Philippine exports down by 3.9 pct in Jan.

Philippine exports plunged by 3.9 percent year-on-year to 4.2 billion U.S. dollars in January, the Philippine Statistics Authority said Thursday.

The decline was mainly brought about by the decreases in five major commodities out of the top 10 commodities for the month. These include articles of apparel and clothing accessories, chemicals, machinery and transport equipment, metal components and other manufactures.

Socioeconomic Planning Secretary Emmanuel Esguerra said 2016 is expected to be a "challenging one" for the export sector as the global economy faces sluggish economic recovery and uneven growth.

"We see global trade growth remaining at a low level as the world copes with soft demand and lower commodity prices," he said. Endit