Exports still rising, but pace slows

Exports continue to rise although growth has slowed because of the global economic downturn, according to Customs figures released yesterday.

Exports reached $128.3 billion in October, up 19.2 percent year-on-year, but down from the 21.5 percent increase for September and the 22.3 percent rise for the first three quarters of the year.

Experts say the data show that the fundamentals of the export sector are still good, but estimate that growth may drop in the coming months as the financial crisis spreads to the wider economy, and from developed economies to emerging ones.