EDT

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* Exports in April at $4.6 bln vs yr-ago $4.3 bln
    * April electronics shipments down 23.8 pct y/y

    MANILA, June 14 (Reuters) - The Philippines' statistics
office released on Thursday data on April exports:  	
    KEY DATA:  	
Total exports          Apr    Mar    Feb    Jan    Dec     Nov  	
yr/yr change (pct)     7.6   -0.8   12.8    3.1   -18.9   -19.4 	
in $ bln               4.64   4.32   4.43   4.12   3.41    3.37 	
Electronics exports  	
yr/yr growth (pct)    -23.8   1.1    15.8   0.5   -29.4   -34.4 	
in $ bln               1.63   2.26   2.33   2.15   1.59    1.53 	
    NOTE: Some numbers for previous months have been revised.   	
    KEY POINTS:  	
    - Semiconductors and Electronics Industries in the
Philippines Inc expects electronics exports to grow 10 to 15
percent in 2012 after contracting more than 20 percent last
    - The government has forecast exports to grow 10 percent
this year and imports to climb 15 percent.	
    - Manila is targeting faster growth of 5 to 6 percent this
year against 3.7 percent last year, but analysts doubt the goal
will be met as sluggish global demand clouds the outlook for the
country's electronics-dominated exports. 	
    - The Bangko Sentral ng Pilipinas may hold its benchmark
interest rate steady when it meets later on Thursday supported
by the economy's stellar performance in the first quarter,
economists said, but they are not ruling out some kind of easing
later this year on mounting risks to growth from overseas.
    - Most economists expect the central bank to leave the key
overnight borrowing rate unchanged at 4 percent for the rest of
the year to boost domestic demand.  	
    - The Philippines provides about 10 percent of the world's
semiconductor manufacturing services, including for mobile phone
chips and micro processors. Semiconductors account for about
three-fifths of exports.  	
    - Other top exports include garments and accessories, wood
furniture, vehicle parts, coconut oil, and tropical fruits.  	
  - National Statistics Office website
 (Reporting by Erik dela Cruz; Editing by Rosemarie Francisco)