Merchandise Export Performance : July 2002

Reference Number: 

2002-124

Release Date: 

Wednesday, September 4, 2002

 

MERCHANDISE EXPORTS REGISTERED 23.0 PERCENT INCREASE

Registered earnings for July 2002 increased by 23.0 percent to $3.190 billion from $2.594 billion during the same month a year earlier.

Receipts from merchandise exports for January to July 2002 went up by 6.9 percent to $19.859 billion from $18.582 billion during the same period in 2001.

ELECTRONIC COMPONENTS WENT UP BY 34.6 PERCENT

Receipts from Electronic Components, accounting for 51.1 percent of the aggregate export revenue for the month, rose by 34.6 percent to $1.629 billion from $1.210 billion last year.

Articles of Apparel and Clothing Accessories remained as the country�s second top earner with a combined share of 8.2 percent and an aggregate receipt of $262.4 million or 2.4 percent higher than $256.30 million a year ago.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships, ranked third with a total revenue of $62.0 million reflecting a 45.5 percent increase from $42.6 million last year.

Other Products Manufactured from Materials Imported on Consignments Basis ranked fourth with sales amounting to $41.92 million or a year-on-year growth of 4.8 percent from $40.02 million.

Revenue from Woodcrafts and Furniture increased by 13.4 percent to $40.23 million from $35.48 million during the same month of 2001.

Rounding-up the list of the top exports for the month of July 2002 were: Petroleum Products, $35.71 million; Metal Components, $32.33 million; Cathodes & Section of Cathodes, Of Refined Copper, $31.83 million; Bananas (Fresh), $23.27 million; and Coconut Oil, $22.97 million.

Aggregate receipts for the top ten exports amounted to $2.182 billion, or 68.4 percent of the total exports.

Fig. 1. Philippine Top Exports in July: 2001 & 2002
( F.O.B. Value in Million US Dollar )

MANUFACTURED GOODS INCREASED BY 24.2 PERCENT

Accounting for 89.9 percent of the total receipts, exports of Manufactured Goods went up by 24.2 percent as sales reached $2.867 billion, from $2.309 billion during the same period a year ago.

Income from Agro-Based Products, combined for $120.90 million or 3.8 percent of the total export revenue. Compared to last year, aggregate revenue for this commodity group decreased by 1.4 percent from $122.63 million.

Special Transactions increased by 35.9 percent to $109.30 million from $80.40 million, while receipts from exports of Mineral Products gained by 1.9 percent to $55.12 million from $54.11 million.

Petroleum Products registered $35.71 million, while Forest Products posted $2.41 million dollars.

Fig. 2. Philippine Exports by Commodity Group in July: 2001 & 2002
( F.O.B. Value in Million US Dollar )

EXPORTS TO US ACCOUNT FOR 26.8 PERCENT

Accounting for 26.8 percent of the country's aggregate receipts for the month, exports to the United States valued at $855.98 million, increased by 10.3 percent from last year's reported figure of $775.86 million.

Japan followed with a 14.2 percent share. Valued at $454.43 million, exports to Japan went up by 5.6 percent from $430.21 million.

Netherlands accounted for 10.2 percent of the total receipts at $326.71 million, picking up by 76.4 percent from $185.20 million a year earlier.

Singapore emerged as the fourth biggest market for the month as shipments of local goods amounted to $213.23 million or 6.7 percent of the total. Compared to the same month last year figure, receipts went up by 15.8 percent from $184.11 million. Other top markets for July 2002 were: Taiwan, $201.42 million; Hongkong, $168.74 million; Malaysia, $151.19 million; People�s Republic of China, $137.80 million; Thailand, $104.70 million; and Germany, $96.51 million.

Total export receipts from RP's top ten markets amounted to $2.711 billion or 85.0 percent of the total.

Fig. 3. Philippine Top Exports by Country in July, 2002
( F.O.B. Value in Million US Dollar )

Source: National Statistics Office
              Manila, Philippines

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