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Philippines'S Exports Declined In June, While Clothing And Accessories Increased By 5.1%.

2011/8/12 17:22:00 64

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Philippines's National Bureau of Statistics said that because of the main foreign countries

Market consumption

Demand weakened. In June (2011), Philippine exported 4 billion 92 million US dollars, down 10.2% from 4 billion 557 million US dollars in the same period in 2010, the biggest decline since September 2009.

Economic analysts believe that Philippines's annual export growth will not reach 5%, much lower than the government's original 9%~10% target, despite the serious debt problems in Europe and the United States, the slow post disaster reconstruction in Japan, the possible global recession of two degrees, and the slowing down of China's economy.

In Philippines's exports in June;

First export

Electronic product

Accounting for 54%, the amount of US $2 billion 211 million was reduced by 23.9%.

Garments and clothing accessories are the second largest export products, accounting for 3.9% of the total export volume, and the amount is 160 million US dollars, an increase of 5.1%.

Furniture and wooden products occupy third, accounting for 3.7% of the total export volume, with an amount of US $149 million and growth of 65.1%.

export market

Japan, the largest export market in Philippines in June, grew by 41.1% in the amount of $932 million, while the United States dropped by 23.1% in the 572 million US dollar; Mainland China ranked third, with a sum of 481 million dollars and 18.8% growth; the other ten largest export markets in turn were Singapore (391 million US dollars, 47.7%), Hongkong (283 million dollars, reduction of 283 million), South Korea (US dollar, reduction of imports), Taiwan (US dollar, increase), Thailand (US dollar, reduction of), Germany (US dollar, reduction of imports), Holland (US dollar, reduction of GDP).