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Philippines: Exports drop for 15th straight month in June
Philippines: Exports drop for 15th straight month in June
Thursday, 11 August 2016 – Merchandise exports fell 11.4 percent in June, its 15th straight month of decline, due to the persistent weak demand from major export markets, the National Economic and Development Authority (NEDA) said yesterday.
Based on Philippine Statistics Authority (PSA) data, total export receipts fell to $4.8 billion last June from $5.4 billion in the same month last year due to lower sales across commodity groups. These include mineral products; machinery and transport equipment; other manufactures; chemicals; woodcrafts and furniture; ignition wiring set and other wiring sets used in vehicles, aircrafts and ships; electronic products; metal components; and coconut oil.
Total export revenues in the first half also fell 7.5 percent to $26.83 billion from $29 billion in the same period a year ago. Read More?