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Philippines' exports, imports post double-digit growth in May
July 11, 2017 / 1:22 AM / 5 months ago

Philippines' exports, imports post double-digit growth in May

    MANILA, July 11 (Reuters) - The Philippines' statistics
agency on Tuesday released data on May exports and imports:
    
 KEY DATA                May    Apr    Mar    Feb    Jan    Dec
 Total exports ($bln)   5.49   4.81   5.58   4.74   5.19   4.97
 yr/yr chg (pct)        13.7   19.1   18.1    8.7   22.0   6.60
 Electronics ($bln)     2.74   2.45   2.80   2.47   2.37   2.45
 yr/yr chg (pct)        17.8   6.80   19.0   15.9   10.4   -2.8
                                                               
 Total imports ($bln)   8.24   6.86   7.88   6.51   7.66   7.43
 yr/yr chg (pct)        16.6   -0.1   18.0   15.2   12.2   19.0
 Electronics ($bln)     1.97   1.81   2.01   1.74   1.86   1.98
 yr/yr chg (pct)        12.9   -0.2   13.8   11.5  -16.2   19.9
 Note: Some previous numbers were revised.
    
    KEY POINTS:
    - Exports rose for a sixth straight month in May, growing by
13.7 percent from a year ago, driven by hefty increases in
shipments of cathodes and refined copper, coconut oil, other
mineral products, the Philippine Statistics Authority said.
    - Japan was the biggest export market in May but orders
shrank 9.4 percent from a year earlier. Shipments to the United
States rose 7.1 percent, while exports to Hong Kong and China
rose 32.7 percent and 17.7 percent, respectively.
    - Imports climbed 16.6 percent from last year, reflecting
higher purchases of metal products, transport equipment, iron
and steel as the government boosts infrastructure spending.
    - The country had a trade deficit of $2.753 billion in May,
wider that $2.24 billion gap in the same month last year.
    

 (Reporting by Karen Lema and Enrico dela Cruz; Editing by Biju
Dwarakanath)
  

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