* Includes transactions that passed through Automated Export Documentation System (AEDS)- Subic Bay    Metropolitan Authority (SBMA).
p - preliminary
r - revised

Merchandise exports register 0.8 percent increase 

Export earnings for August 2005 slightly went up by 0.8 percent to $3.458 billion from $3.430 billion during the same period a year earlier.

Receipts from merchandise exports during the period January to August 2005 gained by 4.1 percent to $26.360 billion from $25.323 billion during the same period last year.

Electronic products up by 1.2 percent  

Electronic products, accounting for 66.4 percent of the aggregate export revenue in August, inched up by 1.2 percent to $2.295 billion from $2.267 billion a year ago. Increases were observed in three electronic groups with control and instrumentation contributing the highest positive growth of 242.3 percent.

Among the major groups of electronic products, components/devices (Semiconductors) got the biggest share with 48.6 percent to total exports. Semiconductors posted a positive rate of 4.5 percent to $1.681 billion from $1.608 billion during the same month in 2004 due to the higher demand in integrated circuits (IC), diodes and fixed capacitors.

Articles of apparel and clothing accessories remained as the country’s second top earner with a combined share of 7.0 percent and an aggregate receipt of $241.29 million or 5.1 percent higher than $229.61 million a year ago. This was brought about by the bulk order of women's wear.

Ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles), ranked third with sales amounting to $64.04 million or a year-on-year decline of 26.6 percent from $87.2 million. 

Coconut oil, ranked fourth with total revenue of $60.88 million reflecting a 23.4 percent increase from $49.34 million during the same period of 2004. This was attributed to the higher demand in crude coconut (copra) oil.

Revenue from woodcrafts and furniture went up by 15.0 percent to $41.64 million from $36.19 million. Exportations made on wooden furniture mainly contributed to this increase. 

Rounding up the list of the top exports for the month of August 2005 were Other products manufactured from materials imported on consignment basis, $37.66 million; petroleum products, $34.60 million; metal components, $31.07 million; cathodes and sections of cathodes, of refined copper, 29.0 million; and bananas (fresh), $25.3 million.

Total receipts for the top ten exports reached $2.860 billion, or 82.7 percent of the total exports.

Fig. 1  Philippine Top Exports: August 2004 and 2005
(F.O.B. Value in Million US Dollars)

Exports of manufactured goods register 1.3 percent increase

Accounting for 90.4 percent of the total receipts, exports of manufactured goods was worth $3.126 billion, an increment of 1.3 percent  from $3.087 billion during the same period last year.

Earnings from all agro-based products combined for $164.95 million or 4.8 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group grew by 5.7 percent from $156.05 million.

Income from   mineral products went up by 6.2 percent to $71.43 million from $67.26 million while receipts from exports of special transactions decreased by 24.1 percent to $57.76 million from $76.10 million.

Petroleum products registered earnings of $34.60 million, while forest products recorded $3.62 million.

Fig. 2  Philippine Exports by Commodity Group: August 2004 and 2005
(F.O.B. Value in Million US Dollars)

 

Exports to United States account for 20.0 percent

Accounting for 20.0 percent of the country's aggregate income for the month, exports to United States was valued at $691.77 million. Receipts went down by 18.5 percent from last year's reported figure of $848.70 million. 

Japan followed with a 13.6 percent share. Earnings at $472.20 million, dropped by 30.2 percent from $676.01 million.

Netherlands emerged as the third biggest market for the month as shipments of local goods amounted to $354.18 million or 10.2 percent of the total. Receipts accelerated by as much as 212.3 percent from $113.4 million during to the same period of 2004.

Exports to People's Republic of China accounting for 9.8 percent of the total receipts was worth $338.79 million, a 51.7 percent increase from $223.39 million during the same month a year ago.

Other top markets for August 2005 were: Hong Kong, with exports worth $265.42 million; Republic of Korea, $232.08 million;  Malaysia, $213.93 million; Singapore, $212.03 million; Taiwan, $156.69 million; and Thailand, $97.92 million.

Total export receipts from RP's top ten markets for the month of August amounted to $3.035 billion or 87.8 percent of the total.

Fig. 3  Philippine Top Exports by Country: August 2005
(F.O.B. Value in Million US Dollars)

Source:  Economic Indices and Indicators Division
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines