As reported by the Philippine Statistics Authority (PSA), the export earnings of the Philippines from January to September 2021 totaled US$55.7 billion, an 18.0% year-on-year (Y-o-Y) growth from a contraction of 11.3% during the same period in 2020 as exports were negatively affected by the COVID-19 pandemic. Note that monthly exports have started to surpass 2020 levels by March 2020. Monthly exports growth peaked at 74.1% in April and posted 18.9% in August and 6.3% in September 2021. Exports managed to expand even with the pandemic at 3.4% in September 2020.
