Philippine exports recovered in August 2023

Philippine merchandise exports rebounded with a 4.2 percent growth in August 2023 from a 0.9-percent contraction in July on the back of strong electronics shipments, data from the Philippine Statistics Authority show.The PSA said export sales in August amounted to $6.70 billion, up from $6.43 billion in the same month last year.

Total exports in the first eight months reached $47.81 billion, down by 6.6 percent from $51.18 billion a year ago. Most merchandise exports in August went to the Asia-Pacific Economic Cooperation countries with a share of $5.56 billion to the country’s total exports. This was followed by Regional Comprehensive Economic Partnership , valued at $3.21 billion , and East Asia at $3.20 billion .

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