April 11, 2017 / 1:51 AM / 4 months ago

Philippines' Feb exports grow at slower pace, imports at 9-mth high

    MANILA, April 11 (Reuters) - The Philippines' statistics
agency on Tuesday released data on February exports and imports:
    
 KEY DATA                 Feb    Jan    Dec    Nov    Oct   Sept
 Total exports ($bln)    4.78   5.13   4.95   4.73   4.94   5.21
 yr/y chg (pct)          11.0   24.0    6.3   -7.5    7.6    5.1
 Electronics ($bln)      2.47   2.37   2.45   2.55   2.49   2.67
 yr/y chg (pct)          15.9   10.4   -2.8   -7.9    4.7    3.6
                                                                
                                                                
 Total imports ($bln)    6.51   7.44   7.11   7.30   6.92   7.10
 yr/yr chg (pct)         20.3   12.2   13.8   19.7    5.9   13.5
 Electronics ($bln)      1.74   1.86   1.98   1.96   1.73   1.83
 yr/yr chg (pct)         11.5  -16.2   18.9   -7.0  -17.2  -10.1
  NOte: Some previous numbers were revised

    KEY POINTS:
    - Exports rose for a third straight month in February,
although at a slower pace due to double-digit drops in the
shipments of machinery and transport equipment and ignition
wiring set for vehicles, aircrafts and ships, data from the
statistics agency showed. 
    - Exports to the United States, the biggest exports market
for the month of February, increased 0.3 percent. Shipments to
China grew 24.7 percent, while exports to Japan declined 22.5
percent. 
    - Imports climbed to 20.3 percent in February, the highest
in nine months, as seven of the country's 10 imports rose, led
by mineral fuels, lubricants and related materials.
    - The country's trade deficit widened to $1.73 billion from
$1.1 billion a year ago. 
    

 (Reporting by Karen Lema and Neil Jerome Morales; Editing by
Shri Navaratnam)
  

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