MERCHANDISE EXPORT PERFORMANCE *
August 2010
( Preliminary )
* Includes transactions that passed through Automated Export Documentation System (AEDS).
p - preliminary
r - revised
MERCHANDISE EXPORTS FOR AUGUST 2010 UP BY 36.6 PERCENT
Total earnings for merchandise export in August 2010 amounted to $4.745 billion, higher by 36.6 percent from it's year ago level of $3.473 billion. Compared to previous month level, it recorded an increase of 5.4 percent from $4.504 billion posted in July 2010. Meanwhile, aggregate merchandise exports for the period January to August 2010 increased by 37.3 percent to $32.970 billion from $24.011 billion registered during the same eight - month period in 2009.
ELECTRONIC PRODUCTS INCREASED BY 45.3 PERCENT
Accounting for 63.0 percent of the total export revenue in August 2010, Electronic Products was the country�s top export with total receipts of $2.989 billion. It improved by 45.3 percent from $2.058 billion posted in August 2009. Components/Devices (Semiconductors) which comprised 50.9 percent of the total exports, had the biggest share from among the major groups of electronic products with export earnings amounting to $2.414 billion or an annual growth of 68.4 percent. Electronic Products also increased month-on-month by 4.5 percent from $2.862 billion in July 2010.
Articles of Apparel and Clothing Accessories followed as the second top earner in August 2010 with total export receipts of $180.92 million or a share of 3.8 percent to the total export revenue. It grew by 31.5 percent from $137.54 million recorded in August 2009.
Coconut Oil (including crude and refined) which comprised 2.8 percent share of total exports in August 2010 emerged as RP�s third top gainer with revenue valued at $132.27 million, an increase of 181.6 percent from $46.97 million recorded during the same month in 2009.
Ranked fourth in August 2010 and contributing 2.3 percent to the total export receipts was Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisting only of electrical wiring harness for motor vehicles) with revenue amounting to $107.23 million. This value was up by 46.3 percent from its year ago level of $73.29 million.
Woodcrafts and Furniture with 2.0 percent share to the total export receipts ranked fifth with value posted at $97.21 million or a 3.2 percent increase from $94.18 million registered in August 2009.
Rounding up the list of the top ten exports for the month of August 2010 were Other Products Manufactured from Materials Imported on Consignment Basis with export revenue of $77.95 million increased by 29.1 percent; Metal Components (excluding brakes and servo - brakes) with export earnings of $70.65 million accelerated by 51.7 percent; Cathodes & Sections of Cathodes of Refined Copper with export receipts of $41.95 million contracted by 12.3 percent, the only commodity among the top ten commodities that registered annual negative growth; Bananas (fresh) recorded sales amounting to $29.49 million expanded by 42.3 percent; and Petroleum Products with proceeds billed at $27.68 million and registering the highest increase among the top ten exports accelerated by 319.8 percent.
Total receipts from the top ten exports reached $3.755 billion, or 79.1 percent of the total exports.
Fig. 1 Philippine Top Five Exports: August 2010 and 2009
(F.O.B. Value in Million US Dollars)
EXPORTS OF MANUFACTURED GOODS STOOD AT $4.161 BILLION
Accounting for 87.7 percent of the total export receipts, outward shipments of Manufactured Goods in August 2010 reached $4.161 billion or a 36.3 percent increase from $3.053 billion recorded in the same period a year earlier. Month-on-month, it rose by 5.4 percent from $3.946 billion recorded in July 2010.
Income from Total Agro-Based Products comprising 6.3 percent of the total exports revenue in August 2010 expanded by 75.4 percent to $298.58 million from $170.22 million in August 2009. Compared to its previous month level, it climbed to 9.7 percent from $272.23 million recorded in July 2010.
Earnings from Mineral Products with a share of 2.7 percent in August 2010 reached $130.30 million. It increased by 10.0 percent from $118.47 million in August 2009. Similarly, export receipts from Special Transactions reflecting 2.6 percent share was higher by 3.9 percent to $124.96 million from $120.26 million in August 2009.
Petroleum Products accounting for 0.6 percent share of the total exports revenue accelerated by 319.8 percent to $27.68 million from $6.59 million in August 2009. Forest Products with less than 0.1 percent share of the total exports on the other hand, lowered by 40.2 percent from $4.50 million in August 2009 to $2.69 million in August 2010.
Fig. 2 Philippine Exports by Commodity Group: August 2010 and 2009
(F.O.B. Value in Million US Dollars)
EXPORTS TO SINGAPORE ACCOUNTED FOR 20.3 PERCENT
Singapore comprising 20.3 percent of the total exports for August 2010 emerged as the country�s top destination of exports for August 2010 with revenue amounting to $962.28 million. It was higher by 278.4 percent from $254.28 million recorded a year ago.
United States of America (USA) including Alaska and Hawaii followed as the second top market of the country for August 2010 with export earnings of $641.74 million or 13.5 percent share of the total exports. The amount increased by 2.2 percent from $628.00 million reported a year earlier.
Japan including Okinawa representing a 12.7 percent of the total exports came in third with shipments amounting to $603.68 million. Compared to its August 2009 level, the amount increased by 9.1 percent from $553.35 million.
People�s Republic of China ranked fourth in August 2010 with $589.39 million or 12.4 percent share of the total exports, expanded by 147.1 percent from it�s August 2009 level of $238.55 million.
Fifth in rank and accounting for 8.5 percent share of the total exports was Hong Kong with export earnings worth $404.27 million or an increase of 38.9 percent from $291.04 million posted in August 2009.
Other top ten markets for August 2010 were Republic of Korea, $196.09 million; Taiwan, $182.24 million; Netherlands, $160.71 million; Thailand, $156.99 million; and Germany, $153.58 million.
Total export receipts from RP�s top ten markets for the month of August 2010 amounted to $4.051 billion or 85.4 percent of the total.
Fig. 3 Philippine Top Exports by Country: August 2010
(F.O.B. Value in Million US Dollars)
EXPORTS FROM EASTERN ASIA WORTH $1.978 BILLION
Philippines total exports in August 2010 to Eastern Asia accounted for 41.7 percent of the county�s total exports. It amounted to $1.978 billion or an increase of 44.0 percent from it�s August 2009 level of $1.373 billion.
Exports to ASEAN member-countries representing 27.6 percent share of the total exports in August 2010 worth $1.311 billion, an annual positive growth of 130.8 percent from $567.97 million recorded in August 2009.
August 2010 total exports to European Union (EU) with a 11.3 percent contribution to total exports were valued at $536.21 million. It declined by 25.7 percent from $721.62 million registered in August 2009.
Fig. 4 Philippine Exports by Selected Economic Bloc: August 2010 & 2009
(F.O.B. Value in Million US Dollars)
Notes:
1/ - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan
2/ - includes Brunei Darusalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Vietnam
3/ - includes Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Latvia, and UK Great Britain & N. Ireland
Technical Note:
Starting with the January 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings (as amended in 1999). 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.
(Sgd.) CARMELITA N. ERICTA
Administrator
Source: Foreign Trade Statistics Section
Industry and Trade Statistics Department
National Statistics Office
Manila, Philippines
