Exports up 6.9 pct in May

MANILA, Philippines (Xinhua) - Export revenues managed to grow by 6.9 percent on year to $5.48 billion in May despite the decline in earnings from electronic products, a local statistics agency said today.

The Philippine Statistics Authority (PSA) said the increase in the outward shipments of other manufactured goods bolstered export revenues during the period.

Electronic products remained as the country's top export in May, accounting for 37.3 percent of total receipts. Revenues from electronic products declined by 1.6 percent on year to $2.04 billion.

Receipts from goods classified as "other manufactures" and " other mineral products" picked up the slack in shipments of electronic products.

Earnings from other manufactures rose by 40.6 percent on year to $633.14 million while receipts from other mineral products more than doubled to $485.18 million.

PSA said outward shipments of manufactured goods, which accounted for 77.5 percent of total export receipts in May, went up by 3.3 percent on year to $4.24 billion.

Major buyers of Philippine-made goods during the period were Japan, China, the United States and Singapore.

Export receipts in January to May summed up to $24.36 billion, 5.8 percent higher than the $23.02 billion registered in the same period last year.