MERCHANDISE EXPORT PERFORMANCE *
February 2011
( Preliminary )
* Includes transactions that passed through Automated Export Documentation System (AEDS).
p - preliminary
r - revised
MERCHANDISE EXPORTS FOR FEBRUARY 2011 UP BY 8.2 PERCENT
Export earnings in February 2011 amounted to $3.864 billion, an 8.2 percent increment from $3.570 billion recorded in February of 2010. However, on a monthly basis, it declined by 3.4 percent from $4.000 billion posted in January 2011. Aggregate merchandise exports for the first two months of 2011, on the other hand, showed an increase of 10.0 percent to $7.865 billion from $7.150 billion posted during the same two-month period in 2010.
ELECTRONIC PRODUCTS DOWN BY 2.7 PERCENT
Accounting for 52.2 percent of the total exports revenue in February 2011, Electronic Products emerged as the country’s top export with total receipts of $2.015 billion. It lowered by 2.7 percent from $2.071 billion registered in February 2010. Similarly, month-on-month, Electronic Products, declined by 5.9 percent from $2.142 billion posted in January 2011. Components/Devices (Semiconductors) which comprised 37.5 percent of the total exports shared the biggest among the major groups of electronic products with export earnings worth $1.451 billion or an decrease of 3.8 percent from $1.508 billion registered in February 2011.
Articles of Apparel and Clothing Accessories followed as the second top export earner in February 2011 with total receipts of $153.42 million or a share of 4.0 percent to the total exports revenue. It rose by 21.2 percent compared to February 2010 level of $126.57 million.
Woodcrafts and Furniture, recorded as the country’s third top gainer with revenue valued at $138.04 million (3.6%). It increased by 73.8 percent from $79.4 million recorded during the same month in 2010.
Ranked fourth in February 2011 and contributing 3.2 percent share to the total export receipts was Coconut Oil including crude and refined with earnings amounting to $123.47 million. This figure expanded by 126.1 percent from its year ago level of $54.61 million, the highest annual growth among the top ten exports.
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships consisting only of electrical wiring harness for motor vehicles with 2.7 percent share to the total export receipts ranked fifth with value posted at $103.98 million or an equivalent 13.3 percent increment from $91.76 million posted in February 2010.
Rounding up the list of the top ten exports for the month of February 2011 were Metal Components with export revenue of $76.35 million grew by 25.9 percent; Cathodes and Section of Cathodes, of Refined Copper with export earnings of $62.00 million expanded by 51.8 percent; Other Products Manufactured from Materials Imported on Consignment Basis with export receipts of $43.29 million decelerated by 6.0 percent; Petroleum Products (including refined petroleum products, manufactured from crude petroleum oil imported on consignment basis) with recorded sales amounting to $33.36 million improved by 21.6 percent; and Bananas (Fresh) with proceeds billed at $28.30 million was lower by 6.2 percent.
Total receipts from the top ten exports reached $2.778 billion, or 71.9 percent of the total exports.
EXPORTS OF MANU
Accounting for 85.6 percent of the total export receipts in February 2011, outward shipments of Manufactured Goods was estimated at $3.307 billion, representing an increase of 5.7 percent from $3.129 billion recorded in February 2010. Month-on-month, however, it went down by 2.1 percent from $3.380 billion recorded in January 2011.
Income from Total Agro-Based Products comprising 7.1 percent share of the total exports revenue in February 2011 rose by 47.8 percent to $274.23 million from $185.59 million in February 2010. Compared to its previous month level, it slowed down to 17.4 percent from $332.13 million in January 2011.
Earnings from Mineral Products with a share of 3.4 percent in February 2011 reached $130.82 million. It swelled by 23.1 percent from $106.27 million in February 2010. However, export receipts from Special Transactions reflecting 3.0 percent share was lower by 2.5 percent from $119.87 million posted in February 2010 to $116.83 million in February 2011.
Petroleum Products accounting for 0.9 percent share of the total exports revenue grew by 21.6 percent to $33.36 million from $27.42 million in February 2010. However, Forest Products with less than 0.1 percent share was lower by 25.1 percent from $2.25 million in February 2010 to $1.68 million in February 2011.
EXPORTS TO JAPAN ACCOUNTS FOR 17.2 PERCENT
Japan including Okinawa comprising 17.2 percent share to total exports for February 2011 emerged as the country’s top destination of exports with revenue amounting to $665.70 million. It was higher by 6.2 percent from $626.80 million recorded a year ago.
United States of America (USA) including Alaska and Hawaii with 16.0 percent share to total exports followed as the second top market of the country for February 2011 with export earnings worth $616.89 million. This represents an increase of 2.2 percent from $603.36 million reported a year earlier.
People’s Republic of China accounting for 11.2 percent share to total exports came in third with shipments amounting to $433.80 million. Compared to its February 2010 level, this value expanded by 46.5 percent from $296.04 million.
Singapore ranked fourth in February 2011 with $375.71 million or 9.7 percent share of the total exports, increased by 17.1 percent from it’s year ago amount of $320.91 million.
Fifth in rank and representing 7.3 percent share to total exports was Hong Kong with export earnings worth $282.06 million or an increase of 8.2 percent from $260.60 million posted in February 2010.
Other top ten markets for February 2011 were Thailand, $188.46 million; Taiwan, $157.25 million; Republic of Korea, $149.94 million; Germany, $149.83 million; and Netherlands, $144.58 million.
Total export receipts from the country’s top ten markets for the month of February 2011 amounted to $3.164 billion or 81.9 percent of the total.
EXPORTS TO EASTERN
The Philippines’ merchandise exports to Eastern Asia in February 2011 contributed 43.8 percent share to total exports, amounting to $1.692 billion or an increase of 15.8 percent from its February 2010 figure of $1.461 billion.
Exports to ASEAN member-countries accounting for 20.0 percent share to total merchandise exports in February 2011 reached $769.70 million, a 20.5 percent annual growth from $638.58 million recorded in February 2010.
Merchandise exports to European Union (EU), on the other hand, sharing 13.7 percent to total merchandise exports in February 2011 was valued at $530.22 million. It contracted by 20.2 percent from $664.35 million posted in February 2010.
Notes:
1/ - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan
2/ - includes Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Vietnam
3/ - includes Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Latvia, and UK Great Britain & N. Ireland
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
