MERCHANDISE EXPORT PERFORMANCE *
July 2010
( Preliminary )
* Includes transactions that passed through Automated Export Documentation System (AEDS).
p - preliminary
r - revised
MERCHANDISE EXPORTS FOR JULY 2010 UP BY 35.9 PERCENT
Export earnings in July 2010 amounted to $4.503 billion, registering a double-digit growth of 35.9 percent from it's year ago level of $3.313 billion. However, a decrease of 1.2 percent from its previous month level was recorded from $4.555 billion in June 2010. Meanwhile, aggregate merchandise exports for the period January to July 2010 increased by 37.4 percent to $28.223 billion from $20.538 billion posted during the same seven- month period in 2009.
ELECTRONIC PRODUCTS INCREASED BY 49.4 PERCENT
Accounting for 63.6 percent of the total export revenue in July 2010, Electronic Products was the country's top export with total earnings of $2.862 billion. It grew by 49.4 percent from $1.915 billion in July 2009. Components/Devices (Semiconductors) which comprised 51.0 percent of the total exports and the biggest share among the major groups of electronic products amounted to $2.298 billion or an annual growth of 62.2 percent. Month-on-month, Electronic Products lowered by 1.5 percent from $2.905 billion in June 2010.
Articles of Apparel and Clothing Accessories followed as the second top earner in July 2010 with total export earnings of $145.30 million or a share of 3.2 percent to the total export receipts. It climbed by 16.1 percent from $125.19 million recorded in July 2009.
Coconut Oil (including crude and refined) which comprised 3.1 percent share of total exports in July 2010 emerged as RP's third top gainer with revenue valued at $138.02 million, an increase of 72.5 percent from $80.00 million recorded during the same month in 2009.
Ranked fourth in July 2010 and contributing 2.3 percent to the total export receipts was Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisting only of electrical wiring harness for motor vehicles) with revenue amounting to $102.96 million. This value was up by 64.4 percent from its year ago level of $62.62 million.
Woodcrafts and Furniture with 2.2 percent share to the total export receipts ranked fifth with value posted at $98.34 million or a 46.3 percent increase from $67.23 million registered in July 2009.
Rounding up the list of the top ten exports for the month of July 2010 were Other Products Manufactured from Materials Imported on Consignment Basis with export revenue of $67.17 million increased by 23.6 percent; Cathodes & Sections of Cathodes of Refined Copper with export earnings of $63.66 million and registering the highest increase among the top ten exports rose by 74.2 percent; Metal Components (excluding brakes and servo - brakes) with export receipts of $60.67 million expanded by 50.0 percent; Bananas (fresh) recorded sales amounting to $30.02 million decreased by 29.8 percent; and Tuna (including fresh, frozen, prepared or preserved in airtight containers) with proceeds billed at $28.61 million contracted by 17.8 percent.
Total receipts from the top ten exports reached $3.597 billion, or 79.9 percent of the total exports.
Fig. 1 Philippine Top Five Exports: July 2010 and 2009
(F.O.B. Value in Million US Dollars)
EXPORTS OF MANUFACTURED GOODS STOOD AT $3.945 BILLION
Accounting for 87.6 percent of the total receipts, outward shipments of Manufactured Goods in July 2010 reached $3.945 billion or a 40.0 percent increase from $2.817 billion recorded in the same period a year earlier. Month-on-month, it fell by 1.4 percent from $4.000 billion recorded in June 2010.
Income from Total Agro-Based Products comprising 6.0 percent of the total exports revenue in July 2010 grew by 16.7 percent to $272.37 million from $233.30 million in July 2009. Compared to its previous month level, it gained by 19.1 percent from $228.61 million posted in June 2010.
Earnings from Mineral Products with a share of 3.0 percent in July 2010 reached $134.51 million. It increased by 15.9 percent from $116.08 million in July 2009. However, export receipts from Special Transactions reflecting 2.7 percent share decline by 0.5 percent from $121.15 million in July 2009 to $120.54 million recorded in July 2010.
Petroleum Products with 0.6 percent share of the total exports rose by 26.8 percent to $28.54 million from $22.50 million in July 2009. Forest Products with less than 0.1 percent share of the total exports on the other hand, lowered by 42.4 percent from $2.92 million in July 2009 to $1.68 million in July 2010.
Fig. 2 Philippine Exports by Commodity Group: July 2010 and 2009
(F.O.B. Value in Million US Dollars)
EXPORTS TO SINGAPORE ACCOUNTED FOR 17.6 PERCENT
Singapore comprising 17.6 percent of the total exports for July 2010 emerged as the country's top destination of exports for July 2010 with revenue amounting to $793.74 million. It was higher by 275.4 percent from $211.44 million recorded a year ago.
United States of America (USA) including Alaska and Hawaii followed as the second top market of the country for July 2010 with export earnings of $719.35 million or 16.0 percent share of the total exports. The amount increased by 23.2 percent from $583.76 million reported a year earlier.
Japan including Okinawa representing a 12.7 percent of the total exports came in third with shipments amounting to $570.98 million. Compared to its July 2009 level, the amount increased by 3.7 percent from $550.86 million.
Hong Kong ranked fourth in July 2010 with $410.28 million or 9.1 percent share of the total exports, advanced by 58.0 percent from it's July 2009 level of $259.64 million.
Fifth in rank and accounting for 8.8 percent share of the total exports was People's Republic of China with export earnings worth $394.05 million or an increase of 73.4 percent from $227.18 million posted in July 2009.
Other top ten markets for July 2010 were Germany, $289.25 million; Netherlands, $215.27 million; Republic of Korea, $191.97 million; Malaysia, $155.65 million; and Thailand, $153.77 million.
Total export receipts from RP's top ten markets for the month of July 2010 amounted to $3.894 billion or 86.5 percent of the total.
Fig. 3 Philippine Top Exports by Country: July 2010
(F.O.B. Value in Million US Dollars)
EXPORTS FROM EASTERN ASIA WORTH $1.702 BILLION
Philippines total exports in July 2010 to Eastern Asia accounted for 37.8 percent of the county's total exports. It amounted to $1.702 billion or an increase of 29.3 percent from it's July 2009 level of $1.316 billion.
Exports to ASEAN member-countries representing 26.6 percent share of the total exports in July 2010 worth $1.199 billion, an annual positive growth of 102.1 percent from $593.41 million recorded in July 2009.
July 2010 total exports to European Union (EU) with a 15.2 percent contribution to total exports were valued at $684.39 million. It expanded by 15.4 percent from $593.19 million registered in July 2009.
Fig. 4 Philippine Exports by Selected Economic Bloc: July 2010 & 2009
(F.O.B. Value in Million US Dollars)
Notes:
1/ - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan
2/ - includes Brunei Darusalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, Vietnam
3/ - includes Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Latvia, and UK Great Britain & N. Ireland
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.
(Sgd.) CARMELITA N. ERICTA
Administrator
Source: Foreign Trade Statistics Section
Industry and Trade Statistics Department
National Statistics Office
Manila, Philippines
