EU, Asia remain top Philippine export markets

By：Xinhua Update：2017-06-09

Philippines' National Economic and Development Authority said on Friday that total Philippine trade grew to 11.7 billion U.S. dollars in April 2017, with 12.1 percent growth in exports offsetting the 0.1 percent decline in imports.

The agency said it is optimistic of the country's trade performance for the rest of the year, considering thriving exports and trade linkages, especially with Europe and East Asia.

"For exports, East Asia and the EU remain the top destinations of our products, accounting for 62.3 percent of total export receipts," Socioeconomic Planning Secretary Ernesto Pernia said.

Pernia said exports to EU and East Asia grew by 36 percent and 10 percent in April 2017, respectively.

Despite global uncertainties, Pernia said the NEDA is "upbeat that the country will sustain the strong performance of export and trade growth recorded in the first quarter."

"We aim to deepen our engagement with our neighbors in the Asia-Pacific region to enhance trade and investment links," Pernia said.

Pernia recognized the positive contributions of trade connections and cited China as an example.

"Also worth noting is the tripling of exports to the United Arab Emirates and India in April. This was the third month that receipts to UAE tripled, and the second month for India," Pernia said.