Merchandise Export Performance : August 2002

Reference Number: 

2002-166

Release Date: 

Thursday, October 3, 2002

 

MERCHANDISE EXPORTS REGISTERED 14.1 PERCENT INCREASE

For August 2002, reported earnings moved up by 14.1 percent to $2.990 billion from $2.621 billion during the same month a year ago.

Receipts from merchandise exports for January to August 2002 went up by 7.8 percent to $22.849 billion from $21.203 billion during the same period in 2001.

ELECTRONIC COMPONENTS ACCELERATED BY 17.7 PERCENT

Receipts from Electronic Components, accounting for 51.6 percent of the aggregate export revenue for the month, picked up by 17.7 percent to $1.544 billion from $1.312 billion last year.

Articles of Apparel and Clothing Accessories remained as the country�s second top earner with a combined share of 7.2 percent and an aggregate receipt of $216.63 million or 2.2 percent higher than $211.87 million a year earlier.

Woodcrafts and Furniture ranked third with a total revenue of $38.14 million reflecting a 6.7 percent increase from $35.75 million last year.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships ranked fourth with sales amounting to $38.07 million, a year-on-year decline of 29.1 percent from $53.70 million.

Revenue from Metal Components rose by 15.3 percent to $36.81 million from $31.93 million during the same month of 2001.

Rounding up the list of the top exports for the month of August 2002 were: Other Products Manufactured from Materials Imported on Consignments Basis, $34.57 million; Petroleum Products, $30.97 million; Coconut Oil, $29.88 million; Cathodes & Section of Cathodes, Of Refined Copper, $25.89 million; and Bananas (Fresh), $21.54 million.

Aggregate receipt for the top ten exports amounted to $2.017 billion, or 67.4 percent of the total exports.

Fig. 1. Philippine Top Exports in August: 2001 & 2002
( F.O.B. Value in Million US Dollar )

MANUFACTURED GOODS WENT UP BY 15.0 PERCENT

Accounting for 89.2 percent of the total receipts, exports of Manufactured Goods grew by 15.0 percent as sales reached $2.666 billion, from $2.318 billion during the same period a year earlier.

Income from Agro-Based Products, combined for $127.10 million or 4.2 percent of the total export revenue. Compared to last year, aggregate revenue for this commodity group dropped by 7.7 percent from $137.76 million.

Special Transactions increased by 16.9 percent to $109.61 million from $93.80 million, while receipt from exports of Mineral Products rose by 11.1 percent to $53.78 million from $48.40 million.

Petroleum Products posted $30.97 million, while Forest Products registered $2.52 million dollars worth of exports.

Fig. 2. Philippine Exports by Commodity Group in August: 2001 & 2002
( F.O.B. Value in Million US Dollar )

EXPORTS TO US ACCOUNT FOR 25.7 PERCENT

Accounting for 25.7 percent of the country's aggregate receipts for the month, exports to the United States valued at $767.86 million, gained by 5.4 percent from last year's reported figure of $728.79 million.

Japan followed with a 13.8 percent share. Valued at $412.42 million, exports to Japan increased by 12.3 percent from $367.23 million.

Netherlands accounted for 8.3 percent of the total receipts at $248.88 million, a decline of 13.4 percent from $287.56 million a year ago.

Hongkong emerged as the fourth biggest market for the month as shipments of local goods amounted to $220.44 million or 7.4 percent of the total. Compared to the same month last year figure, receipts went up by 59.5 percent from $138.20 million. Other top markets for August 2002 were: Taiwan, $206.67 million; Singapore, $195.02 million; Malaysia, $134.85 million; Republic of Korea, $116.22 million; Thailand, $111.48 million; and Germany, $106.58 million.

Total export receipts from RP's top ten markets amounted to $2.520 billion or 84.3 percent of the total.

Fig. 3. Philippine Top Exports by Country in August, 2002
( F.O.B. Value in Million US Dollar )

Source: National Statistics Office
              Manila, Philippines

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