Tuesday, May 21, 2024

Electronic products remain PH’s top exports in Nov. 2021

Electronic products continued to be the Philippines’ top export in November 2021 with total earnings of $3.71 billion which accounted for 59.2 percent of the total exports during the period.

Photo from Freepik.com

Data from the Philippine Statistics Authority (PSA) revealed that the second top exports were manufactured goods with an export value of $ 370.36 million followed by machinery and transport equipment with export value of $172.46 million.

The United States (US) remained the Philippines’ biggest export market in November 2021 with export value amounting to $997.85 million which accounted for 16 percent to the total exports during the month.

The other top major export trading partners with their export values were China ($887.48 million), Japan ($879.43 million), Hong Kong ($833.60 million) and Singapore ($360.7 million.

The PSA noted that most of the Philippines’ imported goods were electronic products with an import value of $2.94 billion which accounted for 27 percent to the total imports in November 2021 followed by mineral fuels and lubricants valued at $1.55 billion.

China was the Philippines’ biggest supplier of imported goods valued at $2.28 billion which accounted for 21 percent of the total imports in November 2021, followed by South Korea ($1.1 billion), Japan ($1.08 billion), Indonesia ($924 million) and Thailand ($671 million).

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