Merchandise Export Performance : February 2002

Reference Number: 


Release Date: 

Thursday, April 4, 2002



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.


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 )


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 )


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