* Includes transactions that passed through Automated Export Documentation System (AEDS).
p - preliminary
r - revised

Merchandise exports register 12.9 percent increment    

Export earnings in July 2006 went up by 12.9 percent to $3.955 billion from $3.503 billion during the same period of the previous year. The double-digit increment was observed since February of the current year.

Receipts from merchandise exports during January to July grew by 16.2 percent to $26.692 billion from $22.974 billion during the same period a year earlier.

Electronic products up by 1.4 percent     

Electronic products, accounting for 59.8 percent of the aggregate export revenue in July, recorded an increase of 1.4 percent to $2.366 billion from $2.333 billion a year ago.  

Among the major groups of electronic products, components/devices (Semiconductors) got the major share with 44.7 percent to total exports. Semiconductors posted a positive growth at 9.5 percent to $1.767 billion from $1.613 billion during the same month in 2005. The other electronic products group that showed inceases were Automotive Electronics at 24.5 percent with a share of 0.88 percent, Office Equipment at 32.5 percent with a share of 0.57 percent, Telecommunication at 104.7 percent with a share of 0.34 percent, and Medical/Industrial Instrumentation at 61.2 percent with a share of 0.03 percent to total exports.

Articles of apparel and clothing accessories remained as the country’s second top earner with a combined share of 7.0 percent and an aggregate receipt of $277.58 million or 21.0 percent higher than $229.49 million a year ago. This was brought about by the bulk order of women's wear, as well as jerseys, pullovers, cardigans, waistcoats and similar articles, of cotton, knitted/croheted..

Petroleum products, ranked third with total revenue of $104.99 million reflecting a 136.8 percent climb from $44.34 million during the same period of 2005. The growth in petroleum products can be attributed to the higher demand in fuel oils and petroleum naphtha.

Cathodes and sections of cathodes, of refined copper, ranked fourth with sales amounting to $95.42 million or an acceleration of 278.5 percent from $25.21 million. 

Revenue from Woodcrafts and furniture with a 2.02 percent share, registered a $79.75 million worth of exports from $36.59 million a year ago, resulting from higher demand in other builders' joinery and carpentry of wood and other wooden furniture.   

Rounding up the list of the top exports for the month of July 2006 were other products manufactured from materials imported on consignment basis, wiht sales amounting to $64.52 million or an  increase of 31.2 percen from $49.17 milliont; ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles), $61.50 million or a year-on-year decline of 7.7 percent; Gold, with  revenue recorded at $42.97 million or a year-on-year positive rate of 1,786.5 percent. Metal Components with proceeds billed at $39.17 million recorded an increment of 20.7 percent from $32.45 million. The growth in metal components can be credited to the higher demand in parts for air conditioning machine, and coconut oil with an export, valued at $34.25 million.

Total receipts from the top ten exports reached $3.166 billion, or 80.1 percent of the total exports.

Fig. 1  Philippine Top Exports: July 2006 and 2005
(F.O.B. Value in Million US Dollars)

Exports of manufactured goods went up by 6.7 percent

Accounting for 85.7 percent of the total receipts, exports of manufactured goods was $3.390 billion with a 6.7 percent growth from $3.177 billion during the same period of 2005.

Earnings from mineral products combined for $200.28 million or 5.1 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group gained by as much as 237.3 percent from $59.37 million.

Income from all agro-based products rose by 7.9 percent to $171.10 million from $158.54 million while receipts from exports of petroleum products moved up by 136.8 percent to $104.99 million from $44.34 million.

Special transactions registered earnings of $86.98 million, while forest products contributed $2.11 million.

Fig. 2  Philippine Exports by Commodity Group: July 2006 and 2005
(F.O.B. Value in Million US Dollars)

 

Exports to United States account for 19.2 percent

Exports to United States valued at $758.28 million, accounted for 19.2 percent of the country's aggregate income for the month. Receipts grew by 28.2 percent from last year's reported figure of $591.38 million. 

Japan followed with a 16.3 percent share. With earnings of $642.62 million, exports to Japan gained by 3.5 percent from $620.73 million.

Hong Kong emerged as the third biggest market for the month as shipments of local goods amounted to $381.44 million or 9.6 percent of the total. Exports moved up by 40.3 percent from $271.98 million compared to the same period of 2005.

Netherlands accounted for 8.4 percent of the total revenue, with $333.20 million reflecting a 13.3 percent growth from $294.08 million during the same month a year ago.

Other top markets for July 2006 were People's Republic of China, $332.79 million; Singapore, $279.05 million;  Malaysia, $225.48 million; Taiwan, $209.63 million; Germany, $162.31 million; and Thailand, $111.72 million.

Total export receipts from RP's top ten markets for the month of July amounted to $3.437 billion or 86.9 percent of the total.

Fig. 3  Philippine Top Exports by Country: July 2006
(F.O.B. Value in Million US Dollars)

Technical Notes:

1. Analysis and Tables 1 to 3 in this Press Release are based on data using the 1993 Philippine Standard Commodity Classification (PSCC) groupings  (as amended in 1999).

2. Starting with the July 2006 series of Foreign Trade Statistics (FTS), additional tables (Tables 4 and 5) using the 2004 PSCC groupings are provided.

3.The adoption of the 2004 PSCC is in compliance with NSCB Resolution No. 03, Series of 2005 entitled    "Approving and Adopting the 2004 Philippine Standard Commodity Classification" by all concerned government agencies and instrumentalities.

4. In view of the adoption of the new classification system, the NSO shall issue two sets of detailed tables: 7-digit following the 1993 PSCC (as amended in 1999) and 10-digit using the 2004 PSCC simultaneously, until the December 2006 FTS. However, beginning January 2007 FTS, only the 2004 PSCC groupings will be released by NSO.

5. Detailed tables at commodity levels are available upon request from the NSO-Industry and Trade Statistics Department, 10 days after the monthly press release.

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