* Includes transactions that passed through Automated Export Documentation System (AEDS).
p - preliminary
r - revised

APRIL 2008 MERCHANDISE EXPORTS UP BY 4.9 PERCENT

Export earnings in April 2008 went up by 4.9 percent to $4.325 billion from $4.124 billion in April 2007.  Compared with the previous month’s level, total export revenue likewise grew by 3.2 percent from $4.193 billion.

ELECTRONIC PRODUCTS DOWN BY 1.7 PERCENT

Accounting for 58.2 percent of the aggregate export revenue in April 2008, Electronic Products posted a decline of 1.7 percent to $2.519 billion from $2.563 billion in April 2007.  However, compared with the previous month's level, export earnings of this commodity group increased by 2.9 percent from $2.448 billion.  Meanwhile, the year-on-year decline may be due to the slow down in the demand for electronic products especially on the Components/Devices (Semiconductors) recording a decrease of 8.0 percent to $1.881 billion from $2.044 billion in April 2007.

Articles of Apparel and Clothing Accessories continued to be the country’s second top earner in April 2008 with a combined share of 3.6 percent and an aggregate receipt of $153.58 million or 5.9 percent lower than the $163.16 million in April 2007.  

Coconut oil, ranked third with total revenue of $147.97 million in April 2008, posted the highest growth of 125.5 percent from $65.61 million in April 2007.

Cathodes and Sections of Cathodes of Refined Copper, ranked fourth in April 2008 with sales amounting to $99.41 million or a negative growth of 2.4 percent from $101.84 million in April 2007.

Petroleum Products, ranked fifth with export receipts of $94.09 million or an annual growth of 3.3 percent from $91.06 million in April 2007.

Rounding up the list of the top ten exports for the month of April 2008 were Woodcrafts and Furniture valued at $92.67 million or an increase of 7.9 percent;   Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisted only of electrical wiring harness for motor vehicles) with receipts of $72.93 million or an increase of 2.8 percent; Other Products Manufactured from Materials Imported on Consignment Basis valued at $59.56 million or a growth of 8.4 percent; Gold (extracted from copper ores and concentrates) with proceeds billed at $42.87 million or 60.7 percent increment; and Metal Components with export revenue of $42.83 million or 22.2 percent increase from April 2007 level. 

Total receipts from the top ten exports reached $3.325 billion, or 76.9 percent of the total exports.

Fig. 1  Philippine Top Five Exports: April 2008 and 2007
(F.O.B. Value in Million US Dollars)
 

EXPORTS OF MANUFACTURED GOODS INCREASE BY 2.2 PERCENT

Accounting for 82.4 percent of the total receipts, export of Manufactured Goods in April 2008 was $3.562 billion or a growth of 2.2 percent from $3.484 billion in April 2007.  

Income from All Agro-Based Products in April 2008 went up by 48.1 percent to $296.45 million from $200.23 million in April 2007.

Earnings from Mineral Products in April 2008 reached $236.89 million or a 5.5 percent share of the total export revenue, recording a decline of 5.5 percent from $250.75 million in April 2007.

Export receipts from Special Transactions with a share of 3.1 percent increased by 41.8 percent to $133.98 million from $94.51 million in April 2007.  Similarly, Petroleum Products grew by 3.3 percent in April 2008 to $94.09 million from $91.06 million in April 2007.   Meanwhile, exports revenue of Forest Products went down by 45.4 percent to $1.88 million from $3.44 million recorded in April 2007.

Fig. 2  Philippine Exports by Commodity Group: April 2008 and 2007
(F.O.B. Value in Million US Dollars)
 

EXPORTS TO UNITED STATES ACCOUNT FOR 16.0 PERCENT

United States of America (USA) was the top market of the country for April 2008 with export receipts of $691.34 million, accounting for 16.0 percent of the country’s aggregate income for the month or an increase of 8.7 percent from $635.83 million in April 2007.

Japan followed as the second top market of the country for April 2008 with export earnings of $664.50 million or a 15.4 percent share of the total exports with an increment of 14.4 percent from $580.88 million in April 2007.

People�s Republic of China emerged as the third biggest market for April 2008 with shipments amounting to $520.64 million or 12.0 percent of the total exports, an increase of 24.8 percent from a year ago level of $417.35 million.

Hong Kong ranked fourth in April 2008 with a $388.28 million or 9.0 percent of the total exports, down by 23.6 percent from $507.88 million in April 2007.

Other top ten markets for April 2008 were Republic of Korea, $365.63 million; Netherlands, $323.26 million; Singapore, $205.39 million; Germany, $197.56 million; Malaysia, $171.38 million; and Taiwan, $137.48 million.

Total export receipts from RP’s top ten markets for the month of April 2008 amounted to $3.665 billion or 84.8 percent of the total.

Fig. 3  Philippine Top Exports by Country: April 2008

(F.O.B. Value in Million US Dollars)

Technical Note:

Starting on January 2007 Press Release, analysis and tables are based on 2004 Philippine Standard Commodity Classification (PSCC) groupings (as amended in 1999).  This is in compliance with   NSCB   Resolution No. 03, Series of 2005 entitled "Approving and Adopting the 2004 Philippine Standard Commodity Classification" by all concerned government agencies and instrumentalities.

Source:    Foreign Trade Statistics Section
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines