Merchandise exports surged by 26.4% year-on-year to reach $6.22 billion in April 2024, according to the latest data from the Philippine Statistics Authority (PSA). This represents a strong recovery in the export sector after a 7.3% decline in March 2024.

The increase in exports was primarily driven by the electronic sector, which contributed $3.57 billion or 57.4% of the total export value. Other key contributors included manufactured goods at $331.3 million (5.3%) and mineral products at $287.65 million (4.6%). 
Hong Kong was the leading trading partner, with shipments valued at $1.03 billion, or 16.5% of the total exports. Followed by the United States with $948.43 million (15.3%), Japan with $823.27 million (13.2%), China with $702.02 million (11.3%), and South Korea with $314.59 million (5.1%).

Sustained export performance in key export sectors will likely increase demand for electronics and manufactured goods as well as enhancing market access and competitiveness. Read more here  AOB