Note:  The export figures for November and December 2003 incorporate electronic files based on the Automated Export Documentation System (AEDS) provided by the Bureau of Customs (BOC) as of January 29, 2004. The AEDS is a system that permits the paperless recording of semiconductors and electronic export shipments from Ecozones loaded at NAIA per Memorandum of Agreement between BOC, the Philippine Economic Zone Authority and Semi-conductors and Electronics Industries in the Philippines, Inc. The AEDS figures are still subject to further validation of the valuation of the shipments as reported by the exporting companies.

Merchandise exports increase by 9.0 percent

Registered export earnings for December 2003 increased by 9.0 percent to $3.176 billion from $2.914 billion during the same month last year. Based on the revised figures, the export earnings for November 2003 registered an almost flat growth rate, from $3.103 billion in 2002 to $3.086 billion.

Receipts from merchandise exports for January to December 2003 grew by 1.5 percent to $35.750 billion from $35.208 billion during the same period of 2002.

Electronic products up by 6.9 percent

Electronic products, accounting for 64.9 percent of the aggregate export revenue in December, registered an increment of 6.9 percent to $2.060 billion from $1.927 billion last year. On the other hand, the revised November exports for electronic products showed a decline of 4.3 percent from $2.244 billion in 2002 to $2.148 billion.

Among the major groups of electronic products, components/devices(Semiconductors) dominated the groupings with 42.5 percent share to total exports. It went up by 1.8 percent to $1.350 billion from $1.326 billion during the same period a year earlier.

Articles of apparel and clothing accessories remained as the countrys second top earner with a combined share of 6.4 percent and an aggregate receipt of $203.75 million or 18.6 percent lower than $250.34 million a year ago.

Coconut oil, ranked third with total revenue of $63.77 million reflecting a 51.3 percent positive growth from $42.14 million during the same period of 2002.

Other products manufactured from materials imported on consignments basis ranked fourth with sales amounting to $56.59 million or a year-on-year growth of 43.3 percent from $39.49 million.

Revenue from ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles) rose by 21.7 percent to $47.40 million from $38.94 million.

Rounding-up the list of the top exports for the month of December 2003 were:petroleum products, $42.89 million; woodcrafts and furniture, $30.77 million; cathodes and sections of cathodes, of refined copper, $30.38million; bananas (fresh), $27.96 million; and metal components, $27.87 million.

Total receipts for the top ten exports reached $2.592 billion, or 81.6 percent of the total exports.

Fig. 1. Philippine Top Exports: December: 2002 and 2003
(F.O.B. Value in Million US Dollars)

 Manufactured goods register 6.8 percent increase

Accounting for 87.4 percent of the total receipts, exports of manufactured goods accelerated by 6.8 percent as sales amounted to $2.776 billion, from $2.598 billion during the same month last year.

Income from all agro-based products, combined for $170.70 million or 5.4 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group went up by 18.8 percent from $143.71 million.

Special transactions were up by 53.7 percent to $130.73 million from $85.06 million, while receipt from exports of mineral products moved up by 18.8 percent to $53.21 million from $44.81 million.

Petroleum products contributed $43.30 million, while forest productsregistered earnings of $1.82 million dollars.

Fig. 2. Philippine Exports by Commodity Group: December: 2002 and 2003
(F.O.B. Value in Million US Dollars)
 
 

Exports to U.S. account for 18.9 percent

Accounting for 18.9 percent of the countrys aggregate income for the month, exports to the United States valued at $600.49 million, declined by 12.5 percent from last year's reported figure of $686.11 million.

Japan followed with a 17.2 percent share. Valued at $545.18 million, exports to Japan went up by 18.0 percent from $462.07 million.

Hong Kong, emerged as the third biggest market for the month as shipments of local goods amounted to $286.08 million or 9.0 percent of the total. Compared to the same period last year, receipts grew by 19.9 percent from $238.53 million.

Singapore accounted for 7.6 percent of the total receipts, with $241.99 million reflecting a 21.0 percent increase from $200.01 million during the same period a year earlier. Other top markets for December 2003 were: Peoples Republic of China, $220.76 million; Netherlands, $213.68 million; Taiwan,$200.45 million; Malaysia, $174.80 million; Republic of Korea, $129.16 million; and Germany, $118.46 million.

Total export receipts from RPs top ten markets for the month of December amounted to $2.731 billion or 86.0 percent of the total.

Fig. 3. Philippine Top Exports by Country: December 2003
(F.O.B. Value in Million US Dollars)

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