Philippines says unlikely to hit 10 pct export growth goal in 2012

MANILA, Oct 10 (Reuters) - The Philippines is unlikely to hit its export growth target of 10 percent this year, with growth seen only reaching up to 7 percent due to slowing demand from its traditional markets, the trade secretary said on Wednesday.

Weak orders for its top electronics and semiconductor shipments from big markets United States and China have kept overall Philippine exports growing at modest levels. Exports were up 5.4 percent from a year ago in the first eight months of the year.

"The realistic growth for this year is between 5 and 7 percent," Gregory Domingo, trade secretary, told reporters. "I don't think we can still reach 10 percent)."

Data earlier on Wednesday showed August exports fell 9.0 percent from a year earlier.

(Reporting by Erik dela Cruz; Editing by Kim Coghill)


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