MERCHANDISE EXPORT PERFORMANCE *
February 2010
( Preliminary )

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

FEBRUARY 2010 MERCHANDISE EXPORTS UP BY 42.3 PERCENT

Export earnings in February 2010 amounted to $3.567 billion, registering a double-digit growth of 42.3 percent from it's year ago level of $2.506 billion.  However, on a monthly basis, it slightly declined by 0.4 percent from $3.579 billion in January 2010. Aggregate merchandise exports for the first two months of 2010, on the other hand, showed an increase of 42.4 percent from $5.017 billion to $7.146 billion posted during the same two-month period in 2009.

ELECTRONIC PRODUCTS INCREASED  BY 53.3 PERCENT

Accounting for 58.1 percent of the total export revenue in February 2010, Electronic Products was the country's top export with a total earnings  of $2.072 billion. It grew by 53.4 percent from $1.351 billion in February 2009.  Components/Devices (Semiconductors) which comprised 42.3 percent of the total exports and the biggest share among the major groups of electronic products amounted to $1.508 billion or an annual increase of 59.6 percent.   Month-on-month, Electronic Products went up by 1.9 percent from $2.034 billion in January 2010.

Articles of Apparel and Clothing Accessories which comprised  3.6 percent share of total exports in February 2010 emerged as RP's second top gainer with revenue valued at $126.58 million. This commodity group, however, exhibited year-on-year decrease of 13.3 percent from $145.92 million in February 2009.  

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisting only of electrical wiring harness for motor vehicles) followed as the third top earner in February 2010 with total export earnings of $91.85 million or a share of 2.6 percent to the total export receipts.  It expanded by 205.6 percent from $30.05 million in February 2009.

Ranked fourth in February 2010 and contributing 2.2 percent to the total export receipts was Woodcrafts and Furniture with revenue amounting to $79.43 million. This value decreased by 3.3 percent from its year ago level of $82.13 million.

Metal Components (excluding brakes and servo ' brakes) with 1.7 percent share to the total export receipts ranked fifth with value posted at $60.72 million or 102.4 percent increased from  $30.00 million registered in February 2009.

Rounding up the list of the top ten exports for the month of February 2010 were Coconut Oil (including crude and refined) with export earnings of $54.61 million up by 96.0 percent; Other Products Manufactured from Materials Imported on Consignment Basis with export receipts of $46.06 million increased by 2.0 percent; Cathodes and Sections of Cathodes, of Refined Copper with export revenue of $40.85 million contracted by 24.8 percent, the highest year-on-year negative growth among the top ten exports in February 2010; Bananas (Fresh) with proceeds billed at $30.18 million grew by 18.8 percent; and Petroleum Products (including refined petroleum products, manufactured from crude petroleum oil imported on consignment basis) recorded sales amounting to $27.53 million accelerated by 527.0 percent, the highest increase among the top ten exports in February 2010.

Total receipts from the top ten exports reached $2.629 billion, or 73.7 percent of the total exports.

Fig. 1  Philippine Top Five Exports: February 2010 and 2009
(F.O.B. Value in Million US Dollars)

EXPORTS OF MANUFACTURED GOODS STOOD AT $3.132 BILLION

Accounting for 87.8 percent of the total receipts, outward shipments of Manufactured Goods in February 2010 reached $3.132 billion or a 45.0 percent increase from $2.161 billion recorded in the same period a year earlier. However, it rose by 0.5 percent from $3.116 billion recorded in January 2010.  

Income from Total Agro-Based Products comprising 5.2 percent of the total exports revenue in February 2010 went up by 33.2 percent to $185.77 million in February 2010 from  $139.43 million in February 2009.  Month-on-month, it reduced by 11.7 percent from $210.43 million in January 2010.

Earnings from Mineral Products with a share of 3.0 percent in February 2010 reached $106.28 million. It fell by 10.9 percent from $119.28 million in February 2009.  However, export receipts from Special Transactions reflecting 3.2 percent share expanded by 40.0 percent to  $113.07 million from $80.74 million recorded in February 2009.

Exports revenue of Petroleum Products with 0.8 percent share of the total exports accelerated by 527.0 percent to $27.53 million from $4.39 million in February 2009. However, Forest Products with 0.1 percent share of the total exports gained by 17.7 percent to $2.25 million registered in February 2009 from $1.91 million.

Fig. 2  Philippine Exports by Commodity Group: February 2010 and 2009
(F.O.B. Value in Million US Dollars)

EXPORTS TO JAPAN ACCOUNTED FOR 17.6 PERCENT

 Japan including Okinawa comprising 17.6 percent of the total exports for February 2010, emerged as the country's top destination of exports for February 2010 with revenue amounting to $627.04 million. It was higher by 55.4 percent from $403.44 million recorded a year ago.

United States of America (USA) including Alaska and Hawaii followed as the second top market of the country for February 2010 with export earnings of $603.83 million or 16.9 percent share of the total exports. The amount increased by 29.5 percent from $466.36 million reported a year earlier.

Singapore came in third with shipments amounting to $321.62 million and representing 9.0 percent of the total exports. Compared to February 2009 figure, the amount expanded by 196.1 percent from $108.60 million.

People's Republic of China ranked fourth in February 2010 with $296.28 million or 8.3 percent share of the total exports, advanced by 12.7 percent from it's February 2009 level of $262.91 million.

Fifth in rank and accounting for 8.2 percent share of the total exports was Germany with export earnings worth $291.20 million or an annual positive growth of 78.2 percent from $163.39 million posted in February 2009.

Other top ten markets for February 2010 were Hong Kong, $259.62 million; Netherlands, $220.29 million; Republic of Korea, $169.61 million; Thailand, $133.76 million; and  Taiwan, $105.98 million.

Total export receipts from RP's top ten markets for the month of February 2010 amounted to $3.029 billion or 84.9 percent of the total.

Fig. 3  Philippine Top Exports by Country: February 2010
(F.O.B. Value in Million US Dollars)

  EXPORTS FROM EASTERN ASIA WORTH $1.461 BILLION  

Philippines total exports in February 2010 with Eastern Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) accounted for 41.0 percent of the county's total exports. It amounted to $1.461 billion or an increase of 37.6 percent from it's February 2009 level of $1.062 billion.

Exports to European Union (EU) representing 18.6 percent share to the total exports in February 2010 reached to $664.65 million, up by 37.8 percent from $482.32 million recorded in February 2009.

Total exports to ASEAN member-countries with 17.8 percent share in February 2010 expanded by 113.7 percent  to $634.02 million from $296.67 million registered in February 2009.

Fig. 4  Philippine Exports by Selected Economic Bloc: February 2010 & 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