MERCHANDISE EXPORT PERFORMANCE
April 2014
(Preliminary)
EXPORTED COMMODITIES FOR APRIL 2014 UP BY 0.8 PERCENT
Total export earnings in April 2014 amounted to $4.544 billion, a 0.8 percent growth from $4.506 billion recorded value in April of 2013. The positive growth was mainly brought about by the increase of six major commodities out of the top ten commodities for the month. These are: processed food and beverages; other mineral products; machinery and transport equipment; ignition wiring set and other wiring sets used in vehicles, aircrafts and ships; articles of apparel and clothing accessories; and woodcrafts and furniture. Total merchandise exports for January to April 2014 registered a 5.4 percent increase to $18.859 billion in 2014 from $17.894 billion in same period of 2013.
ELECTRONIC PRODUCTS DECREASE BY 2.5 PERCENT
Electronic Products remained as the country’s top export with total receipts of $1.817 billion, accounting for 40.0 percent of the total exports revenue in April 2014. It decreased by 2.5 percent from $1.863 billion registered in April 2013. By major groups of electronic products, Components/Devices (Semiconductors), comprised 27.7 percent of the total exports and shared the biggest with export earnings worth $1.260 billion and went down by 16.4 percent from $1.508 billion recorded in April 2013.
Other Manufactures was the second top export earner in April 2014 with export revenue of $376.31 million, decreased by 12.2 percent from $428.4 million in April 2013.
Woodcrafts and Furniture recorded as the country’s third top export with revenue valued at $271.28 million or 6.0 percent share to total exports. It increased by 0.9 percent from $268.85 million in same period a year ago.
Other Mineral Products ranked fourth, with earnings amounting to $270.26 million in April 2014, contributing 6.0 percent share to the total export receipts. This recorded a 30.9 percent increase from the previous year level of $206.49 million.
Machinery and Transport Equipment, with 5.2 percent share to the total export receipts, ranked fifth with value posted at $236.80 million. It increased by 18.1 percent from $200.55 million recorded value during the same month in 2013.
Rounding up the list of the top ten exports for the month of April 2014 were Articles of Apparel and Clothing Accessories with export earnings of $163.71 million, increased by 4.0 percent; Chemicals with export receipts of $162.76 million, down by 3.9 percent; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships with proceeds billed at $161.50 million, increased by 9.7 percent; Processed Food and Beverages with export receipts of $131.67 million, rose by 110.1 percent and registered the highest year-on-year increase among the top ten exports in April 2014; and Metal Components with total receipts of $114.04 million, registered a negative year on year change of 4.3 percent.
Total receipts from the top ten exports reached $3.706 billion, or 81.6 percent of the total exports.
EXPORTS OF MANUFACTURED GOODS STAND AT $3.713 BILLION
External shipments of Manufactured Goods were valued at $3.713 billion, accounting for 81.7 percent of the total export receipts in April 2014. It decreased by 1.4 percent from $3.766 billion recorded in April 2013.
Revenue from Total Agro-Based Products, with a share of 8.2 percent in April 2014, amounted to $372.08 million. It increased by 18.1 percent from $315.07 million in April 2013.
Mineral Products recording a 7.0 percent share, increased by 0.2 percent to $316.03 million in April 2014 from $315.48 million in April 2013.
Commodities exported from Special Transactions, comprising 2.0 percent share of the total exports revenue in April 2014, rose by 24.2 percent to $90.41 million from $72.80 million in same month a year ago.
Proceeds from Petroleum Products, accounting for 0.9 percent share of the total exports revenue, increased by 38.5 percent to $41.72 million from $30.13 million reported value in 2014.
Moreover, Forest Products with 0.2 percent share, increased by 37.6 percent to $10.19 million in April 2014 from $7.40 million in same month in 2013.
JAPAN ACCOUNTS FOR 20.7 PERCENT TO TOTAL EXPORTS
Japan including Okinawa remained as the country’s top destination of exports with revenue amounting to $939.16 billion, comprising 20.7 percent share to total exports for April 2014. It decreased by 5.5 percent from $993.99 million recorded value in same month a year ago.
United States of America (USA) including Alaska and Hawaii ranked second, accounting 16.2 percent to total exports, with export receipts valued at $735.20 million in April 2014. This recorded an increase of 7.2 percent from $685.97 million in same month last year.
People’s Republic of China with 12.6 percent share to total exports, ranked third with shipments valued at $570.70 million. It rose by 1.9 percent from $560.23 million a year ago.
Singapore placed fourth, representing an 8.3 percent share to total exports, with export earnings worth $379.06 million. It increased by 22.2 percent from $310.08 million posted in April 2013.
Hong Kong ranked fifth in April 2014 with $367.60 million or 8.1 percent share of the total exports. It accelerated by 32.60 percent from $277.23 million year ago level.
Other top ten market destinations for April 2014 were: Republic of Korea, $213.52 million; Thailand, $197.33 million; Germany, $193.15 million; Taiwan, $149.51 million; and Netherlands, $142.90 million.
Total export receipts from the country’s top ten markets destinations for the month of April 2014 was valued at $3.888 billion or 85.6 percent of the total.
EXPORTS TO EAST ASIA VALUED AT $2.246 BILLION
The country’s merchandise exports to countries in East Asia in April 2014 accounted for 49.4 percent share to total exports, amounting to $2.246 billion or a decrease of 0.002 percent from its April 2013 figure of $2.246 billion.
Commodities exported to ASEAN member-countries comprised 17.0 percent of the total exports in April 2014 and was valued at $774.35 million. This registered a decrease of 0.1 percent from $775.13 million posted in same month a year ago.
Exports to European Union member-countries, with 11.1 percent share to total merchandise exports, amounted to $502.97 million, a 1.3 percent decrease from $509.62 million recorded in April 2013.
Technical Note:
1.) Starting with the March 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings. 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.
2.) Starting 2013 export revised FOB value, all transactions that passes through all Value Added Service Providers (VASPs) of Bureau of Customs (BOC) and Philippine Economic and Zone Authority (PEZA) were included. Physical export declaration and electronic data files were the basis of export statistics.
(Sgd) Lisa Grace S. Bersales
National Statistician
