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PHL emerges strongest performer among East and SEA neigbors in export growth, Palace official says

Posted on October 10, 2013

MANILA, (PNA) — The Philippines emerged as the strongest performer among its East and Southeast Asia neighbors in terms of export growth in August 2013, a Palace official said.

Presidential Spokesperson Edwin Lacierda announced during the regular press briefing in Malacanang on Thursday that the country exported a total of US .6 billion worth of merchandise in August 2013, 20.2 percent higher than the US$ 3.8 billion shipped out in the same month in 2012.

“Manufactured and mineral products mainly buoyed export performance in August 2013. The exports of manufactured goods rose by 8.7 percent in August 2013 to US.7 billion from US.4 billion in August 2012,” he said.

Lacierda said higher exports of total agro-based and forest products also contributed to the robust export in 2013.

According to Lacierda, Japan was the Philippine’s top export market in August 2013. Data showed that Japan accounted for 25 percent of the country’s total export receipts.

He said the United States of America was the second largest export destination of Philippine products with a 12.6 percent share, and the other major markets of Philippine exports in August 2013 were the People’s Republic of China, 10.5 percent; Singapore, 8.5 percent; and Hong Kong, 7.6 percent.

Following the Philippines as top export performer are Vietnam that recorded an annual increase of 15.5 percent; the Republic of Korea with 7.7 percent annual gain; and the People’s Republic of China with 7.2 percent annual increase.

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