Philippine exports down 1.7% in July

Even though electronic shipments plunged by 21.3%, all other aspects of exports have been doing well.

DBS says the country has become less reliant on just electronics exports.

Here’s more from DBS:

The export figure surprised on the upside, registering just minimal contraction of 1.7% YoY (consensus: -6.8%) in July. Although electronics shipments remained anemic, declining by 21.3%, all other aspects of exports have been holding up well. Non- electronics manufacturing exports are up by 23.7%, while exports of primary goods such as agro, forest and mineral products are up by 61.3%. Structurally, the country has become less reliant on just electronics exports. In 2006, electronics make up over 60% of exports, but the figure is closer to 50% for the first seven months of the year.

However, further diversification into non-electronic products will take time. As such, a meaningful pickup in the total export figure can only come about through a turnaround in the global electronics demand. With non-electronics exports cushioning the drop in electronics exports, we project total merchandise export growth for the year to reach 2%.

Photo from chloe004

Also Read

Consumer prices inch up by 1.4% YoY in October

HK urged to deepen financial reform and innovation

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit