* Includes transactions that passed through Automated Export Documentation System (AEDS).
p - preliminary
r - revised

MERCHANDISE EXPORTS REGISTER 21.3 PERCENT INCREMENT

Export earnings in August 2006 went up by 21.3 percent to $4.261 billion from $3.956 billion during the same period of the previous year. The double-digit increment was observed since February of the current year.

Receipts from merchandise exports during January to August grew by 16.9 percent to $30.954 billion from $26.487 billion during the same period a year earlier.

ELECTRONIC PRODUCTS UP BY 14.7 PERCENT

Electronic Products, accounting for 63.2 percent of the aggregate export revenue in August, recorded an increase of 14.7 percent to $2.694 billion from $2.349 billion a year ago.

Among the major groups of electronic products, Components/Devices (Semiconductors) got the major share with 47.8 percent to total exports, posting a positive growth at 18.0 percent to $2.039 billion from $1.728 billion during the same month in 2005. The other electronic products group that showed increases were Electronic Data Processing at 6.8 percent with a share of 12.1 percent, Automotive Electronics at 18.0 percent with a share of 0.8 percent, Office Equipment at 9.4 percent with a share of 0.5 percent, Telecommunication at 25.8 percent with a share of 0.4 percent, Control and Instrumentation at 115.6 percent with a share of 0.1 percent, and Medical/Industrial Instrumentation at 182.0 percent with a share of 0.02 percent to total exports.

 Articles of Apparel and Clothing Accessories remained as the countrys second top earner with a combined share of 5.7 percent and an aggregate receipt of $244.57 million or 1.4 percent higher than $241.32 million a year ago. This was brought about by the bulk order of mens and womes wear, as well as jerseys, pullovers, cardigans, waistcoats and similar articles, of cotton, knitted/crocheted.

Cathodes and Sections of Cathodes, of Refined Copper, ranked third with sales amounting to $115.53 million or an acceleration of 298.4 percent from $29.00 million.

Other Products Manufactured from Materials Imported on Consignment Basis, ranked fourth with export receipts of $79.28 million or a year-on-year growth of 105.2 percent from $38.64 million.

Petroleum Products, ranked fifth with total revenue of $78.04 million reflecting a 125.6 percent climb from $34.60 million during the same period of 2005. The growth in petroleum products can be attributed to the higher demand in fuel oils, petroleum naphtha and aviation fuel.

Rounding up the list of the top exports for the month of August 2006 were; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consists only of electrical wiring harness for motor vehicles), $76.24 million or a year-on-year growth of 19.0 percent; Woodcrafts and Furniture, with revenue recorded at $65.28 million or an annual increase of 56.8 percent. Coconut Oil with an export valued at $45.37 million posting a decline of 25.5 percent from the same period in 2005.   Metal Components with proceeds billed at $35.66 million recorded an increment of 14.74 percent from $31.08 million. Bananas (Fresh) recorded the least export receipts at $30.66 million.

Total receipts from the top ten exports reached $3.465 billion, or 81.3 percent of the total exports.

Fig. 1  Philippine Top Exports: August 2006 and 2005
(F.O.B. Value in Million US Dollars)

EXPORTS OF MANUFACTURED GOODS WENT UP BY 17.1 PERCENT

Accounting for 87.5 percent of the total receipts, export of Manufactured Goods was $3.727 billion with a 17.1 percent growth from $3.182 billion during the same period of 2005.  

Earnings from Mineral Products combined for $199.81 million or 4.7 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group gained by as much as 179.7 percent from $71.43 million.

Income from All Agro-Based Products rose by 4.7 percent to $172.85 million from $165.06 million while receipts from exports of Special Transactions inched up by 43.0 percent to $80.45 million from $56.27 million.

Petroleum Products recorded earnings of $78.04 million, while Forest Products contributed $2.76 million.

Fig. 2  Philippine Exports by Commodity Group: August 2006 and 2005
(F.O.B. Value in Million US Dollars)

 

EXPORTS TO UNITED STATES ACCOUNT FOR 19.0 PERCENT

Exports to United States valued at $807.76 million, accounted for 19.0 percent of the countrys aggregate income for the month. Receipts grew by 14.8 percent from last year's reported figure of $703.82 million.

Japan followed with a 14.8 percent share. With earnings of $632.42 million, exports to Japan gained by 26.9 percent from  $498.25 million.

Peoples Republic of China emerged as the third biggest market for the month as shipments of local goods amounted to $422.35 million or 9.9 percent of the total. Exports moved up by 24.7 percent from $338.79 million compared to the same period of 2005.

Netherlands, accounted for 8.9 percent of the total revenue, with $379.38 million reflecting a 7.1 percent growth from $354.24 million during the same month a year ago.

Other top markets for August 2006 were: Hong Kong, $334.19 million; Singapore, $270.57 million; Malaysia, $270.15 million; Taiwan, $225.67 million; Germany, $175.05 million; and Republic of Korea, $132.59 million.

Total export receipts from RPs top ten markets for the month of August amounted to $3.650 billion or 85.7 percent of the total.

Fig. 3  Philippine Top Exports by Country: August 2006
(F.O.B. Value in Million US Dollars)

Technical Notes:

1. Analysis and Tables 1 to 3 in this Press Release are based on data using the 1993 Philippine Standard Commodity Classification (PSCC) groupings  (as amended in 1999).

2. Starting with the July 2006 series of Foreign Trade Statistics (FTS), additional tables (Tables 4 and 5) using the 2004 PSCC groupings are provided.

3.The adoption of the 2004 PSCC 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.

4. In view of the adoption of the new classification system, the NSO shall issue two sets of detailed tables: 7-digit following the 1993 PSCC (as amended in 1999) and 10-digit using the 2004 PSCC simultaneously, until the December 2006 FTS. However, beginning January 2007 FTS, only the 2004 PSCC groupings will be released by NSO.

5. Detailed tables at commodity levels are available upon request from the NSO-Industry and Trade Statistics Department, 10 days after the monthly press release.

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