Merchandise exports register 8.8 percent increase

Export earnings for April 2005 went up by 8.8 percent to $3.229 billion from $2.969 billion during the same period a year earlier.

Receipts from merchandise exports during the period January to April 2005 gained by 4.8 percent to $12.749 billion from $12.162 billion during the same period of the previous year.

Electronic products up by 6.3 percent 

Electronic products, accounting for 64.6 percent of the aggregate export revenue in April, registered an increment of 6.3 percent to $2.087 billion from $1.964 billion a year ago. The increases were observed in three electronic groups with control and instrumentation contributing the highest year-on-year change of 145.5 percent share.

Among the major groups of electronic products, components/devices (Semiconductors) got the biggest share with 47.7 percent to total exports. Semiconductors posted a positive growth at 17.9 percent to $1.541 billion from $1.306 billion during the same month in 2004.

Articles of apparel and clothing accessories remained as the country’s second top earner with a combined share of 4.0 percent and an aggregate receipt of $128.73 million or 5.8 percent lower than $136.65 million a year earlier.

Coconut oil ranked third with total revenue of $92.55 million reflecting a 54.0 percent increase from $60.12 million during the same period of 2004.

Ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles), ranked fourth with sales amounting to $50.78 million or a year-on-year positive rate of 29.1 percent from $39.33 million.

Revenue from other products manufactured from materials imported on consignment basis, grew by 2.1 percent to $45.69 million from $44.76 million.

Rounding up the list of the top exports for the month of April 2005 were: petroleum products, $41.65 million; cathodes and sections of cathodes, of refined copper, $40.00 million; woodcrafts and furniture, $36.65 million; metal components $34.40 million; and bananas (fresh), 30.18 million.

Total receipts for the top ten exports reached $2.587 billion, or 80.1 percent of the total exports.

Fig. 1. Philippine Top Exports: April 2004 and 2005
(F.O.B. Value in Million US Dollars)

Exports of manufactured goods increase by 8.5 percent

Accounting for 87.5 percent of the total receipts, exports of manufactured goods was $2.826 billion with an increase of 8.5 percent  from $2.605 billion during the same period of 2004.

Earnings from all agro-based products combined for $213.21 million or 6.6 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group advanced by 29.8 percent from $164.25 million.

Income from   mineral products improved by 4.6 percent to $79.30 million from $75.78 million while receipts from exports of special transactions dropped by 32.0 percent to $65.88 million from $96.85 million.

Petroleum products registered earnings of $41.65 million, while forest products contributed $3.28 million.

Fig. 2. Philippine Exports by Commodity Group: April 2004 and 2005
(F.O.B. Value in Million US Dollars)

 

Exports to Japan account for 18.6 percent

Accounting for 18.6 percent of the country's aggregate income for the month, exports to Japan was valued at $600.22 million. Receipts improved by 16.0 percent from last year's reported figure of $517.66 million. 

United States followed with a 16.4 percent share. Earnings at $530.55 million,  picked up by 9.7 percent from $483.48 million.

Netherlands emerged as the third biggest market for the month as shipments of local goods amounted to $335.97 million or 10.4 percent of the total. Receipts moved up by 16.6 percent from $288.07 million compared to the same period of 2004.

Exports to People's Republic of China accounting for 9.2 percent of the total receipts was worth $295.80 million reflecting a 109.4 percent increase from $141.29 million during the same month a year ago.

Other top markets for April 2005 were: Hong Kong, with exports worth $251.66 million; Singapore, $224.00 million;  Malaysia, $193.46 million; Taiwan, $153.54 million; Germany, $116.71 million; and Republic of Korea, $106.78 million.

Total export receipts from RP's top ten markets for the month of April amounted to $2.809 billion or 87.0 percent of the total.

Fig. 3. Philippine Top Exports by Country: April 2005
(F.O.B. Value in Million US Dollars)

Source:  Economic Indices and Indicators Division
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines