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DTI: PH exports shot up to ₱277 billion in the first quarter of 2017

Philippine exports shot up to ₱277.7 billion (roughly $5.58 billion) in the first quarter of 2017, the Department of Trade and Industry (DTI) said on Friday.

It was an 18.34% (P48.7 billion) increase compared to the ₱229 billion ($4.61 billion) worth of export on the same period last year.
DTI Export Marketing Bureau Director Senen Perlada said the increase in March 2017 exports "marked the fourth consecutive positive growth in the value of Philippine merchandise exports since December 2016."

The Philippines landed third among the top export performers in the first quarter of the year, following Malaysia and Indonesia.

Electronics topped the list of export products as it reeled in ₱139 billion, accounting for about half of total export revenues in the first quarter.

Semiconductors were the country's top electronic exports, which rose by 16.3%.

Meanwhile, growth in forest product export was pegged at 168.1%, and coconut products by 133.1%.

DTI said other contributing commodities had "double-digit increases ranging from 18.7% to 89.4%.

The United States, Hong Kong, and Japan topped the Philippine export market with receipts at ₱40 billion, ₱39.7 billion, and ₱37.9 billion, respectively.

China and Hong Kong, whose combined markets had a share of 23.6% topped export destinations worldwide. They were followed by the United States (15.49%) and Japan, which stayed at third place with a 15.34% share.

DTI: PH exports shot up to ₱277 billion in the first quarter of 2017 DTI: PH exports shot up to ₱277 billion in the first quarter of 2017 Reviewed by AsianPolicy.Press on 11:17:00 AM Rating: 5

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