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Exports from the Philippines have increased for 11 months in a row.

MANILA, Philippines β€” Philippine exports grew for the 11th month in a row in January 2022, with export revenues rising 8.9% to USD6.04 billion from USD5.5 billion in the same time in 2021.

Secretary of the Department of Trade and Industry (DTI) Ramon Lopez stated in a statement Friday that this is a positive development that signifies a global market recovery.

With total receipts of USD3.5 billion, electronic products were the country’s top dollar earner in January, accounting for 58 percent of overall exports.

Coconut oil exports grew by 110.1 percent to USD178.8 million in January, the fastest-growing agricultural product.

During the month, the top export markets for Philippine goods were the United States, China, Japan, Hong Kong, and Singapore.

Lopez believes that the impact of the ongoing battle between Ukraine and Russia “will be short-lived” so that the country’s post-pandemic recovery is not jeopardized.

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