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

JULY 2007 MERCHANDISE EXPORTS UP BY 4.5 PERCENT

Export earnings in July 2007 went up by 4.5 percent to $4.196 billion from $4.016 billion in July 2006. Similarly, receipts from merchandise exports during January to July increased by 6.3 percent to $28.733 billion from $27.029 billion during the same seven-month period in 2006.

ELECTRONIC PRODUCTS INCREASE BY 5.1 PERCENT

Accounting for 59.2 percent of the aggregate export revenue in July, Electronic Products went up by 5.1 percent to $2.484 billion from $2.364 billion in July 2006.  This is due to the increase in the outward shipments of components/devices (semiconductors), automotive and consumer electronics.

Articles of Apparel and Clothing Accessories continued to be the countrys second top earner with a combined share of 5.7 percent and an aggregate receipt of $240.97 million or 13.4 percent lower than $278.32 million in July 2006.

Petroleum Products ranked third with total revenue of $112.52 million, or a decrease of 0.6 percent from $113.22 million in July 2006.

Woodcrafts and Furniture ranked fourth with sales amounting to $89.70 million or a growth of 12.6 percent from $79.68 million in July 2006.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships(consisted only of electrical wiring harness for motor vehicles) ranked fifth with export receipts of $89.41 million or a year-on-year growth of 45.3 percent from $61.53 million in July 2006.

Rounding up the list of the top exports for the month of July 2007 were Coconut Oil, $69.57million or a growth of 103.1 percent; Other Products Manufactured from Materials Imported on Consignment Basis, $58.41 million or a decrease of 9.5 percent; Metal Components with proceeds billed at $51.05 million or a growth of 26.8 percent; Iron Ore Agglomerates, $29.00million or a growth of 105.4 percent; and Bananas (Fresh), with export revenue of $26.47 million or 19.2 percent decline from the same month in 2006.

Total receipts from the top ten exports reached $3.251 billion, or 77.5 percent of the total exports.

Fig. 1  Philippine Top Exports: July  2007 and 2006
(F.O.B. Value in Million US Dollars)
 

EXPORTS OF MANUFACTURED GOODS UP BY 7.8 PERCENT

Accounting for 86.0 percent of the total receipts, export of Manufactured Goods was $3.607 billion, or 7.8 percent growth from $3.347 billion in July 2006.  

Earnings from Mineral Products reached $144.51 million or 3.4 percent share of the total export revenue, recording a decline of 40.8 percent from $244.00 million in July 2006.

All Agro-Based Products with a 4.9 percent share of the total export receipts generated a combined income of $205.19 million or a growth of 21.1 percent from $169.46 million in July 2006; with coconut products posting the highest growth of 76.5 percent.

Petroleum Products, on the other hand, slightly declined by 0.6 percent to $112.52 million from $113.22 million in July 2006.  However, total export receipts for Petroleum Products during January to July 2007 remained to be positive at 5.0 percent to $581.56 million from $553.73 million during the same seven-month period in 2006. 

Since March 2007, receipts from exports of Special Transactions still posted a negative growth of 14.5 percent to $120.57 million from $140.98 million in July 2006.

Meanwhile, exports revenue of Forest Products posted a strong growth of 185.9 percent to $6.04 million from $2.11 million in July 2006.  This is due to the increase in the outward shipments of plywood products.

Fig. 2  Philippine Exports by Commodity Group: July 2007 and 2006
(F.O.B. Value in Million US Dollars)
 

EXPORTS TO UNITED STATES ACCOUNT FOR 18.3 PERCENT

Accounting for 18.3 percent of the countrys aggregate income for the month, United States of America (USA) continued to be the top market of the country for July with export receipts of $767.95 million, or an increase of 0.7 percent from $762.33 million in July 2006.

Despite a decline of 1.5 percent to $636.01 million from $645.59 million in July 2006, Japanremained to be the second top market for the month with a 15.2 percent share of the total exports.

Peoples Republic of China emerged as the third biggest market for the month with shipments amounting to $491.83 million or 11.7 percent of the total, up by 47.6 percent from its year-ago level of $333.13 million.

Hong Kong, ranked fourth with $372.47 million or 8.9 percent of the total revenue, down by 2.4 percent from $381.49 million in July 2006.

Other top markets for July 2007 were Netherlands, $346.41 million; Singapore, $253.05 million; Malaysia, $230.04 million; Germany, $213.51 million; Taiwan, $151.59 million; andRepublic of Korea, $117.34 million.

Total export receipts from RPs top ten markets for the month of July 2007 amounted to $3.580 billion or 85.3 percent of the total.

Fig. 3  Philippine Exports by Top Markets : July 2007
(F.O.B. Value in Million US Dollars)

Technical Note:

Starting with the January 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings.  This 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.

Source:    Foreign Trade Statistics Section
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines