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

JULY 2009 MERCHANDISE EXPORTS DOWN BY 25.4 PERCENT DECLINE

Export earnings in July 2009 dropped by 25.4 percent to $3.312 billion from $4.437 billion reported in July 2008.  Compared to previous months level, it went down by 2.8 percent from $3.406 billion in June 2009.  Aggregate merchandise exports from January to July 2009 showed a 31.7 percent negative growth to $20.533 billion from $30.060 billion registered during the same seven-month period in 2008.

ELECTRONIC PRODUCTS POSTED 25.2 PERCENT DECLINE

Accounting for 57.8 percent of the total export revenue in July 2009, Electronic Productsamounted to $1.915 billion. It was lower by 25.2 percent from $2.560 billion recorded in July 2008.  The decline can be attributed to the 24.8 percent annual decrease in the Components/Devices (Semiconductors) which comprised 42.8 percent of the total exports and the biggest share among the major groups of electronic products.   However, month-on-month, it increased by 5.8 percent from $1.340 billion in June 2009.

Articles of Apparel and Clothing Accessories representing 3.8 percent share of total exports in July 2009 emerged as RPs second top earner with revenue valued at $125.19 million. It fell by 26.4 percent over last years figure of $170.07 million.   

Coconut Oil followed as the third top earner in July 2009 with total export earnings of $79.98 million or a share of 2.4 percent to the total export receipts.  It was down by 22.6 percent from $103.36 million in July 2008.

Ranked fourth in July 2009 and contributing 2.0 percent to the total export receipts wasWoodcrafts and Furniture with revenue amounting to $67.25 million. This value decreased by 29.9 percent from its year ago level of $95.96 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships with 1.9 percent share to the total export receipts ranked fifth with value posted at $62.62 million or 14.3 percent decrease from $73.04 million in July 2008.

Rounding up the list of the top ten exports for the month of July 2009 were Other Products Manufactured from Materials Imported on Consignment Basis with export receipts amounting to $54.35 million and exhibited a positive annual growth of 25.5 percent; Bananas (Fresh) with export earnings of $41.56 million and the top gainer among the commodity group, up by 26.8 percent; Metal Components (excluding brakes and servo  brakes) with proceeds billed at $40.56 million a negative growth of 20.5 percent; Cathodes and Sections of Cathodes, of Refined Copper  with sales amounting to $36.55 million and exhibited the highest decrease of 65.5 percent among the top ten exports in July 2009; and Tuna with export revenue of $34.80 million, a decline by  16.3 percent from its July 2008 level. 

Total receipts from the top ten exports reached $2.458 billion, or 74.2 percent of the total exports.

Fig. 1  Philippine Top Five Exports: July 2009 and 2008
(F.O.B. Value in Million US Dollars)
 

EXPORTS OF MANUFACTURED GOODS STOOD AT $2.817 BILLION

Accounting for 85.1 percent of the total receipts, outward shipments of Manufactured Goods in July 2009 reached $2.817 billion or a 22.3 percent decrease from $3.625 billion recorded in the same period a year earlier. Compared to June 2009, it continued to go down by 3.9 percent from $2.930 billion.  

Income from Total Agro-Based Products comprising 7.0 percent of the total exports revenue in July 2009 dropped by 11.0 percent to $232.40 million from $261.16 million in July 2008.

Export receipts from Special Transactions with a share of 3.7 percent continued to post a declined of 4.1 percent to $121.03 million from $126.22 million in the same month a year ago.

Earnings from Mineral Products with a share of 3.5 percent in July 2009 reached $116.05 million, reflecting a 54.4 percent decline from $254.48 million.

Exports revenue of Petroleum Products with 0.7 percent share of the total exports dropped by 86.6 percent to $22.50 million from $168.10 million recorded in July 2008. Similarly, Forest Products with 0.1 percent share of the total exports in July 2009 posted a positive growth of 47.3 percent to $2.92 million from $1.98 million posted in July 2008.

Fig. 2  Philippine Exports by Commodity Group: July 2009 and 2008
(F.O.B. Value in Million US Dollars)
 

EXPORTS TO UNITED STATES ACCOUNTED FOR 17.6 PERCENT

United States of America (USA) including Alaska and Hawaii, comprising 17.6 percent of the total exports for July 2009 maintained its niche as the countrys top destination of exports with revenue amounting to $583.75 million. It was lower by 17.5 percent from $707.43 million recorded a year earlier.

Japan including Okinawa, followed as the second top market of the country for July 2009 with export earnings of $550.19 million or 16.6 percent share of the total exports. The amount declined by 21.3 percent from $698.73 million reported in July 2008.

Netherlands came in third with shipments amounting to $301.15 million, representing 9.1 percent of the total exports. The amount went down by 12.1 percent from its year ago level of $342.58 million.

Hong Kong ranked fourth with $259.63 million or 7.8 percent of the total exports down by 39.5 percent from $429.34 million recorded in July 2008.

Fifth in rank and accounting for 6.9 percent share from the total exports was Peoples Republic of China with revenue amounting to $226.92 million or a year-on-year decrease of 54.7 percent from $500.55 million.

Other top ten markets for June 2009 were Malaysia (including Sabah and Sarawak), $213.71 million; Singapore, $211.48 million; Germany, $159.25 million; Republic of Korea, $143.15million; and Taiwan $134.74 million.

Total export receipts from RPs top ten markets for the month of July 2009 amounted to $2.784 billion or 84.1 percent of the total.

Fig. 3  Philippine Top Exports by Country: July 2009
                                                   (F.O.B. Value in Million US Dollars)

EXPORTS FROM EASTERN ASIA WORTH $1.315 BILLION

Philippines total exports in July 2009 with Eastern Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) grossed to $1.315 billion or 65.9 percent share to total exports. It posted a drop of 37.6 percent compared to July 2008.

July 2009 Exports to ASEAN member-countries amounted to $593.48 million or 29.7 percent, also exhibited a negative growth of 32.7 percent compared to the same month last year.

Exports to European Union in July 2009 valued at $593.19 or a 29.7 percent share to total exports, posted a decline of 26.2 percent from $786.18 million in July 2008.

Fig. 4  Philippine Exports by Selected Economic Bloc in July: 2009
(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 (as amended in 1999).  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