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:
  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.
    - 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
    - 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. 
    National Statistics Office website

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