EXPORT EARNINGS FOR JANUARY TO AUGUST GROW BY 18.9 PERCENT

Merchandise exports for the first eight months of 1998 grew by 18.9 percent to $19.059 billion from $16.025 billion a year earlier.

Total receipts for August 1998 increased by 17.5 percent to $2.652 billion from $2.258 billion last year.

REVENUE FROM ELECTRONICS AND COMPONENTS ACCOUNTS FOR 51.2 PERCENT

Electronics and Components was the top dollar earner for the month. Shipments, accounting for 51.2 percent of the aggregate and posting a 37.2 percent increase, reached $1,356.71 million from $989.24 million last year.

Articles of Apparel and Clothing Accessories came out as second top export for the month with sales amounting to $230.33 million, which was a 4.5 percent downturn from $241.09 million a year ago.

In third spot, Input/Output Peripheral Units brought in $180.30 million which was 14.3 percent higher than $157.70 million a year ago.

Revenue from Coconut Oil exports registered a 28.7 percent decline as shipments dipped to $51.57 million from $72.30 million in 1997.

Woodcraft and Furniture inched up by 2.4 percent amounting to $40.60 million, which was higher than $39.65 million in 1997.

Earnings from Other Products Manufactured from Materials Imported on Consignment Basis moved to number six with a 48.0 percent increase to $39.78 million from $26.88 million last year.

Rounding-up the list of the top exports for August 1998 were Ignition Wiring Sets and Other Wiring Set Used in Vehicles Aircrafts and Ships, $34.98 million; Metal Components, $26.13 million; Tuna, $20.85 million; and Gold, $17.82 million.

Aggregate payments for the top ten exports for the month amounted to $1.999 billion, or 75.4 percent of the total.

RECEIPTS FROM MANUFACTURED GOODS UP BY 21.5 PERCENT

Manufactured Goods posted a 21.5 percent increase in revenue as sales reached $2,386.40 million, up from $1,963.40 million a year earlier. This major export group accounted for 90.0 percent of total receipts.

Income from Agro-Based and Other Agro-Based Products combined for $133.01 million or 5.0 percent of the total. Compared to the same month last year, aggregate revenue for these commodity groups decreased by 22.2 percent from $171.01 million.

Other major commodity groups and their respective shares were Mineral Products, $65.66 million; Special Transactions, $54.20 million; Petroleum Products, $8.57 million; and Forest Products, $4.42 million.

US TOP MARKET FOR AUGUST

The US market cornered 36.9 percent of total export for the month. Posting an 18.1 percent increase, sales to the United States amounted to $979.56 million from $829.42 million a year earlier.

With a 12.5 percent share, Japan was the second biggest market. Reported receipts amounted to $332.49 million which was 6.6 percent lower than $355.81 million a year ago.

Netherlands was the third biggest market for the month. Shipments of local goods amounted to $199.53 million, or 7.5 percent of the total.

United Kingdom of Great Britain, accounting for 6.2 percent of the total exports, reported purchases worth $165.25 million, which was 48.3 percent higher than $111.41 million in 1997.

Other top markets for August 1998 were Taiwan, $164.78 million; Singapore, $132.99 million; Hongkong, $123.41 million; Malaysia, $111.37 million; Germany, $76.71 million; and Thailand, $55.98 million.

Shipments to the top ten markets accounted for 88.3 percent of the aggregate export revenue and amounted to $2,342.07 million.