Philippine June exports grow at fastest rate in six months

Mon Aug 11, 2014 9:22pm EDT

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* Exports in June at $5.44 bln vs yr-ago $4.49 bln
    * Electronics shipments up 10.7 pct in June from yr ago
    * Yr-to date exports up 8.3 pct to $29.8 bln

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

KEY DATA:
 Total exports        June    May   April  March   Feb    Jan
 yr/yr change (pct)   21.3     6.9    1.3   12.4   11.6   -3.0
 in $ bln             5.44    5.48    4.5   5.28   4.66   4.38 

Electronics exports
 yr/yr change (pct)   10.7    -1.6   -2.5   10.1   26.6   21.2 
 in $ bln             2.22    2.05   1.82   2.17   1.88   1.78 
NOTE: Some numbers for previous months have been revised.

    KEY POINTS:
    - Total exports in the first half of the year rose 8.3
percent from the same period last year to $29.8 billion, above
the government's 6 percent target for overall exports growth
this year. 
    - Electronics and semiconductors, which made up 40.8 percent
of total exports for the month, grew 10.7 percent against a
decline of 2.2 percent in the same month last year.
    - Other top exports in June included other manufactures,
machinery and transport equipment and other mineral products.
    - The Philippines' largest electronics industry group,
Semiconductor and Electronics Industries in the Philippines Inc,
has maintained its estimate of 5 percent growth in the sector's
exports 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.

 (Reporting by Erik dela Cruz; Editing by Karen Lema and Eric
Meijer)
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