* Includes transactions that pass through Automated Export Documentation System (AEDS)- Subic Bay    Metropolitan Authority (SBMA).
p - preliminary
r - revised

Merchandise exports register 11.4 percent increase 

Export earnings for July 2005 increased by a double-digit figure at 11.4 percent to $3.462 billion from $3.109 billion during the same period of the previous year.

Receipts from merchandise exports during the period January to July 2005 grew by 4.6 percent to $22.901 billion from $21.893 billion during the same period a year earlier.

Electronic products up by 14.2 percent  

Electronic products, accounting for 66.2 percent of the aggregate export revenue in July, went up by 14.2 percent to $2.293 billion from $2.008 billion a year ago. Increases were observed in five electronic groups with control and instrumentation contributing the highest positive growth of 166.4 percent.

Among the major groups of electronic products, components/devices (Semiconductors) got the biggest share with 45.6 percent to total exports. Semiconductors posted a positive rate of 15.9 percent to $1.579 billion from $1.362 billion during the same month in 2004 due to the higher demand in integrated circuits (IC) and diodes.

Articles of apparel and clothing accessories remained as the country’s second top earner with a combined share of 6.6 percent and an aggregate receipt of $229.42 million or 7.8 percent higher than $212.90 million a year ago.

Ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles), ranked third with sales amounting to $66.66 million or a year-on-year positive rate of 2.7 percent from $64.91 million. 

Other products manufactured from materials imported on consignment basis, ranked fourth with total revenue of $48.72 million reflecting a 39.4 percent increase from $34.94 million during the same period of 2004. This was brought about by the bulk order of camera lens assembly.

Revenue from coconut oil slightly increased by 0.3 percent to $47.27 million from $47.14 million. 

Rounding up the list of the top exports for the month of July 2005 were: petroleum products, $44.34 million. This was brought about by the exportations made on petroleum naphtha and fuel and lubricating oils. Woodcrafts and furniture, $36.54 million; metal components, $32.08 million. Compared to last year, aggregate receipt for this commodity group went up by 25.4 percent from 25.59 million due to higher value of exports for parts of air conditioning machine and gear-boxes of the motor vehicles. Bananas (fresh), 27.60 million; and cathodes and sections of cathodes, of refined copper, $25.21 million.

Total receipts for the top ten exports reached $2.850 billion, or 82.3 percent of the total exports.

Fig. 1  Philippine Top Exports: July 2004 and 2005
(F.O.B. Value in Million US Dollars)

Exports of manufactured goods up by 13.5 percent

Accounting for 91.0 percent of the total receipts, exports of manufactured goods was worth $3.151 billion, an increment of 13.5 percent  from $2.776 billion during the same period of 2004.

Earnings from all agro-based products combined for $142.27 million or 4.1 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group fell by 5.7 percent from $150.81 million.

Income from   special transactions declined by 23.9 percent to $62.84 million from $82.58 million while receipts from exports of mineral products decreased by 13.2 percent to $59.10 million from $68.06 million.

Petroleum products registered earnings of $44.34 million, while forest products recorded $2.28 million.

Fig. 2  Philippine Exports by Commodity Group: July 2004 and 2005
(F.O.B. Value in Million US Dollars)

 

Exports to Japan account for 17.3 percent

Accounting for 17.3 percent of the country's aggregate income for the month, exports to Japan was valued at $598.06 million. Receipts slightly increased by 0.5 percent from last year's reported figure of $595.29 million. 

United States followed with a 16.8 percent share. Earnings at $581.15 million, dropped by 23.1 percent from $755.70 million.

People's Republic of China emerged as the third biggest market for the month as shipments of local goods amounted to $567.63 million or 16.4 percent of the total. Receipts accelerated by as much as 200.5 percent from $188.91 million during to the same period of 2004.

Exports to Netherlands accounting for 8.5 percent of the total receipts was worth $294.06 million, a 131.0 percent increase from $127.28 million during the same month a year ago.

Other top markets for July 2005 were: Hong Kong, with exports worth $263.95 million; Malaysia, $213.59 million;  Singapore, $201.33 million; Taiwan, $132.39 million; Republic of Korea, $105.77 million; and Thailand, $90.28 million.

Total export receipts from RP's top ten markets for the month of July amounted to $3.048 billion or 88.0 percent of the total.

Fig. 3  Philippine Top Exports by Country: July 2005
(F.O.B. Value in Million US Dollars)

Source:  Economic Indices and Indicators Division
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines