A general view of shipping containers and cranes at Manila’s international port amid an export boom in the Philippines. (AFP pic)MANILA: Philippine exports rose at their fastest pace in five years, bringing overseas sales to a new record on the back of global electronics demand and a weak peso.

The Southeast Asian nation exported US$9.87 billion worth of goods in September, up 36% from a year ago, according to the statistics agency. That’s the quickest expansion since April 2021, according to data compiled by Bloomberg.

“Exports at new record high is one of the bright spots in the Philippine economy,” said Michael Ricafort, chief economist at Rizal Commercial Banking Corp.

The growth was driven by the depreciating peso and “a boom in global demand for electronics, especially AI-related,” he said.