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Philippine exports up by 2.1 pct in March

Xinhua, May 12, 2015 Adjust font size:

Philippine exports rose by 2.1 percent in March, ending the three consecutive months of decline since December last year, the Philippine Statistics Authority (PSA) said Tuesday.

Total revenue from Philippine exports reached 5.38 billion U.S. dollars in March, up from 5.27 billion U.S. dollars in the same period last year.

"Increased sales in manufacture and mineral products kept growth afloat in March, counteracting the declines in total agro- based and petroleum products," said Economic Planning Secretary Arsenio Balisacan.

Among selected economies in the East and Southeast Asian region, only the Philippines and Vietnam recorded positive growth in March while others posted negative export growth outturns, he noted.

Balisacan said that future exports growth would likely be driven by favorable economic environment in the United States, and in part supported by cheap oil prices and accommodative monetary policy in the European Union. Endi