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Release Date :
Reference Number :
2009-025

MERCHANDISE EXPORT PERFORMANCE *
February 2009

( Preliminary )

* Includes transactions that passed through Automated Export Documentation System (AEDS).

p - preliminary
r - revised

FEBRUARY 2009 MERCHANDISE EXPORTS FELL BY 39.1 PERCENT

Export earnings in February 2009 dropped by 39.1 percent to $2.504 billion from $4.112 billion in February 2008. Compared with the previous month's level, it decreased slightly by 0.3 percent from $2.511 billion. Similarly, receipts from merchandise exports from January to February 2009 declined by 39.9 percent to 5.015 billion from 8.343 billion reported a year earlier during the two-month period.

 

ELECTRONIC PRODUCTS DOWN BY 45.0 PERCENT

Accounting for 54.0 percent of the aggregate export revenue in February 2009, Electronic Products amounted to $1.352 billion. It went down by 45.0 percent from $2.457 billion in February 2008. However, month-on-month, it inched up by 0.5 percent from $1.345 billion recorded in January 2009. Among the major groups of electronic products, Components/Devices (Semiconductors) having the biggest share of 37.8 percent decreased by 45.4 percent to $946.02 million from $1.733 billion in the same period a year ago.

Articles of Apparel and Clothing Accessories continued to be the RP's second top earner in February 2009 with a share of 5.8 percent and an aggregate receipt of $146.14 million. A negative growth of 17.6 percent was recorded over last year's figure of $177.32 million.

Woodcrafts and Furniture followed as the third top earner in February 2009 with total revenue of $77.50 million or a share of 3.1 percent to the total export receipts. It fell by 14.9 percent from $91.08 million in February 2008.

Ranked fourth in February 2009 and contributing 2.2 percent to the total export receipts was Cathodes and Sections of Cathodes, of Refined Copper with sales amounting to $54.32 million. This value decelerated by 36.4 percent from $85.43 million recorded a year earlier.

Other Products Manufactured from Materials Imported on Consignment Basis with 1.8 percent share to the total export receipts, ranked fifth with revenue amounting to $45.16 million. It was lower by 40.7 percent from $76.12 million recorded in February 2008.

Rounding up the list of the top ten exports for the month of February 2009 was Gold (extracted from copper ores and concentrates) with receipts of $34.65 million which fell by 6.9 percent; Tuna (includes fresh, frozen, prepared or preserved in airtight containers) valued at $31.27 million, rose by 57.01 percent and it was the only commodity among the top ten exports having a positive annual growth rate; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisted only of electrical wiring harness for motor vehicles) with receipts of $30.19 million or year-on-year negative growth of 66.4 percent; Metal Components (excluding brakes and servo ' brakes) with proceeds billed at $29.98 million or a decrease of 36.9 percent; and Coconut Oil (including crude and refined) with export revenue of $27.86 million diminished by 57.8 percent from February 2008 level .

Total receipts from the top ten exports reached $1.829 billion, or 73.1 percent of the total exports.

Fig. 1 Philippine Top Five Exports: February 2009 and 2008
(F.O.B. Value in Million US Dollars)

EXPORTS OF MANUFACTURED GOODS STOOD AT $2.158 BILLION

Accounting for 86.2 percent of the total receipts, exports of Manufactured Goods in February 2009 reached $2.158 billion or a negative growth of 38.1 percent from $3.485 billion recorded a year earlier. However, compared with the previous month's level, it gained by 1.9 percent from $2.118 billion.

Income from All Agro-Based Products comprising 5.6 percent of the total exports revenue in February 2009 decreased by 32.1 percent to $139.45 million from $205.41 million in February 2008.

Earnings from Mineral Products with a share of 4.8 percent in February 2009 reached $119.28 million, reflecting a 34.4 percent drop from $181.72 million in February 2008.

Accounting for a 0.2 percent share of the total exports revenue in February 2009 was Petroleum Products with receipts amounting to $4.39 million, which jumped down by 96.5 percent from $123.73 million recorded in February 2008. Similarly, exports revenue of Forest Products with 0.1 percent share of the total, plunged by 39.9 percent to $1.91 million from $3.17 million recorded a year earlier.

Moreover, export receipts from Special Transactions with a share of 3.2 percent went down by 28.3 percent to $80.74 million from $112.64 million in February 2008.

Fig. 2 Philippine Exports by Commodity Group: February 2009 and 2008
(F.O.B. Value in Million US Dollars)

EXPORTS TO UNITED STATES OF AMERICA ACCOUNT FOR 18.6 PERCENT

United States of America (USA) including Alaska and Hawaii, remained to be the top market of the country for February 2009 with export receipts of $466.57 million, which accounts for 18.6 percent of RP's aggregate income for the month. It was lower by 34.9 percent from $717.16 million recorded a year earlier.

Japan (includes Okinawa) followed as the second top market of the country for February 2009 with export earnings of $398.98 million or 15.9 percent share of the total exports, which declined by 38.8 percent from $652.12 million in February 2008.

People's Republic of China emerged as RP's third biggest market for February 2009 with shipments amounting to $262.94 million and representing 10.5 percent of the total exports went down by 35.3 percent from a year ago level of $406.32 million.

Netherlands ranked fourth in February 2009 with $208.89 million or 8.3 percent of the total exports showed a negative growth of 33.4 percent from $313.52 million recorded in February 2008.

Fifth in rank and accounting 8.1 percent share from the total exports was Hongkong with revenue amounting to $202.96 million or a year-on-year decrease of 41.4 percent from $346.52 million.

Other top ten markets for February 2009 were Germany, $162.94 million; Singapore, $108.47 million; Republic of Korea, $97.42 million; Taiwan, $95.72 million; and Malaysia, $83.93 million.

Total export receipts from RP's top ten markets for the month of February 2009 amounted to $2.089 billion or 83.4 percent of the total.

Fig. 3 Philippine Top Exports by Country: February 2009
(F.O.B. Value in Million US Dollars)

Technical Note:

Starting with the January 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings (as amended in 1999). This is in compliance with NSCB Resolution No. 03, Series of 2005 entitled "Approving and Adopting the 2004 Philippine Standard Commodity Classification" by all concerned government agencies and instrumentalities.

 

 

(Sgd.) CARMELITA N. ERICTA
Administrator

 

 

 

Source: Foreign Trade Statistics Section
             Industry and Trade Statistics Department
             National Statistics Office
             Manila, Philippines

 

 

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