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Release Date :
Reference Number :
2013-033

 

MERCHANDISE EXPORT PERFORMANCE*

February 2013

(Preliminary)

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

p - preliminary

r - revised

 

MERCHANDISE EXPORTS FOR FEBRUARY 2013 DOWN BY 15.6 PERCENT

Export earnings in February 2013 amounted to $3.741 billion, a 15.6 percent decrement from $4.430 billion recorded in February of 2012.  Similarly, on a monthly basis, it decreased by 6.7 percent from $4.011 billion posted in January 2013. The down fall was supported by the negative year-on-year change in machinery and transport equipment, special transactions, electronic products and articles of apparel and clothing accessories. Aggregate merchandise exports for the first two months of 2013, showed a decrease of 9.4 percent from $8.554 billion in 2012 to $7.752 billion in 2013.

 

ELECTRONIC PRODUCTS DECREASED BY 36.5 PERCENT

Accounting for 39.7 percent of the total exports revenue in February 2013, Electronic Products emerged as the country’s top export with total receipts of $1.483 billion. It went down by 36.5 percent from $2.334 billion registered in February 2012.  However, month-on-month, Electronic Products, was up by 1.2 percent from $1.466 billion posted in January 2013. Components/Devices (Semiconductors) which comprised 30.9 percent of the total exports shared the biggest among the major groups of electronic products with export earnings worth $1.155 billion or a decrease of 31.3 percent from $1.681 billion registered in February 2012.  Similarly, volume of outward shipments of electronic products and semiconductors also declined by 19.0 percent and 15.6 percent, respectively compared to same period a year ago.

Other Manufactures followed as the second top export earner in February 2013 with total receipts of $324.11 million or a share of 8.7 percent to the total exports revenue. It rose by 51.9 percent compared to February 2012 level of $213.37 million. Likewise, volume of this product dropped by 13.6 percent compared to the same period last year.

Metal Components recorded as the country’s third top exporter with revenue valued at $290.66 million or a 7.8 percent share to total exports. It increased by 302.6 percent, registering the highest annual increase among the top ten exports from $72.20 million recorded value during the same month in 2012. Outward shipments of this product showed an expansion of 22.8 percent compared to its year ago recorded shipment.

Ranked fourth in February 2013 and contributing 5.9 percent share to the total export receipts was Woodcrafts and Furniture with earnings amounting to $219.22 million. This figure expanded by 32.8 percent from its year ago level of $165.13 million. Furthermore, volume of shipments of this commodity showed a 45.9 percent increase compared to last year same month period.

Articles of Apparel and Clothing Accessories, with 3.9 percent share to the total export receipts, ranked fifth with value posted at $144.70 million. It slightly went down by 1.0 percent from $146.17 million recorded value compared to February 2012. Furthermore, volume of shipments of this commodity showed a 2.2 percent increase compared to last year same month period.

Rounding up the list of the top ten exports for the month of February 2013 were Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships Oil consisting only of electrical wiring harness for motor vehicles with export revenue of $137.89 million up by 25.8 percent; Machinery and Transport Equipment with export earnings of $131.50 million down by 63.6 percent; Chemicals with export receipts of $122.40 million accelerated by 10.4 percent; Special Transactions including replacements and goods returned to the country whence exported with recorded sales amounting to $90.37 million lower by 38.4 percent; and Coconut Oil including crude and refined with proceeds billed at $79.43 million rose by 23.5 percent.

Total receipts from the top ten exports reached $3.024 billion, or 80.8 percent of the total exports.

 

EXPORTS OF MANUFACTURED GOODS STANDS AT $3.173 BILLION

Accounting for 84.8 percent of the total export receipts in February 2013, outward shipments of Manufactured Goods was estimated at $3.173 billion, representing a decrease of 17.5 percent from $3.844 billion recorded in February 2012. Similarly, on a monthly basis, it went down by 3.3 percent from $3.281 billion recorded in January 2013. Outward shipments in terms of gross kilos showed a negative year-on-year change of 46.8 percent compared to shipment in February 2012 and 36.6 percent decrease in volume of shipment compared to last month.

Income from Total Agro-Based Products comprising 9.2 percent share of the total exports revenue in February 2013 went up by 43.7 percent to $343.89 million from $239.38 million.  Compared to its previous month level, it slowed down by 11.6 percent from $388.88 million in January 2013. Likewise, volume of shipments grew by 30.4 percent compared to same month a year ago.

Earnings from Mineral Products with a share of 2.6 percent in February 2013 reached $98.93 million. It deflated by 46.3 percent from $184.20 million in February 2012.  Similarly, export receipts from Special Transactions reflecting 2.4 percent share was lower by 38.4 percent from $146.70 million in February 2012 to $90.37 million in February 2013. On the other hand, recorded volume of outward shipments for mineral products and special transactions registered a positive growth of 46.8 percent and 202.4 percent respectively.

Petroleum Products accounting for 0.8 percent share of the total exports revenue accelerated by 122.7 percent to $28.51 million from $12.80 million reported value a year ago. Similarly, recorded volume of this product grew by 182.4 percent compared to same month in 2012. Likewise, Forest Products with almost 0.2 percent share grew by 84.8 percent to $6.00 million in February 2013 from $3.25 million in February 2012. Also, outward shipments of this product in terms of gross kilos were up by 37.9 percent compared to last year recorded volume.

 

EXPORTS TO JAPAN ACCOUNTS FOR 18.9 PERCENT

Japan including Okinawa comprising 18.9 percent share to total exports for February 2013 emerged as the country’s top destination of exports with revenue amounting to $705.93 million. It was lower by 11.4 percent from $796.63 million recorded a year ago. The export items to Japan consist mainly of wood manufactures, components/devices (semiconductors), bananas (fresh), sugar and other manufactures.

United States of America (USA) including Alaska and Hawaii with 15.9 percent share to total exports followed as the second top market of the country for February 2013 with export earnings worth $594.90 million. This represents a decrease of 13.5 percent from $687.74 million reported a year earlier. Electronic products particularly components/devices (semiconductors), coconut oil, other manufactures and sugar are the goods mostly exported to USA.

People’s Republic of China accounting for 10.2 percent share to total exports came in third with shipments amounting to $380.76 million. Compared to same month a year ago, this value contracted by 35.4 percent from $589.00 million. Products exported to China comprised mostly of electronics, other mineral products and bananas (fresh).

Singapore ranked fourth in February 2013 with $263.14 million or 7.0 percent share of the total exports which decreased by 24.0 percent from it’s year ago amount of $346.35 million. Goods mostly exported to Singapore were components/devices (semiconductors), petroleum products and machinery and transport equipment.

Fifth in rank and representing 6.2 percent share to total exports was Republic of Korea with export earnings worth $231.81 million or an increase of 74.5 percent from $132.83 million posted in February 2012. Other manufactures and sugar were goods mostly exported to Korea.

Other top ten markets for February 2013 were Hong Kong, $226.26 million; South Africa, $169.31 million; Germany, $157.60 million; Thailand, $137.44 million; and Netherlands, $124.30 million.

Total export receipts from the country’s top ten markets for the month of February 2013 amounted to $2.991 billion or 80.0 percent of the total.

 

EXPORTS TO EAST ASIA WORTH $1.660 BILLION

The merchandise exports of the Philippines to East Asia in February 2013 accounted 44.4 percent share to total exports, amounting to $1.660 billion or a decrease of 23.4 percent from its February 2012 figure of $2.166 billion.

Exports to ASEAN member-countries accounting for 15.7 percent share to total merchandise exports in February 2013 reached $588.85 million, a 20.7 percent decline from $742.62 million recorded in February 2012.

Merchandise exports to European Union (EU), on the other hand, sharing 12.3 percent to total merchandise exports in February 2013 was valued at $461.62 million. It contracted by 18.7 percent from $567.90 million posted in February 2012.

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 Alaska and Hawaii

4/ - includes Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece,

      Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia,

      Slovenia, Spain, Sweden and UK Great Britain

 

Technical Note:

Starting with the February 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings. 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.

 

CARMELITA N. ERICTA
Administrator

 

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

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