Philippine exports fall 6.8 percent in March

Lower electronics shipments pushed Philippine merchandise exports 6.8 percent down from a year earlier to 4.18 billion dollars in March after enjoying 10.5 percent growth in February, the government said Friday.

Total exports in the three months to March reached 12.524 billion dollars, up 2.7 percent from the same period in 2007, the National Statistics Office said.

Electronic products which account for 58.5 percent of total exports in March, fell 17.4 percent to 2.444 billion dollars, the agency said in a statement.

Apparel and clothing, which made up four percent of total exports for the month, also fell 9.5 percent to 166.77 million dollars.

Japan bought 710.9 million dollars or 17 percent of the total Philippine exports for the month, an 18.5 percent increase.

The United States received 683.12 million dollars of exports or 16.3 percent, one percent higher than in the same period last year.

China was number-three, buying 549.12 million dollars worth or 13.1 percent and a 13.2-percent increase over the same period last year.