Merchandise Export Performance : February 2006  ( Preliminary )*

* Includes transactions that passed through Automated Export Documentation System (AEDS)  
p - preliminary 
r - revised

Merchandise exports up by 9.8 percent   

Export earnings for February 2006  grew by 9.8 percent to $3.296 billion from $3.000 billion during the same period a year earlier.

Receipts from merchandise exports during January to February 2006 went up by 4.2 percent to $6.562 billion from $6.294 billion during the same period of the previous year.

Electronic products exports register 10.3 percent increase   

Electronic products, accounting for 65.9 percent of the aggregate export revenue in February, exhibited an increase of 10.3 percent to $2.171 billion from $1.967 billion a year ago. 

Among the major groups of electronic products, components/devices (Semiconductors) got the major share with 51.4 percent to total exports. Semiconductors posted a positive growth at 18.4 percent to $1.695 billion from $1.432 billion during the same month in 2005. The other electronic products group that showed inceases were Office Equipment at 26.0 percent with a share of 0.49 percent. Telecommunication at 155.7 percent with a share of 0.46 percent, and Medical/Industrial Instrumentation at 210.3 percent with a share of 0.02 percent to total exports.

Articles of apparel and clothing accessories remained as the country’s second top earner with a combined share of 5.7 percent and an aggregate receipt of $188.71 million or 9.3 percent higher than $172.69 million a year earlier. This was brought about by the bulk order of men's and women's wear as well brassieres.

Cathodes and sections of cathodes, of refined copper, ranked third with total revenue of $69.98 million reflecting a 117.9 percent increment from $32.11 million during the same period of 2005.  

Ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles), ranked fourth with sales amounting to $60.69 million or a year-on-year decrease of 5.3 percent from $64.12 million. 

Revenue from other products manufactured from materials imported on consignment basis gained 43.7 percent to $58.30 million from $40.58 million.  

Rounding up the list of the top exports for the month of February 2006 were petroleum products, with sales amounting to $45.04 million or a year-on-year growth of 59.7 percent from $28.21 million. This can be attributed to the higher demand in fuels and petroleum naphtha. Woodcrafts and furniture, $28.14 million; bananas (fresh) $28.02 million; metal components, $27.66 million; and coconut oil, $24.37 million.

Total receipts from the top ten exports reached $2.702 billion, or 82.0 percent of the total exports.

Fig. 1  Philippine Top Exports: February 2006 and 2005
(F.O.B. Value in Million US Dollars)

Exports of manufactured goods increase by 9.2 percent

Accounting for 89.5 percent of the total receipts, exports of manufactured goods was $2.950 billion, with a 9.2 percent growth from $2.702 billion during the same period of 2005.

Earnings from all agro-based products combined for $125.46 million or 3.8 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group declined by 11.2 percent from $141.22 million.

Income from mineral products moved up by 72.6 percent to $110.46 million from $64.0 million while receipts from exports of special transactions improved by 5.3 percent to $63.01 million from $59.82 million.

Petroleum products registered earnings of $45.04 million, while forest products contributed $1.72 million.

Fig. 2  Philippine Exports by Commodity Group: February 2006 and 2005
(F.O.B. Value in Million US Dollars)
 
 

Exports to United States account for 18.9 percent

Accounting for 18.9 percent of the country's aggregate income for the month, exports toUnited States was valued at $623.34 million. Receipts rose by 19.9 percent from last year's reported figure of $519.84 million. 

Japan followed with a 16.5 percent share. With earnings at $544.53 million, exports to Japan fell  by 11.4 percent from $614.81 million.

Netherlands emerged as the third biggest market for the month as shipments of local goods amounted to $380.60 million or 11.6 percent of the total. Receipts climbed by 32.2 percent from $287.88 million compared to the same period of 2005.

People's Republic of China accounted for 9.7 percent of the total revenue, with $319.67 million reflecting a 26.6 percent increment from $252.59 million during the same month a year ago.

Other top markets for February 2006 were: Singapore, $284.19 million; Hong Kong, $223.71 million;  Malaysia, $182.83 million; Taiwan, $127.08 million; Thailand, $101.67 million; andGermany, $100.87 million.

Total export receipts from RP's top ten markets for the month of February amounted to $2.888 billion or 87.7 percent of the total.

Fig. 3  Philippine Top Exports by Country: February 2006
(F.O.B. Value in Million US Dollars)

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