Philippine exports grew 1.2 percent in September from a year ago, against a revised 6.6 percent annual increase in August, the government's statistics office said on Wednesday.

September exports reached $4.4 billion, slightly higher than the $4.3 billion during the same period last year.

Exports for the first nine months of the year rose 4.04 percent. The government has set a goal of 5 percent growth in total merchandise exports this year, slower than 2007's 6 percent increase.

Shipments in the first three quarters reached $38.87 billion from $37.36 billion for the same period last year, the NSO said.

Electronics

Shipments of electronics products, the country's main export, contracted 2.7 percent year-on-year in September after a 2.8 percent annual contraction in August.

Electronics exports, which accounted for 58 percent of total shipments, reached $2.59 billion in September.

In the first nine months of the year, electronics exports fell 1.8 percent to $22.82 billion.

The easing in electronics shipments was offset by gains in sales of petroleum and copper, the National Statistics Office (NSO) said.

Other exports

Besides electronics, which are largely assembled from imported parts, other key Philippine exports include garments and accessories, vehicle parts, coconut oil, tropical fruit and wood furniture.

Apparel and clothing accessories were the second biggest export, accounting for 4.1 percent share of shipments but sales were down 5.9 percent to $181.22 million.

Sales of cathodes and sections of cathodes of refined copper rose 40.4 percent to $178.05 million, while petroleum products rose more than 50 percent to $155.39 million.

The United States remained the country's top export destination, with receipts of $806.99 million, accounting for 18.2 percent of the total.

Japan came in second, with receipts of $640.63 million. - with AFP, Reuters