Affected by strong demand for electronics products and a weak peso, the Philippines' exports reached a record high in June. Exports increased 24.1% year-on-year in June to reach US$8.77 billion, a record high. The growth rate was the fastest in more than a year, and exceeded the median 8% forecast in a media survey. The Philippine Bureau of Statistics said on Thursday that electronics exports increased by one-third in June to reach 5.25 billion US dollars, accounting for nearly 60% of total exports. The US is still the largest market for Philippine products, accounting for one-fifth.

Affected by strong demand for electronics products and a weak peso, the Philippines' exports reached a record high in June. Exports increased 24.1% year-on-year in June to reach US$8.77 billion, a record high. The growth rate was the fastest in more than a year, and exceeded the median 8% forecast in a media survey. The Philippine Bureau of Statistics said on Thursday that electronics exports increased by one-third in June to reach 5.25 billion US dollars, accounting for nearly 60% of total exports. The US is still the largest market for Philippine products, accounting for one-fifth.