Agro-based and mineral products are expected to fuel continued growth of Philippine exports as demand for electronics softens, according to the National Economic and Development Authority (NEDA).
“Improving sales of non-manufacturing products, especially agro-based and mineral products, will provide support for continued growth in exports this year should the electronics industry slow down due to softening demand,” said Socioeconomic Planning Secretary Cayetano W. Paderanga, Jr.
Paderanga, who is also NEDA Director-General, made this statement after preliminary data from the National Statistics Office reported that export receipts in April 2011 grew by 19.1 percent to US$4.3 billion, accelerating from 4.1 percent in March 2011.
The significant rebound was led by manufactures (9.8%), agro-based (89.2%) and mineral products (118.4%).
Total merchandise export sales in the first four months of the year reached US$16.5 billion, or up by 10.5 percent from US$14.9 billion in the same period last year.
For more, click here to read the full NEDA press release.
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