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MANILA: Philippine exports saw their first double-digit rise in 22 months in December, the government said Wednesday, as the recovery from the effects of the global financial crisis gathered pace.
Export receipts for the month grew 23.6 per cent from a year earlier to US$3.3 billion, following a 5.7 per cent annual advance the previous month, the National Statistics Office said in a statement.
Shipments actually fell 11 per cent compared to a month earlier, but the December growth was driven by a 40.9 per cent year-on-year rise in electronics, the country's main export which accounted for 56.9 per cent of the total.
Aggregate exports for 2009 plunged 21.9 per cent to US$38.33 billion, in line with projections following the onset of the global financial crisis.
The Philippine economy grew by 0.9 per cent in 2009, its slowest pace in 11 years.
- AFP/sc
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