* Exports in February at $3.74 bln vs yr-ago $4.43 bln
* Electronics shipments down 36.5 pct in Feb from yr ago
* Jan-Feb exports down 9.4 pct to $7.75 bln vs yr-ago $8.55
MANILA, April 10 The Philippines' statistics
office on Wednesday released data on February exports:
Total exports Feb Jan Dec Nov Oct Sept
yr/yr change (pct) -15.6 -2.7 16.5 5.5 6.1 22.8
in $ bln 3.74 4.01 3.97 3.55 4.41 4.78
yr/yr growth (pct) -36.5 -31.9 -5.5 13.3 0.3 1.0
in $ bln 1.48 1.47 1.51 1.73 1.90 1.83
- The electronics industry group expects exports of the
sector, which comprise about half of the country's total, will
climb 5 to 6 percent this year after contracting 5.2 percent in
- The Southeast Asian nation provides about 10 percent of
the world's semiconductor manufacturing services, including for
mobile phone chips and micro processors.
- The Philippine economy likely grew between 6 to 7 percent
in the first quarter from a year ago, according to Economic
Planning Secretary Arsenio Balisacan, matching the government's
target for the year, on the back of strong domestic demand and
higher government spending.
- The Philippine central bank is widely expected to keep its
overnight borrowing rate steady at a record low of 3.5 percent
when it meets on April 25 after inflation eased for the first
time in four months in March.
- The central bank has said it plans to release more
regulations as early as this month aimed at relaxing foreign
exchange rules to allow for more outflows to dampen a strong
peso that is hurting exports and families dependent on
remittances from Filipinos working abroad.
- Other top Philippine exports in January include chemicals,
woodcrafts, and metal components.
National Statistics Office website www.census.gov.ph
(Reporting by Erik dela Cruz; Editing by Shri Navaratnam and