Merchandise Export Performance : December 2016

Reference Number: 

2017-016

Release Date: 

Friday, February 10, 2017

MERCHANDISE EXPORTS PERFORMANCE

DECEMBER 2016

(Preliminary)

 

 

December

 

2016 p

2015 r

 

TOTAL EXPORTS

     FOB Value in Million US Dollars

     Year-on-Year Growth (Percent)  

Electronic Products

     FOB Value in Million US Dollars

     Year-on-Year Growth (Percent)

 

 

4,871.02

4.5

 

2,450.57

-2.8

 

 

4,659.51

-3.0

 

2,522.13

6.1

 

 
Top 10  Philippine Exports to All Countries: December 2016 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Coconut Oil (includes crude and refined)
146.5
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
-37.8
Other Mineral Products
104.5
Woodcrafts and Furniture
-19.2
Metal Components
66.4
Machinery and Transport Equipment
-12.9
Chemicals
42.1
Articles of Apparel and Clothing Accessories
-4.2
Other Manufactures
35.8
Electronic Products
-2.8
                       p-preliminary, r-revised
 
 
 
 

EXPORTED GOODS INCREASE BY 4.5 PERCENT IN DECEMBER 2016

The Philippines’ export sales amounted to $4.871 billion in December 2016, a 4.5 percent increase from $4.660 billion recorded value in December 2015. The increase was attributed to five major commodities out of the top ten export commodities for the month. These include coconut oil which includes crude and refined (146.5%), other mineral products (104.5%), metal components (66.4%), chemicals (42.1%), and other manufacturers (35.8%) (Table 1).

Furthermore, total merchandise exports for the period January to December 2016 registered a 4.4 percent decrease to $56.232 billion in 2016 from $58.827 billion in the same period of 2015 (Table 2).

 

EXPORTS OF ELECTRONIC PRODUCTS DECREASE BY 2.8 PERCENT

Electronic Products remained as the country’s top export with total receipts of $2.451 billion, accounting for 50.3 percent of the total exports revenue in December 2016. It decreased by 2.8 percent from $2.522 billion registered in December 2015. Components/Devices (Semiconductors), having the biggest share of 35.5 percent among electronic products, increased by 1.9 percent to $1.727 billion in December 2016 from $1.694 billion in December 2015.

Other Manufactures ranked second at $349.42 million or 7.2 percent share to the total export receipts. It recorded an increase of 35.8 percent from December 2015 value of $257.32 million.

Machinery and Transport Equipment was the third top export earner in December 2016 with export revenue of $227.05 million. Export sales for this commodity group dropped by 12.9 percent from $260.76 million in December 2015.

Woodcrafts and Furniture ranked fourth, with a contribution of 4.1 percent share to the total export receipts, recording sales of $202.14 million in December 2016. It registered a 19.2 percent decrease from the previous year level of $250.22 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships was recorded as the country’s fifth top export earner with value at $153.72 million or 3.2 percent share to total exports. It fell by 37.8 percent from $247.03 million in same period of 2015.

Rounding up the list of the top ten exports with corresponding export sales for the month of December 2016 were:

  • Metal Components with $149.65 million, grew by 66.4 percent;
  • Chemicals with $148.16 million, increased by 42.1 percent;
  • Other Mineral Products with $124.99 million went up by 104.5 percent;
  • Coconut Oil (includes crude and refined) with $120.20 million, accelerated by 146.5 percent, registering the highest growth among the top ten exports and; 
  • Articles of Apparel and Clothing Accessories with $85.11 million, recorded a negative growth of 4.2 percent.

Total receipts from the top ten exports increased by 2.1 percent in 2016 and reached $4.011 billion or 82.3 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS INCREASE BY 0.4 PERCENT

Outward shipments of Manufactured Goods were valued at $4.127 billion, accounting for 84.7 percent of the total export receipts in December 2016. It recorded an increase of 0.38 percent from $4.111 billion recorded in December 2015 (Table 3).

Exports from Total Agro-Based Products, with a 7.7 percent share to total exports in December 2016, amounted to $377.30 million. It went up by 67.5 percent from $225.23 million in December 2015.

Merchandise exports from Mineral Products, which shared 4.9 percent of the total exports revenue, increased by 18.5 percent from $202.77 million in December 2015 to $240.22 million in December 2016.

Special Transactions with a 1.7 percent share to total exports, decreased by 2.2 percent to $83.50 million in December 2016 from $85.36 million in December 2015.

Petroleum Products, with 0.8 percent share, increased by 13.2 percent to $38.05 million in December 2016 from $33.62 million during the same month in 2015.

Moreover, sales from Forest Products, accounting for 0.1 percent share of the total exports, increased by 234.5 percent to $5.27 million in December 2016 from $1.58 million in same period of 2015.

JAPAN ACCOUNTS FOR 19.4 PERCENT OF THE TOTAL EXPORTS IN DECEMBER 2016

Total export receipts from the country’s top ten market destinations for the month of December 2016 was valued at $4.011 billion, accounting for 82.3 percent share of the total export receipts (Table 5).

Japan including Okinawa remained as the country’s top export destination with revenue amounting to $946.28 million, comprising 19.4 percent share to total exports for December 2016. It increased by 2.8 percent from $920.75 million recorded in the same month a year ago.

United States of America (USA) including Alaska and Hawaii ranked second, accounting 14.1 percent of total exports, with receipts valued at $685.96 million in December 2016. It recorded a decrease of 6.7 percent from $735.52 million in same month last year.

Hong Kong with 12.7 percent share to total exports, ranked third with shipments valued at $619.64 million. It grew by 5.3 percent from $588.42 million in same month a year ago.

People’s Republic of China ranked fourth with $602.81 million or 12.4 percent share of the total exports. It increased by 36.6 percent from $441.34 million recorded in the same month last year.

Singapore placed fifth, representing a 5.8 percent share to total exports, with export earnings worth $282.23 million. It declined by 7.1 percent from $303.82 million posted in December 2015.

Other top ten market destinations for December 2016 were: Taiwan, $193.91 million; Republic of Korea, $190.59 million; Germany, $173.80 million; Thailand, $170.91 million; and Netherlands, $144.76 million.

Exports to Other Countries which was valued at $860.12 million accounted for 17.7 percent of the total exports for the month of December 2016.  Among the Other Countries, Malaysia (including Sabah and Sarawak) recorded the highest at $130.92 million or 2.7 percent of the total exports.

BULK OF EXPORTS ARE FOR COUNTRIES IN EAST ASIA

Majority of the country’s merchandise exports in December 2016 went to countries in East Asia, accounting for 52.5 percent share to total exports valued at $2.556 billion. It increased by 9.4 percent from $2.337 billion of December 2015. 

Commodities exported to ASEAN member countries comprised 14.4 percent of the total exports in December 2016 and was valued at $702.55 million. This went down by 5.0 percent from $739.87 million posted in same month of previous years.

Exports to European Union member countries, with 10.7 percent share to total merchandise exports amounted to $521.64 million. It recorded an 8.0 percent decrement from $566.72 million recorded in December 2015 (Table 6).

 

 

 

Technical Notes

 

Export trade statistics are compiled by the Philippine Statistics Authority (PSA) from copies of export declarations filed with the Bureau of Customs (BOC) by exporters or their authorized representatives as required by law. PSA collects a copy of the accomplished form Export Declaration (ED – DTI form). Aside from the hard copy of the ED, the output of the Automated Export Documentation System (AEDS) is being utilized to generate export statistics. AEDS is a paperless transaction in lieu of the manual filling-up of export documents. The digitized copy of the AEDS is provided by BOC and PEZA to PSA on a monthly basis through email.

All documents (hard copies and e-files) received before the cut-off date which is every 25th day of the month are compiled, processed and generated in a monthly statistical tables for the preparation of Press Release.  All documents received after the cut-off date, however, are processed and included in the generation of the revised statistical tables. Processing includes coding, editing, review and validation.  Revised statistical tables are made available 10 to 15 working days after the press release date.

The Press Release is due every 10th day of each month.  However, if the 10th day falls on a Saturday, release will be on Friday but if it falls on a Sunday or Monday the release will be on Tuesday. If the release date falls on holiday, the date of release is moved accordingly.

The 2004 Philippine Standard Commodity Classification (PSCC) is used to classify the commodities at the most detailed level for statistical purposes.

Data request of international merchandise trade statistics are available at Philippine Statistics Authority, Economic Sector Statistics Service, Trade Statistics Division (Telephone Number: 376-19-75).

 

 

(Sgd.)  LISA GRACE S. BERSALES, Ph. D.
National Statistician and Civil Registrar General

 

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