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

AUGUST 2007 MERCHANDISE EXPORTS DOWN BY 4.8 PERCENT

Export earnings in August 2007 went down by 4.8 percent to $4.071 billion from $4.274 billion in August 2006.  This resulted to a minimal increase of 4.8 percent in the merchandise exports during January to August to $32.796 billion from $31.303 billion during the same eight-month period in 2006.

ELECTRONIC PRODUCTS DECREASE BY 4.0 PERCENT

Accounting for 63.7 percent of the aggregate export revenue in August, Electronic Productsdecreased by 4.0 percent to $2.591 billion from $2.700 billion in August 2006.  This is due to the decline in the outward shipments of components/devices (semiconductors), electronic data processing and telecommunication.

Articles of Apparel and Clothing Accessories is still the countrys second top earner with a combined share of 5.4 percent and an aggregate receipt of $218.50 million or 10.7 percent lower than $244.68 million in August 2006.

Petroleum Products ranked third with total revenue of $83.63 million, or a decrease of 3.3 percent from $86.51 million in August 2006, which is caused by the decline in the shipments of naptha, reformate or preparations for preparing spirits.

Woodcrafts and Furniture ranked fourth with sales amounting to $77.46 million or a growth of 18.6 percent from $65.33 million in August 2006.  This is due to the increase in the outbound shipments of other builders joinery and carpentry of wood, n.e.s.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships(consisted only of electrical wiring harness for motor vehicles) ranked fifth with export receipts of $70.11 million or a year-on-year decline of 8.1 percent from $76.29 million in August 2006.

Rounding up the list of the top exports for the month of August 2007 were Coconut Oil, $66.03million or a growth of 45.5 percent; Other Products Manufactured from Materials Imported on Consignment Basis, $52.50 million or a decrease of 33.8 percent; Metal Components with proceeds billed at $40.87 million or a growth of 14.7 percent; Bananas (Fresh), $35.71 million or a growth of 16.1 percent; and Cathodes and Section of Cathodes of Refined Copper, with export revenue of $33.05 million or 71.4 percent decline from the same month in 2006; the highest decline recorded in August 2007.  The decline may possibly due to the scheduled maintenance of the equipment and machineries of some establishments which affected the production of the said commodity.

Total receipts from the top ten exports reached $3.269 billion, or 80.3 percent of the total exports.

Fig. 1  Philippine Top Exports: August  2007 and 2006
(F.O.B. Value in Million US Dollars)
 

EXPORTS OF MANUFACTURED GOODS DOWN BY 3.3 PERCENT

Accounting for 87.6 percent of the total receipts, export of Manufactured Goods was $3.565 billion, or 3.3 percent decline from $3.685 billion in August 2006.  

All Agro-Based Products with a 5.0 percent share of the total export receipts generated a combined income of $201.71 million or a growth of 17.3 percent from $172.01 million in August 2006.  This is due to the increase in the shipments of coconut oil.

Earnings from Mineral Products reached $114.59 million or 2.8 percent share of the total export revenue, recording a decline of 42.7 percent from $199.81 million in August 2006.

Petroleum Products, on the other hand, declined by 3.3 percent to $83.63 million from $86.51 million in August 2006.  However, total export receipts for Petroleum Products during January to August 2007 remained to be positive at 4.4 percent to $668.09 million from $640.25 million during the same eight-month period in 2006. 

Export receipts of Special Transactions posted a negative growth of 19.7 percent to $102.69 million from $127.89 million in August 2006.

Meanwhile, exports revenue of Forest Products recorded a growth of 17.8 percent to $3.25 million from $2.76 million in August 2006.

Fig. 2  Philippine Exports by Commodity Group: August 2007 and 2006
(F.O.B. Value in Million US Dollars)
 

EXPORTS TO UNITED STATES ACCOUNT FOR 18.8 PERCENT

Accounting for 18.8 percent of the countrys aggregate income for the month, United States of America (USA) remained to be the top market of the country for August with export receipts of $765.81 million, or a decline of 5.7 percent from $811.87 million in August 2006.

Despite a decline of 1.6 percent to $623.91 million from $634.28 million in August 2006, Japanremained to be the second top market for the month with a 15.3 percent share of the total exports.

Peoples Republic of China emerged as the third biggest market for the month with shipments amounting to $464.55 million or 11.4 percent of the total, up by 9.8 percent from its year-ago level of $423.23 million.

Hong Kong, ranked fourth with $426.42 million or 10.5 percent of the total revenue, up by 27.6 percent from $334.23 million in August 2006.

Other top markets for August 2007 were Netherlands, $314.73 million; Singapore, $237.92 million; Malaysia, $221.10 million; Germany, $160.47 million; Taiwan, $129.37 million; andRepublic of Korea, $120.42 million.

Total export receipts from RPs top ten markets for the month of August 2007 amounted to $3.465 billion or 85.1 percent of the total.

Fig. 3  Philippine Exports by Top Markets : August 2007
 (F.O.B. Value in Million US Dollars)

Technical Note:

Starting with the January 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings.  This 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.

Source:    Foreign Trade Statistics Section
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines