November 13, 2012 / 1:05 AM / in 5 years

Philippines' Sept exports growth highest in nearly 2 yrs

* Exports in Sept at $4.78 bln vs yr-ago $3.9 bln
    * Electronics shipments up 1.1 pct from yr ago
    * Jan-Sept exports at $40.1 bln, up 7.2 pct y/y

    MANILA, Nov 13 (Reuters) - The Philippines' statistics
office on Tuesday released data on September exports:
    
    KEY DATA:
Total exports          Sept    Aug    July   June    May    Apr
yr/yr change (pct)     22.8   -9.0    6.0    4.3    19.7    7.6
in $ bln               4.78    3.8    4.73   4.31   4.93    4.64
    
Electronics exports
yr/yr growth (pct)     1.1   -14.9   -25.6  -14.6  -0.7    -23.8
in $ bln              1.83    1.77    1.68   1.89   1.87    1.64
    
  NOTE: Some numbers for previous months have been revised.
    
    KEY POINTS:
    - Trade Secretary Gregory Domingo said last month total
exports this year were likely to grow 5 to 7 percent, below the
10 percent target.
    - The industry group Semiconductors and Electronics
Industries in the Philippines Inc cut its export growth forecast
this year to 5-7 percent from 10-15 percent on slowing demand.
    - The government has trimmed its imports growth forecast for
this year to 12 percent from 15 percent as manufacturers feel
the brunt of the global economic slowdown.
    - The Philippine central bank cut its key policy rate by 25
basis points to a new low on Oct. 25 to help manage capital
inflows that have kept the peso rising against the U.S. dollar
and to boost growth amid weak external demand. 
    - The Southeast Asian country provides about 10 percent of
the world's semiconductor manufacturing services, including for
mobile phone chips and micro processors. Semiconductors account
for about three-fifths of exports.
    
    LINK:
  - National Statistics Office website www.census.gov.ph

 (Reporting by Erik dela Cruz; Editing by Rosemarie Francisco)

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