JANUARY EXPORTS POST 24.8 PERCENT GROWTH

Revenue from merchandise exports for January 1998 increased by 24.8 percent to $2.112 billion from $1.692 billion a year ago. Compared to $2.230 billion the previous month, however, export receipts went down by 5.3 percent.

RECEIPTS FROM ELECTRONICS AND COMPONENTS REACH $1,067.01 MILLION

Accounting by 50.5 percent of the total, exports of Electronics and Components amounted to $1,067.01 million which increased by 45.6 percent from $732.80 million last year. This group maintained its hold of the top spot with a 1.6 percent increase from $1,049.83 million last December. Among the commodities that comprise this group, semi-conductors garnered the biggest earnings amounting to $688.21 million which was 65.6 percent more than $415.70 million last year.

Input/Output/Peripheral Units emerged as second top earner with receipts amounting to $163.78 million, up by 62.6 percent from $100.73 million the previous year. Month-on-month, a 24.0 percent increase was also posted. This group represented 7.8 percent of the total.

Articles of Apparel and Clothing Accessories was in third spot as receipts amounted to $145.92 million, a 0.9 percent increase from $144.67 million the previous year. Despite the 31.1 percent drop from $211.66 million last December, it accounted for 6.9 percent of total exports.

Coconut Oil brought in $85.38 million, up by 40.9 percent from $60.61 million in 1997. This commodity group represented 4.0 percent of total exports.

Exports of Woodcraft and Furniture amounted to $31.69 million from $33.23 million in 1997 and accounted for 1.5 percent of the total.

Other top exports for January 1998 were: Ignition Wiring Set & Other Wiring Sets Used in Vehicles, Aircrafts and Ships, $29.68 million; Gold, $26.37 million; Other Products Manufactured from Materials Imported on Consignment Basis, $20.37 million; Metal Components, $20.05 million; and Bananas (Fresh), $15.64 million.

Aggregate dollar earnings from shipments of the top ten exports amounted to $1,605.89 million or 76.0 percent of total exports.

RECEIPTS FROM MANUFACTURED GOODS UP BY 26.4 PERCENT

Value of Manufactured Goods for January, which accounted for 85.8 percent of the total, went up by 26.4 percent to $1,811.53 million from $1,432.83 million but this decreased by 5.1 percent from $1,909.42 million the previous month.

Agro-Based and Other Agro-Based Products led by Coconut Products made up the second biggest commodity group representing 8.6 percent of the aggregate value. Actual receipts grew by 19.7 percent to $180.65 million from $150.89 million last year.

Other major commodity groups were: Mineral Products, $57.82 million; Special Transactions, $46.79 million; Petroleum Products, $12.62 million; and Forest Products, $3.09 million.

US REMAINS AS TOP MARKET

Merchandise exports to the United States, accounting for 34.2 percent of the aggregate earnings for January, posted a 24.1 percent increase as receipts amounted to $721.76 million or $140.08 million higher than $581.68 million last year.

Japan, the second biggest market, trailed the US with $365.80 million worth of goods, up by 29.4 percent from $282.76 million in 1997. Value of exports to this country accounted for 17.3 percent of the total.

The Netherlands was in third spot with purchases amounting to $180.83 million, which was a 34.9 percent increase from the 1997 level of $134.09 million.

Singapore, fourth biggest for the month, reported payments amounting to $138.43 million, up by 31.0 percent from $105.65 million a year ago.

Taiwan, the fifth biggest market, bought goods worth $125.01 million which was about 5.9 percent of the total.

Completing the list of the top markets for January 1998 were: United Kingdom of Great Britain, $104.99 million; Germany, $85.41 million; Hongkong, $83.95 million; Malaysia, $57.78 million; and Thailand, $42.14 million.

Earnings from these top ten export markets amounted to $1,906.10 million or 90.2 percent of the total earnings for January 1998.