PH exports up 6% in April
The export industry in the Philippines sustained its growth as it recorded a six per cent increase to US$6.1 billion in April, according to the Philippine Statistics Authority (PSA).
In its preliminary data, PSA disclosed that export sales increased by US$2.1 billion for the first four months of 2022.
In total, exports increased by 8.9% to US$25.6 billion from US$23.5 billion in 2021. April is also set to be higher than the pre-pandemic average from 2017 to 2019 by 14.5%.
As for the products, electronics remain to be the country’s biggest export, accounting for 59.8% year-to-date (YTD) of total exports in January-April.
Double-digit growth rates were recorded in Philippine electronics exports of components/devices (semiconductors), control and instrumentation, and automotive electronics.
Exports of telecommunication products have more than tripled in April 2022, based on both year-on-year and year-to-date values.
The Philippines’ top market from January to April 2022 remains to be the United States, with exports valued at US$3.95 billion, closely followed by China with exports valued at USD3.85 billion.
