Philippine exports break losing streak–rises in November

·       Exports in November hit $3.69 billion, up 5.1% from a year earlier

·       This is also +0.6% higher  from October levels.

·       For the January-November period, exports were down 24.6% to $35 bn.

·       This is the first time exports grew since September 2008

·       Growth was driven by the increase in electronics sales.

·       Electronics exports in November rose 6.9% to $2.14 billion.

·       Exports to the U.S., Japan and the Netherlands showed on-year gains of 7.5%, 2.7% and 56%, respectively.

FDI for Oct 2009 reached $59 M

·       For Oct 2009, the country recorded a net inflow of $59 mln in foreign direct investment.

·       A reversal from an outflow of $62 mln the previous month.

·       Central bank said that a net-equity capital infusion of $41 mln came from Hong Kong, the U.S. and Japan.

·       With the bulk of the investments allocated to the mining, construction and financial intermediation sectors.

·       The positive investor sentiment resulted to an 18% rise in net inflow of FDI in the Jan-Oct period.