EXPORTED GOODS IN JANUARY 2017 INCREASE BY 22.5 PERCENT

The Philippines’ export sales amounted to $5.130 billion in January 2017, a 22.5 percent increase from $4.187 billion recorded value in January of 2016.  The positive growth was mainly brought about by the significant increases in eight major commodities out of the top ten commodities for the month.  These include articles of apparel and clothing accessories (270.1%), coconut oil includes oil and refined (229.6%), chemicals (104.7%), metal components (66.3%), electronic equipment and parts (64.8%), other manufactures (58.8%), machinery and transport equipment (27.9%),  and electronic products (10.4%) (Table 1).

EXPORTS OF ELECTRONIC PRODUCTS INCREASE BY 10.4 PERCENT

Electronic Products remained as the country’s top export with total receipts of $2.365 billion, accounting for 46.1 percent of the total exports revenue in January 2017. It increased by 10.4 percent from $2.142 billion registered in January 2016.  Components/Devices (Semiconductors), having the biggest share of 31.8 percent among electronic products, increased by 10.6 percent to $1.632 billion in January 2017 from $1.476 billion in January 2016.

Other Manufactures was the second top export earner in January 2017   with   export   revenue   of $430.28 million.  Export sales for this commodity group went up by 58.8 percent from $270.96 million in January 2016.

Machinery and Transport Equipment ranked third, with 6.9 percent share to the  total  export receipts,  posting  at  $352.45  million.   It  recorded  an  increase of 27.9 percent from January 2016 value of $275.56 million.

Articles of Apparel and Clothing Accessories  ranked  fourth, with a contribution of 6.3 percent share to the total export receipts, recorded sales of
$320.55 million in January 2017.  It   registered  a  270.1  percent increase from the previous year level of $86.60 million.

Coconut oil, includes crude and refined, was   recorded   as   the   country’s   fifth top export earner with value at $199.64 million or 3.9 percent share to total exports. It went up by 229.6 percent from $60.57 million in same period of 2016.

Rounding up the list of the top ten exports with corresponding export sales for the month of January 2017 were:

• Chemicals   with   $179.49 million, accelerated by 104.7 percent; 
• Woodcrafts and Furniture   with  $178.01 million, dropped by 24.7 percent;
• Ignition Wiring Set and Other Wiring Sets Used in  Vehicles, Aircrafts and Ships with   $165.59 million, decreased by   5.0 percent;
• Metal Components with $147.24 million, grew by 66.3 percent; and
• Electronic  Equipment  and  Parts  with  $117.21 million, increased by 64.8 percent.

Total receipts from the top ten exports reached $4.455 billion or 86.8 percent of the total exports and grew by 27.5 percent in 2017.

EXPORTS OF MANUFACTURED GOODS WENT UP BY 23.1 PERCENT

Outward shipments of Manufactured Goods were valued at $4.505 billion, accounting   for 87.8 percent of the total export receipts in January 2017.  It went up by 23.1 percent from $3.659 billion recorded in January 2016 (Table 2). 

Exports from Total Agro-Based Products, with a 7.5 percent share to total exports in January 2017, amounted to $386.46 million.   It   rose   by 33.7 percent from $289.12 million in January 2016.

Mineral  Products  with a 2.0 percent  share, decreased by 29.6 percent from $145.29 million in January 2016 to $102.33 million in January 2017.

Merchandise exports from Special Transactions, sharing 2.3 percent of   the   total  exports revenue, grew by 41.9 percent to $115.56 million in January 2017 from $81.46 million in January 2016. 

Petroleum Products, with 0.2 percent share, increased by 16.0 percent to $11.58 million in January 2017 from $9.98 million in the same month in 2016.

Moreover, sales from Forest Products, accounting for almost 0.2 percent share of the total   exports,   went up   by   266.21 percent to $9.76 million in January 2017 from $2.67 million reported value in same period of 2016.

JAPAN ACCOUNTS FOR 17.3 PERCENT TO TOTAL EXPORTS IN JANUARY 2017

Total export receipts from the country’s top ten market destinations for the month of January 2017 was valued at $4.165 billion or 81.2 percent share of the total (Table 3). 

Japan including Okinawa remained as the country’s top export destination with revenue amounting to $887.68 million, comprising 17.3 percent share to total exports for January 2017.  It decreased, however, by 6.6 percent from $950.52 million recorded in the same month a year ago.

United States of America (USA) including Alaska and Hawaii ranked second, accounting 16.5 percent to total exports, with export receipts valued at $847.07 million in January 2017. It recorded an increase of 21.2 percent from $698.85 million in same month last year.

Hong Kong ranked third with $529.64 million or 10.3 percent share of the total exports.  It grew by 20.7 percent from $438.79 million in the same month year ago.

People’s Republic of China with 9.8 percent share to total exports, ranked fourth with shipments valued at $501.20 million.  It went up by 23.6 percent from $405.65 million in same month a year ago.

Singapore placed fifth, representing a 6.3 percent share to total exports, with export earnings worth $325.41 million.  It accelerated by 16.8 percent from
$278.70 million posted in January 2016.

Other top ten market destinations for January 2017 were: Netherlands, $258.15 million; Republic of Korea, $223.11 million; Germany, $214.64 million;  Thailand, $206.56 million; and Taiwan, $171.74 million.

EXPORTS FOR COUNTRIES IN EAST ASIA ACCOUNTED FOR 45.1 PERCENT

By economic bloc, the country’s merchandise exports in January 2017 went to countries in East Asia, accounting for 45.1 percent share to total exports valued at $2.315 billion.  It increased by 11.1 percent from $2.085 billion of January 2016.        

Exports to European Union member countries, with 17.5 percent share to total merchandise exports amounted to $896.69 million.  It went up by 82.5 percent from $491.34 million recorded in January 2016.

Commodities exported to ASEAN member countries comprised 14.7 percent of the total exports in January 2017 and was valued at $751.54 million. This registered a positive growth of 19.3 percent from $630.02 million posted in same month a year ago (Table 4).

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 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).