Export earnings in February 2011 amounted to $3.864 billion, an 8.2 percent increment from $3.570 billion recorded in February of 2010. However, on a monthly basis, it declined by 3.4 percent from $4.000 billion posted in January 2011. Aggregate merchandise exports for the first two months of 2011, on the other hand, showed an increase of 10.0 percent to $7.865 billion from $7.150 billion posted during the same two-month period in 2010.