Philippines' Jan exports rise 9.3 pct y/y, electronics strong

Mon Mar 10, 2014 9:19pm EDT

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* Exports in Jan total $4.38 bln vs yr-ago $4.01 bln
    * Electronics shipments up 22.1 pct from yr ago

    MANILA, March 11 (Reuters) - The Philippines' statistics
office released on Tuesday data on January exports:
    
KEY DATA:
  Total exports        Jan    Dec    Nov    Oct    Sept    Aug
  yr/yr change (pct)   9.3    15.8   18.9   14.0   5.1    20.2
  in $ bln             4.38   4.60   4.29   5.03   5.06   4.58
  mth/mth change (pct) -4.7   7.1   -14.6   -0.6   10.4   -5.3
    
Electronics exports
  yr/yr growth (pct)   22.1   26.2   11.7   13.5   15.4   -0.4
  in $ bln             1.79   1.91   1.94   2.16   2.15   1.78
  mth/mth change (pct) -6.0   -1.9    -10   0.5    20.5   -0.5
    NOTE: Some numbers for previous months have been revised.
    
KEY POINTS:
    - The rise in exports of electronics and semiconductors,
which made up nearly 41 percent of the country's total exports
in January, marked the second straight month of above-20-percent
annual growth. 
    - Other top exports included woodcrafts and furniture,
machinery, and transport equipment. 
    - The electronics industry group forecast the country's
electronic exports could grow 5 percent 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.
    - Based on the central bank's latest estimates, Philippine
exports and imports are both expected to rise 6 percent this
year.
    - With Philippine inflation unexpectedly slowing for the
first time in six months in February, the central bank appears
to have room to keep interest rates at a record low at its
policy meeting this month.
    - The Philippines expects its economy to grow 6.5 to 7.5
percent this year after expanding 7.2 percent last year, the
fastest in the region after China. 
    
    LINKS:
    National Statistics Office website www.census.gov.ph

 (Reporting by Erik de la Cruz; Editing by Chris Gallagher)
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