Exports in 2010, $51.39 B

Total exports last year reached $51.39 B, a recovery from $49.08 B in 2008 and $38.44 B in 2009. The huge drop in exports last year was a direct result of the global financial turmoil where many export markets of the Philippines suffered major economic slowdown, if not contraction.

Electronic products exports was $31.08 B or 60.5 percent of total exports last year. In 2009, electronics exports was $22.18 B or 57.7 percent of total exports that year.

For many years until 2009, the main export market of the Philippines was the US, which bought 17.7 percent of total RP exports two years ago. In 2010, the top 5 exports market and their respective market share were: Japan 15.2%, US 14.7%, Singapore 14.3%, China 11.1%, and Hong Kong 8.4%. See more data from NSO here.

Intra-Asian trade continues to grow as many Asian economies keep growing fast while Europe and the US economic growth remains weak.

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