1999 EXPORT RECEIPTS REACH $35.032 BILLION

Merchandise export receipts for 1999 increased by 18.8 percent to $35.032 billion from $29.496 billion in 1998.

For December 1999 alone, total receipts went up by 16.7 percent to $2.943 billion from $2.523 billion last year.

Fig. 1. Philippine Export by Month: 1999
(F.O.B. Value in Million US Dollar)

ELECTRONICS AND COMPONENTS GAIN 11.7 PERCENT

Receipts from Electronics and Components accounted for 52.1 percent of the aggregate December export revenue and went up by 11.7 percent to $1.532 billion from $1.372 billion last year.

Input/Output/Peripheral Units emerged as the second top earner with a combined share of 8.7 percent and aggregate receipts of $256.10 million. This was 32.9 percent higher compared to $192.76 million in 1998.

Third top earner for the month consisted of Articles of Apparel and Clothing Accessories valued at $220.23 million, which was a 10.9 percent increase from $198.56 million in 1998.

Woodcraft and Furniture ranked fourth with sales amounting to $47.34 million for a year-on-year increase of 44.7 percent from $32.71 million last year.

Revenue from Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircraft and Ships grew by 17.5 percent to $41.33 million from $35.17 million a year ago.

Exports of Coconut Oil went down by 4.0 percent to $30.62 million from $31.89 million in 1998.

Rounding up the list of the top exports for December 1999 were Metal Components, $28.61 million; Copper Concentrates, $25.21 million; Other Products Manufactured from Materials Imported on Consignment Basis,$24.92 million; and Bananas (Fresh), $24.33 million.

Aggregate receipts for the top ten exports amounted to $2.231 billion, or 75.8 percent of the total.

Fig. 2. Philippine Top Exports in December: 1998 & 1999
(F.O.B. Value in Million US Dollar)

MANUFACTURED GOODS POST 15.3 PERCENT INCREASE

Accounting for 90.2 percent of the total, exports of Manufactured Goodsposted a 15.3 percent increase as sales reached $2.654 billion from $2.302 billion a year earlier.

Income from Agro-Based and Other Agro-Based Products combined for $123.54 million or 4.2 percent of the total. Aggregate revenue for these commodity groups grew by 11.5 percent from $110.75 million last year.

Fig. 3. Philippine Exports by Commodity Group in December: 1998 & 1999
(F.O.B. Value in Million US Dollar)

EXPORTS TO US ACCOUNT FOR 28.2 PERCENT

Accounting for 28.2 percent of the total December receipts, the value of exports to the United States of $829.50 million increased by 1.7 percent from $815.43 million last year.

Japan followed with a 13.9 percent share. Valued at $407.79 million, exports to Japan rose by 32.3 percent from $308.14 million last year.

Exports to Singapore, the third biggest market, accounted for 7.8 percent of the total and registered a 44.8 increase in sales amounting to $230.23 million from $158.96 million.

Taiwan emerged as the fourth biggest market as shipments of local goods amounted to $228.21 million or 7.8 percent of the total. Compared to December last year, receipts increased by 52.9 percent from $149.27 million.

Other top markets month were Netherlands, $223.17 million; Hongkong,$151.90 million; United Kingdom of Great Britain, $137.97 million; Malaysia, $120.63 million; Republic of Korea, $117.88 million; andGermany, $102.62 million.

Total export receipts from the top ten markets amounted to $2.550 billion or 86.64 percent of the total.

Fig. 4. Philippine Top Exports by Country in December: 1998 & 1999
(F.O.B. Value in Million US Dollar)

Source: National Statistics Office
              Manila, Philippines