* Exports in Nov at $4.29 bln vs yr-ago $3.61 bln
* Electronics shipments up 10 percent on year
* Jan-Nov exports up 2.6 pct at $49.4 bln
MANILA, Jan 10 The Philippines' statistics
office released data on November exports on Friday:
Total exports Nov Oct Sept Aug July June
yr/yr change (pct) 18.9 14.0 5.1 20.2 2.3 4.1
in $ bln 4.29 5.03 5.06 4.58 4.84 4.49
yr/yr growth (pct) 10.0 13.5 15.4 -0.4 5.3 -2.2
in $ bln 1.91 2.16 2.15 1.78 1.79 2.0
NOTE: Some numbers for previous months have been revised.
- Shipments of electronics on a month-on-month basis fell
11.4 percent in November, against a 0.5 percent increase in
- Electronics and semiconductors made up 44.6 percent of the
Philippines' total exports in November.
- The electronics industry group has forecast the country's
electronic exports last year to contract by as much as 12
percent, but it sees modest growth in 2014.
- Based on the central bank's latest estimates, Philippine
exports are expected to rise 6 percent this year after a
projected 4 percent growth in 2013.
- Imports are estimated to grow 6 percent from last year's 2
percent forecast, resulting in a higher trade deficit for 2014,
according to the central bank.
- Annual growth in the Philippines cooled to its lowest in
more than a year in the third quarter of last year, but the
economic planning agency still expects full-year 2013 GDP growth
to be close to the top end of Manila's 6-7 percent goal. Manila
is expected to release 2013 GDP in the last week of January.
- Manila is targeting 6.5 to 7.5 percent GDP growth in 2014.
- 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 Rosemarie Francisco
and Chris Gallagher)