The Philippine merchandize exports rose 17 percent year-on-year in January to August this year. Now, that's real good news for the Philippine economy. The reasons? Electronics exports are doing well. So are other sectors including minerals, liquified petroleum gas, transmission applications, electrical machinery, bananas, basketwares, wiring sets, copper bars and rods, and crude coconut oil. That means the growth in exports are pretty broad-based.
It appears that the main sources of growth in the Philippines have been diversifying quite fast lately. Besides merchandize exports, services exports (outsourcing) and remittances from overseas workers are contributing significantly. Nice to know things are improving this side of the Pacific.