Merchandise exports up by 2.9 percent

Export earnings for December 2004 gained by 2.9 percent to $3.268 billion from $3.175 billion during the same period last year. For thirteen consecutive months a positive growth was registered. However, it was the lowest increase since December 2003.

Receipts from merchandise exports for January to December 2004 grew by 9.3 percent to $39.598 billion from $36.231 billion during the same period of the previous year.

Electronic products exports register 8.3 percent increase

Electronic products, accounting for 68.3 percent of the aggregate export revenue in December, continued to exhibit a positive rate at 8.3 percent to $2.232 billion from $2.061 billion last year. Total annual income from Electronic Products for 2004 was $26.644 billion. It recorded an increase of 10.2 percent over the 2003 earnings of $24.168 billion.

Among the major groups of electronic products, components/devices (Semiconductors) got the major share with 51.0 percent to total exports. Semiconductors posted a positive growth at 24.4 percent to $1.667 billion from $1.341 billion during the same month in 2003. The other electronic products group that showed growth were: control and instrumentation at 473.2 percent with a share of 0.05 percent, telecommunication at 177.8 percent with a share of 0.58 percent, medical/industrial instrumentation at 45.2 percent with a share of 0.01 percent, and communication/radar at 26.4 percent with a share of 0.95 percent.

Articles of apparel and clothing accessories remained as the country's second top earner with a combined share of 4.8 percent and an aggregate receipt of $158.60 million or 22.2 percent lower  than $203.77 million a year earlier.

Ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles) ranked third with total revenue of $71.72 million reflecting a 51.3 percent positive rate from $47.40 million during the same period of 2003.

Othet products manufactured from materials imported on consignment basis ranked fourth with sales amounting to $47.46 million or a year-on-year negative growth of 16.0 percent from $56.53 million.

Revenue from cathodes and sections of cathodes, of refined copper,went up  by 42.1 percent to $43.17 million from $30.38 million.

Rounding up the list of the top exports for the month of Decemberr 2004 were: petroleum products, $39.21 million; woodcrafts and furniture, $36.22 million; coconut oil, $34.50 million;  metal components, $34.12 million, and bananas (fresh), 28.82 million.

Total receipts for the top ten exports reached $2.726 billion, or 83.4 percent of the total exports.

Fig. 1. Philippine Top Exports: December: 2003 and 2004
(F.O.B. Value in Million US Dollars)

 Exports of manufactured goods increase by 6.4 percent

Accounting for 90.4 percent of the total receipts, annual sale for 2004 of manufactured goods was $2.954 billion with a  6.4 percent growth from $2.776 billion during the same period of 2003. Annual sales for 2004 went up by 10.7 percent to $35.443 billion from last year’s receipts of $32.022 billion.

Earnings in December from all agro-based products combined for $141.92 million or 4.3 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group dropped by 16.7 percent from $170.42 million.

Income from   mineral products rose by 34.3 percent to $71.44 million from $53.21 million while receipts from exports of special transactions declined by 55.7 percent to $57.99 million from $130.93 million.

Petroleum products registered earnings of $39.21 million, while forest products contributed $3.00 million dollars.

Fig. 2. Philippine Exports by Commodity Group: December: 2003 and 2004
(F.O.B. Value in Million US Dollars)

 

Exports to Japan account for 19.3 percent

Accounting for 19.3 percent of the country's aggregate income for the month, exports to Japan was valued at $630.80 million. Receipts grew by 18.4 percent from last year's reported figure of $532.64 million.

United States followed with a 15.6 percent share. Earnings at $508.59 million, exports to US fell  by 17.3 percent from $615.26 million.

Netherlands emerged as the third biggest market for the month as shipments of local goods amounted to $352.98 million or 10.8 percent of the total. Receipts advanced by 77.1 percent from $199.31 million compared to the same period of 2003.

People's Republic of China accounted for 8.5 percent of the total receipts, with $279.08 million reflecting a 33.2 percent increment from $209.51 million during the same month a year ago.

Other top markets for December 2004 were: Hong Kong, $258.33 million; Singapore, $216.89 million; Malaysia, $158.16 million; Taiwan, $143.76 million; Republic of Korea, $130.86 million; and Vietnam, $99.22 million.

Total export receipts from RP's top ten markets for the month of December amounted to $2.779 billion or 85.0 percent of the total.

Exports to Japan during the 12-month period registered an uptrend of 38.1 percent at $7.963 billion. Likewise, Japan got the biggest share of exports at 20.1 percent for the year 2004.

Fig. 3. Philippine Top Exports by Country: December 2004
(F.O.B. Value in Million US Dollars)

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