PH exports up 2.3 pct in July
MANILA, Philippines - Exports rose 2.3% in July, as electronic shipments soared to an 8-month high, the statistics office reported on Tuesday.
Exports in July stood at $4.84 billion compared to $4.73 billion a year ago.
Electronics, the top export item, rose 11.2% in July, the highest since November 2012.
The electronics industry group is sticking to its 5-6% growth for the sector this year, as it expects a pick-up in global demand for smartphones and tablets.
The Southeast Asian nation provides about 10 percent of the world's semiconductor manufacturing services, including for mobile phone chips and micro processors.
The Philippine economy expanded by a faster-than-expected 7.5 percent in April-June, matching China's expansion for the second consecutive quarter, as domestic spending and investments buttressed it from capital outflows and weak exports.
Socioeconomic Planning Secretary Arsenio Balisacan has said the government may lower this year's exports and imports growth targets of 10 percent and 12 percent respectively.