Philippines' April exports at 3-month low

Mon Jun 9, 2014 9:24pm EDT

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* Exports in April total $4.54 bln vs yr-ago $4.51 bln
    * Electronics shipments down 2.5 pct from year ago
    * January-April exports up 5.4 pct from year ago

    MANILA, June 10 (Reuters) - The Philippines' statistics
office released data on April exports on Tuesday:
  Total exports           April   March    Feb    Jan    
  yr/yr change (pct)       0.8    12.4    11.6   -3.0   
  in $ bln                4.54    5.28    4.66   4.38   
  Electronics exports
  yr/yr growth (pct)      -2.5    10.1    26.6   21.2   
  in $ bln                1.82    2.17    1.88   1.78   
  NOTE: Some numbers for total exports in previous months have
been revised. The Philippine Statistics Authority has yet to
advise of any revisions in electronics exports data for January
to March 2014.
    - Total exports in the first four months of the year rose
5.4 percent from a year ago to $18.86 billion.
    - Electronics and semiconductors, which made up 40 percent
of total exports in April, contracted 2.5 percent against a
increase of 12.2 percent a year ago.
    - Other top exports included other manufactures, woodcrafts
and furniture, and mineral products.
    - The electronics industry group forecast electronic exports
could grow 5 percent this year, while the central bank has
projected exports growth of 6 percent.
    - The Southeast Asian nation provides about 10 percent of
the world's semiconductor manufacturing services, including for
mobile phone chips and micro processors.
    - The Philippines expects its economy to grow 6.5 to 7.5
percent this year after expanding 7.2 percent in 2013, the
fastest in Southeast Asia. 
    - Growth in the first quarter was the slowest in two years
at 5.7 percent, hurt by the impact of last year's super typhoon.
    - The Philippine Statistics Authority has revised trade data
for 2013 after including figures that weren't captured
Philippine Statistics Authority website

 (Reporting by Erik dela Cruz; Editing by Eric Meijer)