Export earnings in May 2009 dropped by 27.0 percent to $3.087 billion from $4.225 billion registered in May 2008. Compared to previous months level, however, it rose by 10.1 percent from $2.803 billion in April 2009. Aggregate merchandise exports from January to May 2009, on the other hand, declined by 34.5 percent to $13.814 billion from $21.096 billion reported a year earlier during the same five-month period.