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Philippine Dec exports rebound, imports sustain double-digit rise
February 10, 2017 / 1:35 AM / 9 months ago

Philippine Dec exports rebound, imports sustain double-digit rise

    MANILA, Feb 10 (Reuters) - The Philippines statistics agency on Friday
released data on December exports and imports:
    
 KEY DATA              Dec    Nov    Oct    Sept    Aug     July
 Total exports ($bln)  4.87   4.73   4.76   5.21    4.90    4.67
 yr/yr chg (pct)       4.5    -7.5   7.6    5.1     -3.0    -13.0
 Electronics ($bln)    2.45   2.55   2.49   2.67    2.63    2.40
 yr/yr chng (pct)      -2.8   -7.9   4.7    3.6     11.6    -14.8
                       Dec    Nov    Oct    Sept    Aug     July
 Total imports ($bln)  7.43   7.30   7.30   6.92    7.10    6.93
 yr/yr chg (pct)       19.1   19.7   19.7   5.9     13.5    12.2
 Electronics ($bln)    1.98   1.96   1.96   1.73    1.83    1.79
 yr/yr chng (pct)      18.9   -7.0   -7.0   -17.2   -10.1   -16.8
 
    KEY POINTS:
    - Exports recovered in December and climbed 4.5 percent from a year earlier,
driven by hefty increases in the shipments of coconut oil, other mineral
products and metal components which offset the decline in some of the country's
top export items such as electronic products and woodcrafts and furniture.  
    - Exports to the country's top trading partner Japan rose 2.8 percent from
last year, but exports to the U.S. fell 6.7 percent. Shipments to Hong Kong and
China grew 5.3 percent and 36.6 percent, respectively.
    - In a sign that domestic economic activity remained robust, imports growth
stayed above 19 percent for a third straight month in December, reflecting
double-digit increases in transport equipment, power generating machinery,
industrial machinery, and iron and steel imports.   
    - Manila posted a wider trade deficit of $2.564 billion in December compared
with a $1.586 billion gap in the same month the year before.

 (Reporting by Karen Lema; Editing by Jacqueline Wong)
  

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