SUMMARY REPORT OF THE MERCHANDISE EXPORT PERFORMANCE FOR JANUARY 2002
(Preliminary)

MERCHANDISE EXPORTS REGISTER 9.0 PERCENT DECREASE

Aggregate receipt for January 2002 from the country's merchandise exports declined by 9.0 percent to $2.630 billion from $2.889 billion during the same period in 2001.

ELECTRONIC COMPONENTS DECLINE BY 14.5 PERCENT

Receipts from Electronic Components, accounting for 54.6 percent of the aggregate export revenue for the month, declined by 14.5 percent to $1.437 billion from $1.681 billion last year.

Articles of Apparel and Clothing Accessories remained as the country�s second top earner with a combined share of 6.3 percent and an aggregate receipt of $165.95 million or 21.4 percent lower than $211.06 million a year ago.

Ignition Wiring Set Used in Vehicles, Aircrafts, and Ships ranked third with a total revenue of $53.57 million reflecting a 40.7 percent increase from $38.08 million last year.

Metal Components ranked fourth with sales amounting to $28.61 million or a year-on-year decline of 21.7 percent from $36.51 million.

Revenue from Woodcrafts and Furniture fell by 44.3 percent to $25.84 million from $46.42 million during the same month of 2001.

Rounding-up the list of the top exports for the month of January 2002 were: Bananas (Fresh), $25.38 million; Coconut Oil, $25.35 million; Other Products Manufactured from Materials Imported on Consignments Basis, $24.28 million; Cathodes & Sections of Cathodes, Of Refined Copper, $18.40 million; Pineapple and Pineapple Products, $10.62 million

Aggregate receipts for the top ten exports amounted to $1.815 billion, or 69.0 percent of the total exports.

Fig. 1. Philippine Top Exports in January : 2001 & 2002
( F.O.B. Value in Million US Dollar )

MANUFACTURED GOODS DECLINED BY 11.4 PERCENT

Accounting for 89.1 percent of the total receipts, exports of Manufactured Goods decreased by 11.4 percent as sales reached $2.342 billion, down from $2.643 billion during the same period last year.

Income from Special Transactions, combined for $124.67 million or 4.7 percent of the total export revenue. Compared to last year, aggregate revenue for this commodity group increased by 61.2 percent from $77.35 million.

Agro-Based Products increased by 1.7 percent to $116.36 million from $114.41 million, while receipt from exports of Mineral Products went up by 8.6 percent to $35.96 million.

Petroleum Products contributed $8.51 million, while Forest Products registered $2.40 million dollars.

Fig. 2. Philippine Exports by Commodity Group in January: 2001 & 2002
( F.O.B. Value in Million US Dollar )

EXPORTS TO US ACCOUNT FOR 24.7 PERCENT

Accounting for 24.7 percent of the country�s aggregate receipts for the month, exports to the United States valued at $649.84 million, decreased by 21.2 percent from last year's reported figure of $824.50 million.

Japan followed with a 15.0 percent share. Valued at $394.41 million, exports to Japan went down by 21.7 percent from $503.65 million.

Netherlands accounted for 9.9 percent of the total receipt and contributed $259.46 million reflecting a 7.6 percent increase from $241.05 million a year earlier.

Taiwan emerged as the fourth biggest market for the month as shipments of local goods amounted to $202.24 million or 7.7 percent of the total. Compared to the same month's last year figure, receipts went up by 45.9 percent from $138.61 million. Other top markets for January 2002 were: Singapore, $188.80 million; Hongkong, $136.53 million; Malaysia, $117.18 million; Peoples Republic of China, $103.36 million;, Thailand, $102.91 million; and Republic of Korea, $97.04 million.

Total export receipts from RP�s top ten markets amounted to $2.252 billion or 85.6 percent of the total.

Fig. 3. Philippine Top Exports by Country in January, 2002
( F.O.B. Value in Million US Dollar )

Source: National Statistics Office
              Manila, Philippines