Exports smash record in July, fetch $3.89b

Exports brought home record amounts in July, in a development that will bring a huge sigh of relief for the government battling sizeable balance of payments deficit. Last month, overseas shipments fetched $3.89 billion, up 8.66 percent year-on-year, according to data from the Export Promotion Bureau. The amount also exceeded the month’s target by $60.86 million. The amount bested the record for the highest single month export earnings of $3.81 billion logged in May.