EXPORTS INCREASE BY 18.8 PERCENT
Led by gains from Electronics and Components and Input/Output/Peripheral Units, aggregate earnings for January 1997 grew by 18.8 percent to $1.688 billion from $1.420 billion last year. Compared to the previous month, receipts decreased by 10.4 percent from $1.883 billion.
RECEIPTS FROM ELECTRONICS REACH $732.86 MILLION
Representing 43.4 percent of the total earning for the month, receipts from Electronics and Components combined for $732.86 million, up by 30.9 percent from $559.71 million a year ago. Almost one-third of the shipments were bound for the United States.
Articles of Apparel and Clothing Accessories reported a total income of $144.29 million and was the second top earner despite a 27.0 percent decline from $197.54 million in January 1996. This group accounted for 8.5 percent of the aggregate revenue.
Input/Output/Peripheral Units, with sales valued at $100.73 million or 6.0 percent of the total, registered a 453.2 percent increase from $18.21 million the previous year.
Coconut Oil retained its hold of the fourth spot the previous month as it reported earnings placed at $60.61 million, an increase of 32.6 percent from the year-ago value of $45.70 million.
Income from Woodcraft and Furniture improved by 19.0 percent to $33.22 million from $27.91 million the previous year but decreased by 16.0 percent from $39.56 million in December 1996.
Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships was sixth top earner reporting sales valued at $33.19 million, up by 38.9 percent from $23.90 million in 1996.
Other top exports for January 1997 were: Petroleum Products, $26.17 million; Other Products Manufactured from Materials Imported on Consignment Basis, $22.72 million; Gold, $21.64 million; and, Metal Components, $20.91 million.
Income earned from the top ten exports amounted to $1,196.34 million or 70.9 percent of the total.
MANUFACTURED GOODS POST 21.4 PERCENT GAIN
Accounting for 84.9 percent of the total, earnings from exports of Manufactured Goods, notably electronics and garments, reached $1,433.39 million, up by 21.4 percent from $1,180.30 million a year ago.
Agro-based Products, led by Coconut Products, earned $117.28 million, or 25.2 percent higher than $93.71 million in January 1996.
Mineral Products earned $48.32 million, down by 21.4 percent from $61.44 million the previous year, while Other Agro-based Products had receipts of $33.56 million.
US SHARE PLACED AT 34.5 PERCENT
The United States was the biggest market for the month as it accounted for 34.5 percent of the total export revenue. Purchases by the US amounting to $581.54 million registered a 38.3 percent increase over $420.64 million a year ago.
Japan was second with a market share of 16.5 percent and aggregate purchases amounting to $278.93 million, up by 56.0 percent from $178.80 million last year.
Netherlands, the third biggest market, reported payments amounting to $134.09 million or 8.0 percent of the total.
Singapore at number four registered a 57.4 percent increase in purchases which amounted to $105.81 million up from $67.21 million last year.