EXPORTED GOODS IN JANUARY 2016 DECREASE BY 3.9 PERCENT

The     Philippines’     export   sales   amounted to $4.187 billion in January 2016, a 3.9 percent decrease from $4.357 billion recorded value in January 2015.  The negative growth was mainly brought about by the decreases in five major commodities out of the top ten commodities for the month.  These include articles of apparel and clothing accessories (-46.2%),   chemicals  (-34.6%), machinery and transport equipment (-22.6%), metal components (-14.2%),  and other manufactures (-5.5%) (Table 1).

EXPORTS OF ELECTRONIC PRODUCTS INCREASE BY 5.0 PERCENT

Electronic Products remained as the country’s top export with total receipts of $2.142 billion, accounting for 51.1 percent of the total exports revenue in January 2016. It increased by 5.0 percent from $2.040 billion registered in January 2015.  Components/Devices     (Semiconductors),     had     the    biggest    share     of      35.3 percent among electronic products, increased by 5.1 percent to $1.476 billion in January 2016 from $1.404 billion in January 2015.

Machinery and Transport Equipment was the second top export earner in January 2016   with   export   revenue   of  $275.56 million.  However, export sales for this commodity group went down by 22.6 percent from $356.04 million in January 2015.

Other Manufactures ranked third, with 6.5 percent share to the total export receipts, posting at $270.96 million. It recorded a decrease of 5.5 percent from January 2015 value of $286.70 million.

Woodcrafts and Furniture  ranked  fourth, with a contribution of 5.6 percent share to the total export receipts, recording sales of $236.51 million in January 2016.  It   registered  a  42.0  percent increase from the previous year level of $166.51 million.

Ignition Wiring Set and Other Wiring Sets Used in  Vehicles, Aircrafts and Ships    was   recorded   as   the   country’s   fifth top export earner with value at $174.30 million or 4.2 percent share to total exports. It went up by 14.5 percent from $152.25 million in same period of 2015.

Rounding up the list of the top ten exports with corresponding export sales for the month of January 2016 were:

• Metal Components   with   $88.52 million, decelerated by 14.2 percent; 
• Chemicals   with  $87.70 million, dropped by 34.6 percent;
• Articles of Apparel and Clothing Accessories with   $86.60 million, decreased   by   46.2 percent;
• Electronic Equipment and Parts with $71.11 million, grew by 6.7 percent; and
• Pineapple and Pineapple Products    with    $60.93     million, increased by 90.5 percent.

Total receipts from the top ten exports reached $3.494 billion, or 83.4 percent of the total exports which slightly drop by 0.1 percent in 2016.

EXPORTS OF MANUFACTURED GOODS WENT DOWN BY 2.2 PERCENT

Outward shipments of Manufactured Goods were valued at $3.659 billion, accounting   for 87.4 percent of the total export receipts in January 2016.  It went down by 2.2 percent from $3.739 billion recorded in January 2015 (Table 2). 

Exports from Total Agro-Based Products, with a 6.9 percent share to total exports      in      January    2016,    amounted   to   $289.12  million.   It   dropped   by 7.6 percent from $312.96 million in January 2015.

Mineral  Products   with   a 3.5 percent  share to total exports, decreased by 27.8 percent from $201.17 million in January 2015 to $145.29 million in January 2016.

Merchandise exports from Special Transactions, sharing 1.9 percent of   the   total  exports revenue, fell by 5.6 percent  from  $86.30 million in January 2015 to $81.46 million in January 2016. 

Petroleum Products, with 0.2 percent share, declined by 17.8 percent from $12.14 million in January 2015 to $9.98 million in the same month in 2016.

Moreover, sales from Forest Products, accounting for 0.1 percent share of the total   exports,   decreased   by   46.0 percent from $4.93 million in January 2015 to $2.66 million reported value in same period of 2016.

Total export receipts from the country’s top ten market destinations for the month of January 2016 was valued at $3.547 billion or 84.7 percent share of the total export receipts (Table 3).  See Figure 4.

Japan including Okinawa remained as the country’s top export destination with revenue amounting to $950.52 million, comprising 22.7 percent share to total exports for January 2016.  It increased by 7.7 percent from $882.61 million recorded in the same month a year ago.

United States of America (USA) including Alaska and Hawaii ranked second, accounting 16.7 percent to total exports, with export receipts valued at $698.85 million in January 2016. It recorded an increase of 0.7 percent from $693.87 million in same month last year.

Hong Kong ranked third with $438.79 million or 10.5 percent share of the total exports.  It grew by 2.6 percent from $427.47 million in the same month year ago.

People’s Republic of China with 9.7 percent share to total exports, ranked fourth   with   shipments   valued   at   $405.65 million.  It went down by 8.6 percent from $443.96 million in same month a year ago.

Singapore placed fifth, representing a 6.6 percent share to total exports, with export earnings worth $278.70 million.  It declined by 8.6 percent from $304.89 million posted in January 2015.

Other   top    ten  market destinations for   January 2016 were: Germany, $179.45 million; Thailand, $170.49 million;   Republic of Korea, $148.27 million;  Netherlands, $139.47 million; and Taiwan, $136.56 million.

ABOUT 50 PERCENT OF EXPORTS ARE FOR COUNTRIES IN EAST ASIA

Majority of the country’s merchandise exports in January 2016 went to countries in East Asia,   accounting for 49.6 percent share to total exports valued at $2.085 billion.  It increased by 0.7 percent from $2.069 billion of January 2015.        

Commodities exported to ASEAN member countries comprised 15.0 percent of the total exports in January 2016 and was valued at $630.02 million. This registered a decrease of 9.5 percent from $696.28 million posted in same month a year ago.

Exports to European Union member countries, with 11.7 percent share to total merchandise exports amounted to $491.11 million.  It went up by 3.8 percent from $510.70 million recorded in January 2015 (Table 3a).

Technical Notes

Export trade statistics are compiled by the Philippine Statistics Authority (PSA) from copies of export declarations filed with the Bureau of Customs (BOC) by exporters or their authorized representatives as required by law. PSA collects a copy of the accomplished form Export Declaration (ED – DTI form). Aside from the hard copy of the ED, the output of the Automated Export Documentation System (AEDS) is being utilized to generate export statistics. AEDS is a paperless transaction in lieu of the manual filling-up of export documents. The digitized copy of the AEDS is provided by BOC and PEZA to PSA on a monthly basis through email.

All documents (hard copies and e-files) received before the cut-off date which is every 25^th day of the month are compiled, processed and generated in a monthly statistical tables for the preparation of Press Release.  All documents received after the cut-off date, however, are processed and included in the generation of the revised statistical tables.  Processing includes coding, editing, review and validation.  Revised statistical tables are made available 10 to 15 working days after the press release date.

The Press Release is due every 10^th day of each month.  However, if the 10^th day falls on a Saturday, release will be on Friday but if it falls on a Sunday or Monday the release will be on Tuesday.  If the release date falls on holiday, the date of release is moved accordingly.

The 2004 Philippine Standard Commodity Classification (PSCC) is used to classify the imported commodities at the most detailed level for statistical purposes.

Data request of international merchandise trade statistics are available at Philippine Statistics Authority, Economic Sector Statistics Service, Trade Statistics Division (Telephone Number: 376-19-75).

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