MERCHANDISE EXPORTS POST 19.4 PERCENT DECREASE

Receipts from merchandise exports for January to July 2001 decreased by 10.8 percent to $18.582 billion from $20.836 billion during the same period last year.

For July 2001, merchandise exports declined by 19.4 percent to $2.594 billion from $3.219 billion during the same month last year.

ELECTRONIC COMPONENTS DECLINE BY 36.6 PERCENT

Receipts from Electronic Components, accounting for 45.6 percent of the aggregate export revenue for the month, went down by 36.6 percent to $1.182 billion from $1.864 billion a year earlier.

Articles of Apparel and Clothing Accessories remained as the countrys second top earner with a combined share of 9.8 percent and aggregate receipts of $255.39 million or 7.8 percent lower than $277.13 million last year.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships combined for $42.61 million reflecting a 22.6 percent decline from $55.02 million last year.

Other Products Manufactured from Materials Imported on Consignments Basis Woodcrafts and Furniture ranked fourth with sales amounting to $39.49 million or a year-on-year growth of 22.2 percent from $32.31 million.

Revenue from Woodcrafts and Furniture dropped 26.2 percent to $34.62 million from $46.92 million during the same month of 2000.

Rounding-up the list of the top exports for the month of July 2001 were: Metal Components, $32.50 million; Coconut Oil, $30.44 million, Cathodes & Sections of Cathodes, of Refined Copper,$29.01 million, Petroleum Products, $27.80 million; and Bananas (Fresh), $23.48 million.

Aggregate receipts for the top ten exports amounted to $1.698 billion, or 65.4 percent of the total exports.

Fig. 1. Philippine Top Exports in July : 2000 & 2001
( F.O.B. Value in Million US Dollar )

MANUFACTURED GOODS DOWN BY 22.0 PERCENT

Accounting for 87.7 percent of the total receipts, exports ofManufactured Goods dropped 22.0 percent settling at $2.276 billion from $2.916 billion during the same period last year.

Income from Agro-Based Products combined for $129.76 million, representing 5.0 percent of the total export revenue. Compared to last year, total earning for this commodity group fell by 2.5 percent from $133.05 million.

Special Transactions grew by 18.3 percent to $108.67 million, while receipts from exports of Mineral Products went up by 37.8 percent to $51.83 million.

Petroleum Products contributed $27.80 million, while Forest Products chipped in with over half a million dollars.

Fig. 2. Philippine Exports by Commodity Group in July : 2000 & 2001
( F.O.B. Value in Million US Dollar ) 

EXPORTS TO US ACCOUNT FOR 29.8 PERCENT

Accounting for 29.8 percent of the countrys aggregate receipts for the month, value of exports to the United States placed at $772.53 million, declined by 23.8 percent from last year's reported figure of $1.013 billion.

Japan followed with a 16.5 percent share. Valued at $427.56 million, exports to Japan slowed down by 4.1 percent from $445.91 million.

Netherlands accounted for 7.1 percent of the total receipt, despite a 16.3 percent drop in receipts settling at $184.81 million from $220.74 million a year earlier.

Singapore emerged as the fourth biggest market for the month as shipments of local goods amounted to $183.42 million or 7.1 percent of the total. Compared to the same month last year, receipts fell by 32.7 percent from $272.39 million. Other top markets for July 2001 were Taiwan, $163.60 million; Thailand, $115.62 million; Hongkong, $112.69 million; Germany, $102.22 million;Malaysia, $85.54 million; and United Kingdom of Great Britain and N. Ireland, $81.86 million.

Total export receipts from RPs top ten markets amounted to $2.230 billion or 86.0 percent of the total.

Fig. 3. Philippine Top Exports by Country in July 2001
( F.O.B. Value in Million US Dollar ) 

Source: National Statistics Office
              Manila, Philippines