ASEAN KEY DESTINATIONS
PHL June exports fall 3.3% on weak demand – PSA
Philippines exports fell by 3.3 percent in June 2015 to $5.28 billion, the third successive monthly decline on record since April, largely on weak global demand, particularly China.
However, exports of electronics and semiconductors recovered to register a 9.5-percent increase in June from a 7.5-percent drop in May, the Philippine Statistics Authority reported on Tuesday.
Electronic exports totaled $2.44 billion from $2.36 billion in the same comparable period, accounting for 46.2 percent of the country’s total shipments.
But lackluster performance was also noted in the following sectors: manufactures, machinery and transport, woodcraft and furniture.
Exports to China, one of the country’s top markets, fell 30 percent in June.
Shipments to US also fell by 4.3 percent while exports to Japan rose by 29 percent.
In a separate interview, Sergio Ortiz-Luis, president of Philippine Exporters Confederation Inc. (PhilExports) said the current situation – weak global demand – has forced exporters to tighten their purses as a way of lowering costs, including laying off people.
"We have been asking the government to lower utility rates such as electricity and improve the infrastructure and the transport sector to help ease the way we do business," he said.
PhilExports has more than 3,000 member companies.
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