* Includes transactions that passed through Automated Export Documentation System (AEDS). 
p - preliminary 
r - revised

JANUARY 2007 MERCHANDISE EXPORTS INCREASE BY 27.3 PERCENT

Export earnings in January 2007 inched up by 27.3 percent to $4.167 billion from $3.272 billion in January 2006. This is due to the increase in the shipments of cathodes and section of cathodes of refined copper and woodcrafts and furniture.

ELECTRONIC PRODUCTS UP BY 14.5 PERCENT

Accounting for 58.5 percent of the aggregate export revenue in January, Electronic Productswent up by 14.5 percent to $2.438 billion from $2.130 billion in January 2006.  Other electronic products that showed increases are Office Equipment at 43.6 percent with a share of 0.7 percent; and Communication/Radar at 108.9 percent with a share of 0.5 percent.  Interestingly,Control and Instrumentation, and Medical/Industrial Instrumentation commodity groups posted the highest year-on-year growth, although their shares to total exports are only 0.1 percent and 0.03 percent, respectively.

Articles of Apparel and Clothing Accessories continued to be the countrys second top earner with a combined share of 4.9 percent and an aggregate receipt of $203.46 million or 3.9 percent lower than $211.80 million in January 2006.

Cathodes and Sections of Cathodes of Refined Copper, ranked third with total revenue of $124.01 million reflecting a 223.26 percent climb from $38.36 million in January 2006.

Woodcrafts and Furniture, ranked fourth with sales amounting to $75.40 million or a growth of 183.6 percent from $26.59 million in January 2006.

Petroleum Products, ranked fifth with export receipts of $67.43 million or a year-on-year decline of 21.6 percent from $85.97 million in January 2006.

Rounding up the list of the top exports for the month of January 2006 were, Other Products Manufactured from Materials Imported on Consignment Basis, $62.05 million or an annual growth of 66.8 percent; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisted only of electrical wiring harness for motor vehicles), $62.03million or a year-on-year growth of 6.0 percent; Metal Components with an export valued at $34.24 million, up by 4.4 percent; Bananas (Fresh) with proceeds billed at $27.82 million or a decrease of 8.7 percent; and Coconut Oil, with export revenue of $20.22 million or 53.8 percent decrease from the same month in 2006. 

Total receipts from the top ten exports reached $3.115 billion, or 74.8 percent of the total exports.

Fig. 1  Philippine Top Exports: January 2007 and 2006
(F.O.B. Value in Million US Dollars)
 

EXPORTS OF MANUFACTURED GOODS UP BY 17.4 PERCENT

Accounting for 80.5 percent of the total receipts, export of Manufactured Goods was $3.354 billion or a 17.4 percent increase from $2.858 billion in January 2006.  

Earnings from Mineral Products reached $188.59 million or 4.5 percent of the total export revenue. This commodity group continued to record a triple-digit growth since April 2006 due to the upswing in the shipments of copper (metal and concentrates).

Income from All Agro-Based Products went down by 18.0 percent to $120.68 million from $147.19 million, while receipts from exports of the Special Transactions grew by 348.7 percent to $432.82 million from $96.47 million.

Petroleum Products, on the other hand, declined by 21.6 percent to $67.43 million from $85.97 million in January 2006.  Meanwhile, exports revenue of Forest Products went up by 231.4 percent to $3.43 million from $1.03 million recorded in January 2006.  This is due to the increase in the shipments of lumber and plywood.

Fig. 2  Philippine Exports by Commodity Group: January 2007 and 2006
(F.O.B. Value in Million US Dollars)
 

EXPORTS TO UNITED STATES ACCOUNT FOR 16.8 PERCENT

United States of America (USA) is still the top market of the country for January with export receipts of $697.79 million, accounting for 16.8 percent of the countrys aggregate income for the month. Receipts went up by 10.5 percent from last year's reported figure of $631.61 million.

Japan followed with earnings of $606.84 million or a 14.6 percent share of the total exports for the month which resulted to an increase of 15.6 percent from $524.87 million recorded in January 2006.

Peoples Republic of China emerged as the third biggest market for the month with shipments amounting to $496.44 million or 11.9 percent of the total, an increment of 89.1 percent from a year ago level of $262.60 million.

Hong Kong, with $457.26 million or 11.0 percent of the total revenue, reflected a 113.2 percent increase from $214.50 million in January 2006.

Other top markets for January 2006 were Taiwan, $354.61 million; Netherlands, $284.84million; Singapore, $266.15 million; Malaysia, $194.84 million; Germany, $160.20 million; andThailand, $120.22 million.

Total export receipts from RPs top ten markets for the month of January 2007 amounted to $3.639 billion or 87.3 percent of the total.

Fig. 3  Philippine Top Exports by Country: January 2007
(F.O.B. Value in Million US Dollars)

Technical Note:

Starting this January 2007 Press Release, analysis and tables are based on 2004 Philippine Standard Commodity Classification (PSCC) groupings (as amended in 1999).  This is in compliance with   NSCB   Resolution No. 03, Series of 2005 entitled Approving and Adopting the 2004 Philippine Standard Commodity Classification by all concerned government agencies and instrumentalities.

Source:    Foreign Trade Statistics Section
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines

Page last revised:  March 9, 2007