Philippine December exports up 16.5 pct, 3-mth high

Mon Feb 11, 2013 8:05pm EST

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* Exports in Dec at $3.97 bln vs yr-ago $3.41 bln
    * Electronics shipments down 5.5 pct in Dec from yr ago
    * Full year 2012 exports at $52 bln, up 7.6 pct y/y
    * Total 2012 electronics shipments down 5.2 pct at $22.56
bln

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

KEY DATA: 
Total exports        Dec    Nov    Oct    Sept    Aug    July   
yr/yr change (pct)  16.5    5.5    6.1    22.8   -9.0    6.0    
in $ bln             3.97   3.55   4.41   4.78    3.8    4.73   
     
Electronics exports 
yr/yr growth (pct)  -5.5    13.3   0.3    1.0   -14.9   -25.6   
in $ bln             1.51   1.73   1.90   1.83   1.77    1.68   
    
    NOTE: Some numbers for previous months may have been
revised. 
     
    KEY POINTS: 
    - Philippine exports rose 7.6 percent in 2012, slightly
below the central bank's forecast of 8 percent.
    - The industry group Semiconductors and Electronics
Industries in the Philippines Inc had expected exports of the
sector will post no growth in 2012 due to sluggish demand, but
recover this year and grow 5 percent to 6 percent.
 
    - Governor Amando Tetangco told Reuters in an interview on
Thursday the central bank may ease rules on foreign exchange
transactions to dampen a strong peso that is hurting exports.
Exports account for about two-fifths of the country's 
expenditure-based GDP. 
    - Manila is targeting growth of 6 to 7 percent this year,
after 6.6 percent growth in 2012, the fastest in Asia after
China so far. 
    - The Southeast Asian country 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 Philippine exports include wood furniture,
vehicle parts, metal components, petroleum products, coconut
oil, and tropical fruits.      
     
    LINK: 
  - National Statistics Office website www.census.gov.ph 

 (Reporting by Erik dela Cruz; Editing by Shri Navaratnam and
Rosemarie Francisco)
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