Merchandise Export Performance : January 2006  ( Preliminary )*

* Includes transactions that passed through Automated Export Documentation System (AEDS) of the Subic Bay Metropolitan Authority (SBMA). 
p - preliminary 
r - revised

Merchandise exports register 0.7 percent decrease   

Export earnings for January 2006 fell by 0.7 percent to $3.261 billion from $3.285 billion during the same period of the previous year.

Electronic products down by 2.2 percent    

Electronic products, accounting for 65.3 percent of the aggregate export revenue in January exhibit a negative rate at 2.2 percent to $2.130 billion from $2.178 billion last year. 

Among the major groups of electronic products, components/devices (Semiconductors) got the major share with 48.7 percent to total exports. Semiconductors slightly posted a positive growth at 0.02 percent to $1.5891 billion from $1.5888 billion during the same month in 2005.The other electronic products group that should growth were: office equipment at 14.7 percent with a share of 0.57 percent, medical/industrial instrumentation at 29.3 percent with a share of 0.01 percent, and automotive electronics at 30.7 percent with a share of 1.2 percent to total exports.

Articles of apparel and clothing accessories remained as the country’s second top earner with a combined share of 6.5 percent and an aggregate receipt of $211.90 million or 0.6 percent lower than $213.21 million a year earlier.

Petroleum products, ranked third with total revenue of $80.41 million reflecting a 304.8 percent positive rate from $19.86 million during the same period of 2005. This can be attributed to the higher demand in petroleum naphtha, gas and fuel oils.

Ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles), ranked fourth with sales amounting to $58.51 million or a year-on-year negative growth of 11.3 percent from $65.97 million.

Revenue from cathodes and sections of cathodes, of refined copper, grew by 24.0 percent to $38.36 million from $30.93 million.  

Rounding up the list of the top exports for the month of January 2006 were coconut oil, $38.11 million with a year-on-year gain of 5.1 percent from $36.25 million,  resulting from higher demand in coconut (copra) oil, refined and its fractions; Other products manufactured from materials imported on consignment basis, $36.96 million; bananas (fresh), $30.45 million; woodcrafts and furniture, $26.64 million and metal components, $22.54 million.

Total receipts for the top ten exports reached $2.674 billion, or 82.0 percent of the total exports.

Fig. 1  Philippine Top Exports: January 2006 and 2005
(F.O.B. Value in Million US Dollars)

Manufactured goods decrease by 4.4 percent

Accounting for 88.4 percent of the total receipts, exports of manufactured goods declined by 4.4 percent as sales amounted to $2.883 billion, from $3.016 billion during the same period in 2005.

Earnings from all agro-based products combined for $143.19 million or 4.4 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group moved up by 18.5 percent from $120.86 million. 

Income from mineral products gained by 29.8 percent to $82.69 million from $63.70 million while receipts from exports of petroleum products accelerated by 304.8 percent to $80.41 million from $19.86 million.

Special transactions registered earnings at $70.84 million, while forest products contributed $973 thousand.

Fig. 2  Philippine Exports by Commodity Group: January 2006 and 2005
(F.O.B. Value in Million US Dollars)

Exports to United States account for 19.3 percent

Accounting for 19.3 percent of the country's aggregate income for the month, exports to USwas valued at $629.67 million. Receipts went up by 0.4 percent from last year's reported figure of $627.23 million. 

Japan followed with a 16.1 percent share. Earnings at $523.91 million, exports to Japan dropped by 23.7 percent from $686.32 million. 

Netherlands emerged as the third biggest market for the month as shipments of local goods amounted to $383.55 million or 11.8 percent of the total. Receipts improved by 22.4 percent from $313.27 million during to the same period of 2005.

People's Republic of China accounted for 8.0 percent of the total receipts, with $262.44 million reflecting a 6.2 percent decline from $279.63 million during the same month a year earlier.

Other top markets for January 2006 were Singapore, with exports worth $241.80 million; Hong Kong, $214.31 million;  Malaysia, $189.20 million; Germany, $141.98 million; Taiwan, $130.30 million; andRepublic of Korea, $111.76 million.

Total export receipts from RP's top ten markets for the month of January amounted to $2.829 billion or 86.7 percent of the total.

Fig. 3  Philippine Top Exports by Country: January 2006
(F.O.B. Value in Million US Dollars)

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