MERCHANDISE EXPORTS PERFORMANCE
FEBRUARY 2016
(Preliminary)
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February
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2016 p |
2015 r |
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TOTAL EXPORTS FOB Value in Million US Dollars Year-on-Year Growth (Percent) Electronic Products FOB Value in Million US Dollars Year-on-Year Growth (Percent) |
4,310.37 -4.5
2,130.62 8.1 |
4,513.40 -0.02
1,970.95 5.8 |
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Top 10 Philippine Exports to All Countries: February 2016 p
(Year-on-Year Growth in Percent)
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Gainers |
Losers |
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Copper and Concentrates
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35.4 |
Articles of Apparel and Clothing Accessories
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-44.9 |
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Woodcrafts and Furniture
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29.6 |
Chemicals
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-38.5 |
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Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
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13.3 |
Other Manufactures
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-15.5 |
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Machinery and Transport Equipment
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10.9 |
Metal Components
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-13.3 |
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Electronic Products
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8.1 |
Coconut Oil
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-5.1 |
EXPORTED GOODS IN FEBRUARY 2016 DECREASE BY 4.5 PERCENT
The Philippines’ export sales amounted to $4.310 billion in February 2016, a 4.5 percent decrease from $4.513 billion recorded value in February 2015. The negative growth was attributed to the decreases in five major commodities out of the top ten export commodities for the month. These include articles of apparel and clothing accessories (-44.9%), chemicals (-38.5%), other manufactures (-15.5%), metal components (-13.3%), and coconut oil (-5.1%) (Table 1).
Furthermore, aggregate merchandise exports for January to February 2016 likewise registered a 4.2 percent decrease from $8.870 billion in 2015 to $8.498 billion in same period of 2016 (Table 1a).
EXPORTS OF ELECTRONIC PRODUCTS INCREASE BY 8.1 PERCENT
Electronic Products remained as the country’s top export with total receipts of $2.131 billion, accounting for 49.4 percent of the total exports revenue in February 2016. It increased by 8.1 percent from $1.971 billion registered in February 2015. Components/Devices (Semiconductors), with the biggest share of 34.7 percent among electronic products, increased by 12.3 percent to $1.496 billion in February 2016 from $1.333 billion in February 2015.
Other Manufactures ranked second, with 6.5 percent share to the total export receipts, posting at $279.07 million. It recorded a decrease of 15.5 percent from February 2015 value of $330.16 million.
Machinery and Transport Equipment was the third top export earner in February 2016 with export revenue of $269.06 million. Moreover, export sales for this commodity group went up by 10.9 percent from $242.67 million in February 2015.
Woodcrafts and Furniture ranked fourth, with a contribution of 6.1 percent share to the total export receipts, recording sales of $262.29 million in February 2016. It registered a 29.6 percent increase from the previous year level of $202.43 million.
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships was recorded as the country’s fifth top export earner with value at $207.69 million or 4.8 percent share to total exports. It went up by 13.3 percent from $183.29 million in same period of 2015.
Rounding up the list of the top ten exports with corresponding export sales for the month of February 2016 were:
- Chemicals with $128.36 million, decelerated by 38.5 percent;
- Metal Components with $93.47 million, dropped by 13.3 percent;
- Articles of Apparel and Clothing Accessories with $82.97 million, decreased by 44.9 percent;
- Coconut Oil with $79.66 million, down by 5.1 percent; and
- Copper Concentrates with $65.47 million, increased by 35.4 percent.
Total receipts from the top ten exports reached $3.599 billion, or 83.5 percent of the total exports which increased by 2.0 percent in 2016.
EXPORTS OF MANUFACTURED GOODS REDUCE BY 2.0 PERCENT
Outward shipments of Manufactured Goods were valued at $3.740 billion, accounting for 86.8 percent of the total export receipts in February 2016. It went down by 2.0 percent from $3.816 billion recorded in February 2015 (Table 2).
Exports from Total Agro-Based Products, with a 7.1 percent share to total exports in February 2016, amounted to $307.87 million. It dropped by 5.8 percent from $326.76 million in February 2015.
Mineral Products with a 4.0 percent share to total exports, decreased by 32.5 percent from $255.65 million in February 2015 to $172.59 million in February 2016.
Merchandise exports from Special Transactions, sharing 1.9 percent of the total exports revenue, fell by 13.9 percent from $95.34 million in February 2015 to $82.13 million in February 2016.
Petroleum Products, with 0.1 percent share, declined by 60.5 percent from $15.41 million in February 2015 to $6.09 million in the same month in 2016.
Moreover, sales from Forest Products, accounting for 0.05 percent share of the total exports, decreased by 52.4 percent from $4.35 million in February 2015 to $2.07 million reported value in same period of 2016.
JAPAN ACCOUNTS FOR 21.8 PERCENT TO TOTAL EXPORTS IN FEBRUARY 2016
Total export receipts from the country’s top ten market destinations for the month of February 2016 was valued at $3.606 billion, accounting for 83.7 percent share of the total export receipts (Table 3). See Figure 4.
Japan including Okinawa remained as the country’s top export destination with revenue amounting to $939.61 million, comprising 21.8 percent share to total exports for February 2016. It decreased by 0.3 percent from $942.32 million recorded in the same month a year ago.
United States of America (USA) including Alaska and Hawaii ranked second, accounting 17.2 percent to total exports, with export receipts valued at $743.04 million in February 2016. It recorded an increase of 1.6 percent from $731.09 million in same month last year.
Hong Kong ranked third with $421.06 million or 9.8 percent share of the total exports. It dropped by 0.3 percent from $422.51 million in the same month year ago.
People’s Republic of China with 9.1 percent share to total exports, ranked fourth with shipments valued at $392.92 million. It went down by 11.6 percent from $444.68 million in same month a year ago.
Singapore placed fifth, representing a 6.7 percent share to total exports, with export earnings worth $289.01 million. It rose by 8.0 percent from $267.49 million posted in February 2015.
Other top ten market destinations for February 2016 were: Germany, $187.29 million; Republic of Korea, $186.41 million; Thailand, $161.56 million; Netherlands, $145.47 million; and Taiwan, $139.74 million.
ABOUT 48 PERCENT OF EXPORTS ARE FOR COUNTRIES IN EAST ASIA
Majority of the country’s merchandise exports in February 2016 went to countries in East Asia, accounting for 48.4 percent share to total exports valued at $2.084 billion. It decreased by 3.9 percent from $2.170 billion of February 2015.
Commodities exported to ASEAN member countries comprised 15.5 percent of the total exports in February 2016 and was valued at $667.25 million. This registered a decrease of 7.8 percent from $723.89 million posted in same month a year ago.
Exports to European Union member countries, with 12.8 percent share to total merchandise exports amounted to $550.28 million. It went up by 5.2 percent from $523.26 million recorded in February 2015 (Table 3a).
Technical Notes
Export trade statistics are compiled by the Philippine Statistics Authority (PSA) from copies of export declarations filed with the Bureau of Customs (BOC) by exporters or their authorized representatives as required by law. PSA collects a copy of the accomplished form Export Declaration (ED – DTI form). Aside from the hard copy of the ED, the output of the Automated Export Documentation System (AEDS) is being utilized to generate export statistics. AEDS is a paperless transaction in lieu of the manual filling-up of export documents. The digitized copy of the AEDS is provided by BOC and PEZA to PSA on a monthly basis through email.
All documents (hard copies and e-files) received before the cut-off date which is every 25th day of the month are compiled, processed and generated in a monthly statistical tables for the preparation of Press Release. All documents received after the cut-off date, however, are processed and included in the generation of the revised statistical tables. Processing includes coding, editing, review and validation. Revised statistical tables are made available 10 to 15 working days after the press release date.
The Press Release is due every 10th day of each month. However, if the 10th day falls on a Saturday, release will be on Friday but if it falls on a Sunday or Monday the release will be on Tuesday. If the release date falls on holiday, the date of release is moved accordingly.
The 2004 Philippine Standard Commodity Classification (PSCC) is used to classify the imported commodities at the most detailed level for statistical purposes.
Data request of international merchandise trade statistics are available at Philippine Statistics Authority, Economic Sector Statistics Service, Trade Statistics Division (Telephone Number: 376-19-75).
FOR THE NATIONAL STATISTICIAN:
