Merchandise Export Performance : August 2015

Reference Number: 

2015-085

Release Date: 

Friday, October 9, 2015

MERCHANDISE EXPORTS PERFORMANCE

 

AUGUST 2015

(Preliminary)

 

 

August

 

2015 p

2014 r

 

TOTAL EXPORTS

     FOB Value in Million US Dollars

     Year-on-Year Growth (Percent)  

Electronic Products

     FOB Value in Million US Dollars

     Year-on-Year Growth (Percent)

 

 

5,127.48

-6.3

 

2,353.42

3.3

 

 

5,471.23

10.4

 

2,277.18

9.7

 

 
Top 10 Philippine Exports to All Countries: August 2015 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Electronic Equipment and Parts
185.7
Other Mineral Products
-63.2
Machinery and Transport Equipment
41.4
Articles of Apparel and Clothing Accessories
-39.3
Woodcrafts and Furniture
9.3
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
-37.4
Electronic Products
3.3
Chemicals
-27.8
 
 
Metal Components
-10.6
   
Other Manufactures
-7.9
                        p-preliminary, r-revised
 

EXPORTED GOODS IN AUGUST 2015 DECREASED BY 6.3 PERCENT

The Philippines’ export sales totaled $5.127 billion in August 2015, a 6.3 percent decrease from $5.471 billion recorded value in August of 2014.  The negative growth was mainly brought about by the decrease of six major commodities out of the top ten commodities for the month.  These include other mineral products; articles of apparel and clothing accessories; ignition wiring set and other wiring sets used in vehicles, aircrafts and ships; chemicals; metal components; and other manufactures (Table 1).

Combined   merchandise   exports   for the first eight-month period of 2015 registered a 4.4 percent decrease, that is from $41.130 billion in 2014 to $39.341 billion in same period of 2015 (Table 1a).

 

ELECTRONIC PRODUCTS INCREASED BY 3.3 PERCENT

Electronic Products remained as the country’s top export with total receipts of $2.353 billion, accounting for 45.9 percent of the total exports revenue in August 2015. It increased by 3.3 percent from $2.277 billion registered in August 2014.  Components/Devices   (Semiconductors),   had   the   biggest   share  of 33.5 percent among electronic products and grew by 8.6 percent to $1.718 billion in August 2015 from $1.581 billion in August 2014.

Machinery and Transport Equipment was the second top export earner in August 2015   with   export   revenue   of  $405.89 million, went up by 41.4 percent from $287.03 million in August 2014.

Other Manufactures, with 6.7 percent share to the total export receipts, ranked third with value posted at $343.38 million. This recorded a decrease of 7.9 percent from August 2014 value of $372.77 million.

Woodcrafts and Furniture ranked fourth, with sales amounting to $275.70 million in August 2015, contributing 5.4 percent share to the total export receipts. This registered a 9.3 percent increase from the previous year level of $252.21 million.

Electronic Equipment and Parts was recorded as the country’s fifth top export with revenue valued at $268.66 million or 5.2 percent share to total exports. It rose by 185.7 percent from $94.03 million in same period of 2014.

Rounding up the list of the top ten exports for the month of August 2015 were: Ignition Wiring Set and Other Wiring Sets Used in  Vehicles, Aircrafts and Ships with export earnings of $153.72 million, decelerated by 37.4 percent;  Metal Components with export receipts of $125.38 million, dropped by 10.6 percent; Chemicals with proceeds billed at $123.56 million, declined by 27.8 percent; Other Mineral Products with export receipts of $117.30 million, fell by 63.2 percent; and Articles of Apparel and Clothing Accessories with total receipts of $103.02 million, decreased by 39.3 percent.

Total receipts from the top ten exports reached $4.270 billion, or 83.3 percent of the total exports.

 

EXPORTS OF MANUFACTURED GOODS WENT UP BY 0.4 PERCENT

Outward shipments of Manufactured Goods were valued at $4.437 billion, accounting   for 86.5 percent of the total export receipts in August 2015.  It went up by 0.4 percent from $4.420 billion recorded in August 2014 (Table 2). 

Receipts from Total Agro-Based Products, with a share of 6.1 percent in August 2015, amounted to $314.85 million.  It dropped by 37.4 percent from $503.30 million in August 2014.

Mineral  Products  which  registered   a   4.2   percent  share, decreased by 48.4 percent from $413.92 million in August 2014 to $213.63 million in August 2015.

Merchandise exports from Special Transactions, which comprised 2.3 percent share   of   the   total  exports revenue in August 2015.  This registered an increase of 4.6 percent to $118.09 million from $112.88 million in August 2014. 

Petroleum Products with 0.8 percent share, rose by 160.5 percent to $41.02 million in August 2015 from $15.75 million in same month in 2014.

Moreover, sales from Forest Products which accounted for 0.05 percent share of the total exports, decreased by 55.3 percent from $5.66 million in August 2014 to $2.53 million reported value in same period of 2015.

 
 

JAPAN ACCOUNTED FOR 20.0 PERCENT TO TOTAL EXPORTS

Japan including Okinawa remained as the country’s top destination of exports with revenue amounting to $1.028 billion, comprising 20.0 percent share to total exports for August 2015.  It decreased by 1.6 percent from $1.044 billion recorded value in same month a year ago.

United States of America (USA) including Alaska and Hawaii ranked second, accounting 15.0 percent to total exports, with export receipts valued at $766.38 million in August 2015. This recorded a decline of 4.0 percent from $798.26 million in same month last year.

People’s Republic of China with 12.2 percent share to total exports, ranked third   with   shipments   valued   at   $627.31  million   in August 2015.  It went down by 23.5 percent from $820.04 million in same month a year ago.

Hong Kong ranked fourth in August 2015 with $515.01 million or 10.0 percent share of the total exports.  It rose by 8.1 percent from $476.24 million year ago level.

Singapore placed fifth, representing a 6.9 percent share to total exports, with export earnings worth $353.48 million.  It declined by 12.7 percent from $404.93 million posted in August 2014.

Other top ten market destinations for August 2015 were: Germany, $211.15 million; Republic of Korea,   $208.16 million;   Thailand,   $205.93 million;  Liberia, $160.55 million; and Taiwan, $156.13 million.

Total export receipts from the country’s top ten market destinations for the month of August 2015 was valued at $4.232 billion or 82.5 percent of the total (Table 3).

 

ALMOST HALF (49.5%) OF EXPORTS WERE FROM COUNTRIES IN EAST ASIA

Majority of the country’s merchandise exports in August 2015 were from countries in East Asia   which accounted for 49.5 percent share to total exports and valued at $2.538 billion.  It decreased by 6.3 percent from $2.707 billion of August 2014 figure.        

Commodities exported to ASEAN member countries comprised 14.6 percent of the total exports in August 2015 and was valued at $749.24 million. This registered a decrease of 3.0 percent from $772.50 million posted in same month a year ago.

Exports to European Union member countries, with 12.1 percent share to total merchandise exports amounted to $618.71 million.  It dropped by 10.7 percent from $692.67 million recorded in August 2014 (Table 3a).

 
 
 
 
 
 

Technical Notes:

1.) Starting with the June 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings.  This is in compliance with   the former NSCB   Resolution No. 03, Series of 2005 entitled “Approving and Adopting the 2004 Philippine Standard Commodity Classification” by all concerned government agencies and instrumentalities.

2.) Starting 2014 export revised FOB value, all transactions that pass through all Value Added Service Providers (VASPs) of Bureau of Customs (BOC) and Philippine Economic and Zone Authority (PEZA) were included.  Physical export declaration and electronic data files were the basis of export statistics.

 

 

 

            FOR THE NATIONAL STATISTICIAN:

 

               (Sgd.)  ESTELA T. DE GUZMAN
        (Deputy National Statistician, CRCSO)
                            Officer-in-Charge
 

 

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