Note:  The export figures for January and December 2003 and January 2004 include electronic files using the Automated Export Documentation System (AEDS).
 

Merchandise exports increase by 4.1 percent

Registered export earnings for January 2004 increased by 4.1 percent to $2.844 billion from $2.733 billion during the same month of 2003.

Electronic products up by 1.2 percent

Electronic products, accounting for 67.8 percent of the aggregate export revenue in January, edged up by 1.2 percent to $1.928 billion from $1.904 billion last year.

There was strong expansion in electronic products such as EDP (15.54 percent), office equipment (20.84 percent), consumer electronics (48.92 percent), communication/radar (7.13 percent), medical/industrial instrumentation (142.68 percent), and automotive electronics (64.62 percent). However, component devices (semiconductors) which account for 44.4 percent of total exports, went down by 5.6 percent to $1.262 billion from $1.337 billion during the same period a year earlier. This partly reflects the shift in the filing of export documents through the Automated Export Documentation System (AEDS) wherein some companies maybe reporting only the value added and not the total value of the exports which includes other costs like the value of imported raw materials on consignment basis. There was also a change in the pricing of some companies.

Articles of apparel and clothing accessories remained as the countrys second top earner with a combined share of 5.6 percent and an aggregate receipt of $158.61 million or 11.0 percent lower than $178.3 million a year ago.

Coconut oil, ranked third with total revenue of $40.48 million reflecting a 15.0 percent positive growth from $35.19 million during the same period of 2003.

Other products manufactured from materials imported on consignments basis ranked fourth with sales amounting to $40.07 million or a year-on-year growth of 41.9 percent from $28.23 million.

Revenue from cathodes and sections of cathodes, of refined copper grew by as much as 74.3 percent to $37.07 million from $21.27 million.

Rounding-up the list of the top exports for the month of January 2004 were: petroleum products, $36.05 million; ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles), $32.98 million; woodcrafts and furniture, $25.74 million; bananas (fresh), $24.92 million; and metal components, $20.91 million.

Total receipts for the top ten exports reached $2.345 billion, or 82.4 percent of the total exports.

Fig. 1. Philippine Top Exports: January: 2003 and 2004
(F.O.B. Value in Million US Dollars)

 Manufactured goods inch up by 1.3 percent

Accounting for 87.4 percent of the total receipts, exports of manufactured goods slightly went up by 1.3 percent as sales amounted to $2.486 billion, from $2.454 billion during the same month a year earlier.

Income from all agro-based products, combined for $152.17 million or 5.4 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group accelerated by 29.7 percent from $117.32 million.

Special transactions were up by 53.9 percent to $105.36 million from $68.44 million, while receipt from exports of mineral products rose by 22.6 percent to $62.85 million from $51.29 million.

Petroleum products contributed $36.05 million, while forest products registered earnings of $1.92 million dollars.

Fig. 2. Philippine Exports by Commodity Group: Januayr: 2003 and 2004
(F.O.B. Value in Million US Dollars)

 

Exports to Japan account for 17.6 percent

Accounting for 17.6 percent of the countrys aggregate income for the month, exports to Japan valued at $499.09 million, increased by 17.6 percent from last year's reported figure of $424.54 million.

United States followed with a 17.0 percent share. Valued at $483.06 million, exports to US declined by 15.5 percent from $571.42 million.

Netherlands emerged as the third biggest market for the month as shipments of local goods amounted to $261.08 million or 9.2 percent of the total. Compared to the same period last year, receipts fell by 0.8 percent from $263.08 million.

Hong Kong accounted for 8.2 percent of the total receipts, with $232.11 million reflecting a 2.9 percent increment from $225.59 million during the same period last year. Other top markets for January 2004 were: Taiwan, $213.05 million; Singapore, $202.07 million; Malaysia, $173.05 million; Peoples Republic of China, $159.47 million; Germany, $147.82 million; and Thailand, $82.15 million.

Total export receipts from RPs top ten markets for the month of January amounted to $2.453 billion or 86.2 percent of the total.

Fig. 3. Philippine Top Exports by Country: January 2004
(F.O.B. Value in Million US Dollars)

Source:    Economic Indices and Indicators Division
                Industry and Trade Statistics Department
                National Statistics Office
                Manila, Philippines