Merchandise Export Performance : February 2016

Reference Number: 

2016-045

Release Date: 

Tuesday, April 12, 2016

MERCHANDISE EXPORTS PERFORMANCE

 

FEBRUARY 2016

(Preliminary)

 

 

February

 

2016 p

2015 r

 

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

 

 
Top 10  Philippine Exports to All Countries: February 2016 p
(Year-on-Year Growth in Percent)

Gainers

Losers

Copper and Concentrates
35.4
Articles of Apparel and Clothing Accessories
-44.9
Woodcrafts and Furniture
29.6
Chemicals
-38.5
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships
13.3
Other Manufactures
-15.5
Machinery and Transport Equipment
10.9
Metal Components
-13.3
Electronic Products
8.1
Coconut Oil
-5.1
                   p-preliminary, r-revised
 
 
 
 

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:

 

                          (Sgd.)  ROMEO S. RECIDE
               (Deputy National Statistician, SSO)
                                                                                                                          Officer-in-Charge
 
 
 
 

 

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