MANILA – Philippine exports sustained its growth for 11 consecutive months in January 2022 as export revenues expanded by 8.9 percent to USD6.04 billion from USD5.5 billion in the same period in 2021.
In a statement Friday, Department of Trade and Industry (DTI) Secretary Ramon Lopez said this is an encouraging development as it signals recovery of the global market.
Electronic products remained the country’s top dollar earner with total receipts of USD3.5 billion, sharing 58 percent to the total exports in January.
For agricultural products, coconut oil exports registered the highest growth last January at 110.1 percent to USD178.8 million.
Top export markets for Philippine merchandise during the month include the United States, China, Japan, Hong Kong, and Singapore.
Amid the ongoing war between Ukraine and Russia, Lopez hopes that the impact of the conflict “will be short-lived” so it does not massively disrupt the country’s post-pandemic recovery. (PNA)