March exports fall 15.1%

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PHILIPPINE merchandise exports dropped 15.1 percent to $4.611 billion in March from $5.434 billion a year earlier, as seven of the 10 major commodity groups fell, data from the Philippine Statistics Authority (PSA) showed Wednesday.

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This is the biggest drop of outbound shipments in six months, since the 15.5-percent fall in Sept. 2015. In February, exports dropped by 4.5 percent.

For the first three months, exports fell 8.4 percent to $13.109 billion from $14.304 billion during the same period in 2015. MAYVELIN U. CARABALLO

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