Exports and Foreign Direct InvestmentsBy Randell Tiongson on January 13th, 2010
Update as of Jan. 2010
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.