Philippine export revenues rebounded in April but it's doubtful if this will be the trend for the rest of the year given the economic woes of the country's key trading partners.

After declining by 0.8 percent in March, the country's export receipts recovered in April, rising by 7.6 percent on year to hit 4.64 billion U.S. dollars. It's also 7.2 percent higher than the previous month.

Data released by the National Statistics Office Thursday revealed huge shipments of ignition wiring sets and other wiring sets used in vehicles, aircraft, and ships was the key export earner in April. It registered a year on year jump of 146 percent.

But export revenues by electronic products, which is traditionally the country's biggest export earner, slumped 23.8 percent on year. This raised concerns that the Philippines may not be able to hit its 10 percent export growth target for the year.

"The performance of electronics exports could dampen export performance for the entire year. Economic uncertainties in Europe, China, and the United States will influence export trends throughout the year," said Cid Terosa, vice dean of the School of Economics in the University of Asia and the Pacific.

Analysts said the debt woes in Europe combined with a slowdown in the two of the world's biggest economies the United States and China may cut Philippine exports this year. This will keep the Philippine sector from fully recovering last year's slump.

The United States and China are two of the Philippines' biggest export markets. In April alone, these two countries account for nearly 40 percent of total Philippine export revenues.

"Philippine exports has yet to recover from last year's 6.9 percent contraction. A strong recovery does not appear in the horizon," said Benjamin Diokno, economics professor at the University of the Philippines.

Apart from the sluggish growth in the United States, Europe and China, Diokno noted recent trend showed earnings from traditional exports gainers are "losing steam."

Diokno noted coconut oil export revenues fell 49.8 percent in the first four months of the year, while that of petroleum products fell 15.3 percent. Likewise, receipts from garment and furniture shipment eased 4.1 percent and 25.3 percent, respectively.

More importantly, Diokno said the declining trend in the revenues brought in by electronic products will hurt total export revenues.

"Last year, exports of electronic products shrunk by 23.8 percent. In the first four months of the year, exports continue to contract 1.83 percent. A recovery means a growth of 23.8 percent or higher. But the slide in electronics exports continue," he said.