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Philippine exports fall at slower y/y pace in August, imports up
October 11, 2016 / 1:32 AM / a year ago

Philippine exports fall at slower y/y pace in August, imports up

MANILA, Oct 11 (Reuters) - The Philippines statistics agency
on Tuesday released data on August exports and imports:

 KEY DATA                   Aug   July   June   May   Apr   Mar
 Total exports ($bln)       4.90  4.67   4.75   4.7   4.25  4.61
 yr/yr chg (pct)            -4.4  -13.0  -11.4  -3.8  -4.1  -15.1
 Electronics ($bln)         2.63  2.40   2.43   2.26  2.26  2.36
 yr/yr chg (pct)            11.6  -14.8  -5.1   -4.0  1.9   1.0
 
 KEY DATA                  Aug    July   June   May   Apr    Mar
 Total imports ($bln)      6.93   6.73   6.85   6.74  6.56   6.36
 yr/yr chg (pct)           12.2   -1.7   15.4   39.3  29.8   11.7
 Electronics ($ bln)       1.79   1.83   1.7    1.67  1.74   1.76
 yr/yr chg (pct)           -16.8  -8.1   -15.8  44.5  69.9   30.1
 

KEY POINTS:
    - Exports continued its decline in August, although at a
slower pace, due to the 11.6 percent rise in shipments of
electronic products, which accounted for 53.7 percent of total
exports. 
    - Exports to the country's top trading partners - Japan and
the U.S. - posted declines of 5.1 percent and 4.7 percent,
respectively. But exports to Hong Kong and China, the country's
third and fourth largest markets in August rose 22.4 percent and
2.2 percent. 
    - Imports rose 12.2 percent in August after a decline the
previous month due to increases in seven out of top ten major
imported commodities led by transport equipment, which grew a
hefty 103 percent in August from last year. 
    - Manila posted a wider trade deficit of $2.023 billion in
August compared with a $1.048 billion gap in the same month last
year.
    - The Philippines posted annual growth of 7 percent in
April-June from a year earlier, the highest level in three
years. 

 (Reporting by Karen Lema; Editing by Richard Borsuk)

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