THE country’s export earnings in February continued to increase and posted a year-on-year growth of 10.7 percent, according to the latest data released by the National Statistics Office (NSO) on Thursday.

In a statement, the NSO said February exports inched up to $4.118 billion, from $3.721 billion in February 2007. This, however, is a negative 2.66-percent growth from January’s revised export figure of $4.23 billion.

The country’s total earnings from the top 10 exports reached $3.254 billion, or 79 percent of the Philippines’ total export receipts.

Electronic products continued to be the country’s most important export, which contributed 59.6 percent of the country’s aggregate export revenue in February 2008.

Earnings from electronic products posted $2.456 billion, or a 4.7-percent growth from $2.346 billion in the same period last year.

However, the earnings from electronic products in February this year is a negative 5.86-percent growth, from January’s $2.61 billion.

Export earnings from semiconductors and office equipment posted negative annual growths of 3.01 percent and 15.01 percent, respectively. Semiconductors posted earnings of $1.79 billion, while earnings from office- equipment exports were pegged at $30.47 million.

“Except for components/devices [semiconductor] and office equipment, all other electronic products have showed year-on-year increases ranging from a low of 3.1 percent to a high of 313.3 percent,” the NSO said.

Also among the top 10 exports were articles of apparel and clothing accessories, which was the country’s second top earner in February 2008 with a combined share of 4.3 percent and an aggregate receipt of $177.40 million, or 11.9-percent lower than $201.26 million in February 2007.

Petroleum products, ranked third with total revenue of $123.78 million in February 2008, reflecting a 268.2-percent climb from $33.61 million in February 2007.

Woodcrafts and furniture, ranked fourth in February 2008, with sales amounting to $95.29 million or a growth of 43.9 percent from $66.23 million in February 2007.

Ignition wiring set and other wiring sets used in vehicles, aircraft and ships, which consisted only of electrical wiring harness for motor vehicles, ranked fifth with export receipts of $89.91 million, or a year-on-year growth of 24.8 percent from $72.03 million in February 2007.

Meanwhile, exports of manufactured goods increased by 6.7 percent and account for as much as 84.8 percent of total receipts. Exports of manufactured goods in February 2008 was $3.490 billion, from $3.270 billion in February 2007. 

Among the major contributors to this growth were earnings from mineral products in February 2008 that reached $181.72 million or 4.4 percent of the total export revenue. This represented a growth of 5.5 percent from $172.17 million recorded in February 2007.

Income from all agro-based products in February 2008 also increased by 44.9 percent to $204.96 million from $141.43 million, while receipts from exports of the special transactions increased by 14.2 percent to $114.49 million, from $100.27 million in February 2007.

Export earnings from petroleum products also continued to increase in February 2008 by posting a 268.2-percent growth to $123.78 million from $33.61 million in February 2007. 

However, exports revenue from forest products decreased by 17.9 percent to $3.17 million, from $3.86 million recorded in February 2007.

Meanwhile, total export receipts from the country’s top 10 markets  of February 2008 amounted to $3.508 billion or 85.2 percent of the total.

The United States remained the country’s top export market in February and accounted for 17.4 percent of the country’s aggregate export earnings for the month. Exports to the US remained to be the top market of the country for February 2008 with export receipts of $717.14 million, or an increase of 10 percent from $652.11 million reported in February 2007.

Japan is the second top export market with export earnings of $656.35 million or a 15.9-percent share of total exports for February 2008. This resulted in a growth of 16.5 percent from $563.47 million recorded in February 2007.

The People’s Republic of China emerged as the third-biggest market for February 2008 with shipments amounting to $406.38 million or 9.9 percent of the total exports, a decline of 10.6 percent from a year-ago level of $454.33 million.

THE country’s export earnings in February continued to increase and posted a year-on-year growth of 10.7 percent, according to the latest data released by the National Statistics Office (NSO) on Thursday.

THE Australian government has expressed hopes that the free-trade agreement (FTA) with New Zealand and the members of the Association of Southeast Asian Nations (Asean) will be signed within this year to facilitate trade growth in the region and remove trade and nontrade barriers.

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FRUIT and vegetable farming for Crispolo Galasa, 47, is an annual activity. The time to plant, harvest or \change the crops has been an agenda he knows by heart. All of a sudden, however, the whole schedule is in shambles.

THE Department of Environment and Natural Resources (DENR) eyes a dramatic increase in mining investments in the next three years as local and foreign companies continue to support the government’s mining-revitalization program.

SUBIC BAY FREEPORT—A medical and wellness facility, complete with diagnostic, surgical and therapeutic wards, opened here on Tuesday to offer both out-patient and surgery services to customers in the Subic Bay area and the rest of Luzon.

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SENATE President Manuel Villar Jr. is set to ask the Inter-Parliamentary Union IPM to use its collective clout in calling worldwide attention to the plight of countries encumbered by external debts and set in motion renewed efforts to push for “moratorium, condonation, or any other financial arrangements that enable debt-burdened countries to survive and rise again.”