* Includes transactions that passed through Automated Export Documentation System (AEDS) of the Subic Bay Metropolitan Authority (SBMA).
p - preliminary
r - revised

Merchandise exports register 16.8 percent increase   

Export earnings for December 2005  jumped by 16.8 percent to $3.829 billion from $3.277 billion during the same period last year.

Receipts from merchandise exports during the period January to December 2005 went up by 3.9 percent to $41.224 billion from $39.681 billion during the same period of the previous year.

Electronic products up by 15.7 percent    

Electronic products, accounting for 67.6 percent of the aggregate export revenue in December advanced by 15.7 percent to $2.590 billion from $2.238 billion a year ago. Exportations made on digital integrated circuits and finished electrical and electronic machinery and parts mainly contributed to this increase.

Total annual income from electronic products for 2005 was $27.304 billion. It recorded an increase of 2.2 percent over the 2004 earnings.

During the month, among the major groups of electronic products, components/devices (Semiconductors) got the highest share with 52.8 percent to total exports. Semiconductors picked-up by 21.2 percent to $2.023 billion from $1.668 billion during the same month in 2004.

Articles of apparel and clothing accessories remained as the country’s second top earner with a combined share of 5.5 percent and an aggregate receipt of $212.02 million or 33.6 percent higher than $158.68 million a year earlier. This was brought about by the bulk order of women's wear and brassieres. Total annual revenue for this commodity group reached $2.298 billion, with a year-on-year growth of 5.8 percent compared last year.

Coconut oil, ranked third with sales amounting to $93.30 million or a year-on-year gain of 170.4 percent from $34.50 million. This resulted from higher demand in crude coconut (copra) oil. During the twelve-month period, it registered an income of $657.22 million or 13.8 percent growth over the previous year.  

Petroleum products, ranked fourth with total revenue of $81.40 million reflecting a 107.6 percent increase from $39.21 million during the same period of 2004. This can be attributed to the higher demand in fuel oils. Total annual earnings for this group was recorded at $585.748 million. It posted an annual positive rate of 54.0 percent over the previous year proceeds. 

Revenue from Ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles) decreased by 14.4 percent to $61.6 million from $71.94 million.  

Rounding up the list of the top exports for the month of December 2005 were other products manufactured from materials imported on consignment basis, $48.31 million; bananas (fresh), $39.86 million; metal components $32.70 million; woodcrafts and furniture, $29.80 million and pineapple and pineapple products, $22.22 million.

Total receipts for the top ten exports reached $3.211 billion, or 83.9 percent of the total exports.

Fig. 1  Philippine Top Exports: December 2005 and 2004
(F.O.B. Value in Million US Dollars)

Exports of manufactured goods up by 15.0 percent

Accounting for 89.0 percent of the total receipts, exports of manufactured goods was worth $3.410 billion, a 15.0 percent increment from $2.964 billion during the same period a year ago. For the entire year of 2005, revenue reached $36.938 billion or 4.0 percent higher compared to 2004.

Earnings from all agro-based products combined for $214.26 million or 5.6 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group rose by 51.2 percent from $141.67 million, while total yearly income was registered at $2.002 billion.

Income from petroleum products gained by 107.6 percent to $81.40 million from $39.21 million while receipts from exports of special transactions went up by 30.5 percent to $75.22 million from $57.65 million.

Mineral products registered earnings of $44.75 million, while forest products posted $3.98 million.

Fig. 2  Philippine Exports by Commodity Group: December 2005 and 2004
(F.O.B. Value in Million US Dollars)

 

Exports to United States account for 19.7 percent

Accounting for 19.7 percent of the country's aggregate income for the month, exports to US was valued at $755.95 million. Receipts accelerated by 47.6 percent from last year's reported figure of $512.01 million. Exports to United States during the 12-month period registered an uptrend of 4.4 percent at $7.401 billion. Likewise, US got the biggest share of exports at 18.0 percent for the year 2005.

Japan followed with a 16.9 percent share. Earnings at $647.36 million, moved up by 2.4 percent from $632.36 million. Total annual exports of goods to Japan was posted at $7.204 billion with a year-on-year negative growth of 9.8 percent.

Netherlands emerged as the third biggest market for the month as shipments of local goods amounted to $377.45 million or 9.9 percent of the total. Receipts increased by 6.9 percent from $353.10 million during to the same period of 2004.

Exports to People's Republic of China accounting for 9.7 percent of the total bills was worth $371.92 million, a 33.3 percent increment from $279.08 million during the same month of the previous year.

Other top markets for December 2005 were Hong Kong, with exports worth $306.32 million; Singapore, $251.87 million;  Malaysia, $242.73 million; Taiwan, $154.56 million; Germany, $137.29 million; and Thailand, $113.76 million.

Total export receipts from RP's top ten markets for the month of December amounted to $3.359 billion or 87.7 percent of the total.

Fig. 3  Philippine Top Exports by Country: December 2005
(F.O.B. Value in Million US Dollars)

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