Merchandise Export Performance : February 2002

Reference Number: 

2002-036

Release Date: 

Thursday, April 4, 2002

 

MERCHANDISE EXPORTS REGISTER 6.4 PERCENT DECREASE

Reported earnings for February 2002 went down by 6.4 percent to $2.625 billion from $2.805 billion during the same month a year ago.

Receipts from merchandise exports for January to February 2002 declined by 7.7 percent to $5.257 billion from $5.694 billion during the same period in 2001.

ELECTRONIC COMPONENTS DECLINE BY 12.5 PERCENT

Receipts from Electronic Components, accounting for 53.0 percent of the aggregate export revenue for the month, decreased by 12.5 percent to $1.392 billion from $1.590 billion last year.

Articles of Apparel and Clothing Accessories remained as the country�s second top earner with a combined share of 6.0 percent and an aggregate receipt of $157.86 million or 15.6 percent lower than $186.98 million a year ago.

Petroleum Products, ranked third with a total revenue of $35.85 million reflecting an 8.6 percent increase from $33.01 million last year.

Ignition Wiring Set Used in Vehicles Metal Components ranked fourth with sales amounting to $35.75 million or a year-on-year decline of 15.9 percent from $42.51 million.

Revenue from Metal Components fell by 10.7 percent to $33.35 million from $37.34 million during the same month of 2001.

Rounding-up the list of the top exports for the month of January 2002 were: Other Products Manufactured from Materials Imported on Consignments Basis, $29.99 million; Woodcrafts and Furniture, $27.63 million; Coconut Oil, $25.55 million; Bananas (Fresh), $20.30 million; and Cathodes and Sections of Cathodes, of Refined Copper, $16.84 million.

Aggregate receipt for the top ten exports amounted to $1.775 billion, or 67.6 percent of the total exports.

Fig. 1. Philippine Top Exports in February : 2001 & 2002
( F.O.B. Value in Million US Dollar )

MANUFACTURED GOODS DECLINED BY 7.3 PERCENT

Accounting for 89.1 percent of the total receipts, exports of Manufactured Goods decreased by 7.3 percent as sales reached $2.340 billion, down from $2.523 billion during the same period last year.

Income from Agro-Based Products, combined for $112.97 million or 4.3 percent of the total export revenue. Compared to last year, aggregate revenue for this commodity group dropped by 16.2 percent from $134.87 million.

Special Transactions increased by 51.7 percent to $102.38 million from $67.48 million, while receipt from exports of Petroleum Products went up by 8.6 percent to $35.85 million from $33.02 million.

Mineral Products contributed $32.78 million, while Forest Products registered $1.36 million dollars.

Fig. 2. Philippine Exports by Commodity Group in February: 2001 & 2002
( F.O.B. Value in Million US Dollar )

EXPORTS TO US ACCOUNT FOR 25.0 PERCENT

Accounting for 25.0 percent of the country�s aggregate receipts for the month, exports to the United States valued at $656.09 million, decreased by 13.8 percent from last year's reported figure of $761.27 million.

Japan followed with a 16.4 percent share. Valued at $430.68 million, exports to Japan went down by 11.8 percent from $488.05 million.

Netherlands accounted for 8.6 percent of the total receipt, contributed $224.44 million reflecting an 8.7 percent reduction from $245.73 million a year earlier.

Taiwan emerged as the fourth biggest market for the month as shipments of local goods amounted to $193.98 million or 7.4 percent of the total. Compared to the same month last year figure, receipts went up by 27.2 percent from $152.45 million. Other top markets for February 2002 were: Singapore, $190.05 million; Hongkong, $140.36 million; Republic of Korea, $113.63 million; Malaysia, $109.94 million;, Germany, $92.74 million; and UK of Great Britain and N. Ireland, $78.19 million.

Total export receipts from RP�s top ten markets amounted to $2.230 billion or 85.0 percent of the total.

Fig. 3. Philippine Top Exports by Country in February, 2002
( F.O.B. Value in Million US Dollar )

Source: National Statistics Office
              Manila, Philippines

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