EXPORTS FOR JANUARY TO AUGUST GROW BY 14.7 PERCENT

Merchandise exports for the first eight months of 1999 grew by 14.7 percent to $21.865 billion from $19.059 billion a year earlier.

Total receipts for August 1999 increased by 21.1 percent to $3.212 billion from $2.652 billion last year. This is the highest growth posted since the 22.0 percent increase in January of this year.

 
ELECTRONICS ACCOUNT FOR 53.7 PERCENT OF TOTAL RECEIPT

Electronics and Components topped dollar earnings for the month. Shipments accounted for 53.7 percent of aggregate receipts and reached $1.725 billion, up by 27.0 percent from $1.359 billion last year.

The second top earner consisted of Input/Output/Peripheral Units with combined export sales amounting to $268.11 million which was 48.3 percent higher than $180.74 million a year ago.

Articles of Apparel and Clothing Accessories was the third top export with value amounting to $251.91 million increasing by 8.9 percent from $231.40 million in August 1998.

Ignition Wiring Sets and Other Wiring Sets Used in Vehicles, Aircrafts and Ships ranked fourth with receipts amounting to $51.37 million growing by 44.7 percent over $35.51 million last year.

Exports of Woodcraft and Furniture grew by 17.0 percent to $47.55 million from $40.63 million a year ago.

Earnings from Other Products Manufactured from Materials Imported on Consignment Basis ranked sixth despite an 18.4 percent decline to $32.82 million from $40.22 million last year.

Rounding up the list of the top exports for August 1999 were Metal Components, $32.05 million; Coconut Oil, $23.94 million; Petroleum Products, $23.11 million; and Bananas (Fresh), $18.18 million.

Aggregate payment for the top ten exports for the month amounted to $2.474 billion, or 77.0 percent of the total.

 
RECEIPTS FROM MANUFACTURED GOODS UP BY 22.7 PERCENT

Manufactured Goods posted a 22.7 percent increase as sales reached $2.929 billion from $2.387 billion a year earlier. This major export group accounted for 91.2 percent of the total receipts.

Income from Agro-Based and Other Agro-Based Products combined for $109.46 million or 3.4 percent of the total. Compared to last year, aggregate revenue for these commodity groups declined by 18.0 percent from $133.42 million.

Other major commodity groups and their respective export values wereSpecial Transactions, $94.36 million; Mineral Products, $51.86 million;Petroleum Products, $23.11 million; and Forest Products, $3.88 million.

 
US STILL TOP MARKET FOR EXPORTS

The US market cornered 31.8 percent of total export for the month. Sales increased by 4.3 percent to $1.023 billion from $980.86 million a year earlier.

With a 12.1 percent share, Japan was the second biggest market. Receipts amounted to $388.55 million, higher by 16.8 percent over $332.53 million a year ago.

Taiwan was the third biggest market for the month. Exports valued at $308.23 million accounted for 9.6 percent of the aggregate.

Netherlands reported purchases worth $284.89 million, which was 42.4 percent higher than $200.13 million in 1998 and accounted for 8.9 percent of the total.

Other top markets for August 1999 were Singapore, $224.05 million;Hongkong, $175.73 million; United Kingdom of Great Britain, $161.82 million; Malaysia, $132.06 million; Germany, $98.75 million; and Republic ofKorea, $77.82 million.

Shipments to the top ten markets accounted for 89.5 percent of the aggregate revenue and amounted to $2.875 billion.

Source: National Statistics Office
              Manila, Philippines