EXPORTED GOODS DECREASE BY 13.0 PERCENT IN JULY 2016

The Philippines’ export   sales   amounted to $4.673 billion in July 2016, a 13.0 percent decrease from $5.371 billion recorded value in July 2015.  The decrease was attributed to eight major commodities out of the top ten export commodities for the month.  These include machinery and transport equipment (-36.8%); woodcrafts and furniture (-24.2%); other mineral products (-18.9%); chemicals (-18.7%); electronic products (-14.8%); articles of apparel and clothing accessories (-14.0%); ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (-1.8%); and metal components (-1.7%) (Table 1).

Furthermore, total merchandise exports for the period January to July 2016 registered  a  8.3  percent decrease  from  $34.372  billion  in  2015 to $31.505 billion in the same period of 2016 (Table 1a).

EXPORTS OF ELECTRONIC PRODUCTS WENT DOWN BY 14.8 PERCENT

Electronic Products remained as the country’s top export with total receipts of $2.400 billion, accounting for 51.4 percent of the total exports revenue in July 2016. It went down by 14.8 percent from $2.818 billion registered in July 2015.  Components/Devices (Semiconductors), with the biggest share of 36.3 percent among electronic products, however, decreased by 24.4 percent from $2.247 billion in July 2015 to $1.699 billion in July 2016.

Other Manufactures ranked second at $342.14 million or 7.3 percent share to the total export receipts. It recorded an increase of 7.7 percent from July 2015 value of $317.64 million.

Woodcrafts and Furniture was the third top export earner in July 2016 with export revenue of $224.92 million.  Export sales for this commodity group fell by 24.2 percent from $296.74 million in July 2015.

Machinery and Transport Equipment  ranked  fourth, with a contribution of 4.0 percent share to the total export receipts, recording sales of $187.74 million in July 2016.  It   registered  a  36.8  percent decrease from the previous year level of $296.87 million.

Ignition Wiring Set and Other Wiring Sets Used in  Vehicles, Aircrafts and Ships was recorded as the country’s fifth top export earner with value at $160.50 million or 3.4 percent share to total exports. It went down by 1.8 percent from $163.48 million in same period of 2015.

Rounding up the list of the top ten exports with corresponding export sales for the month of July 2016 were:

• Coconut Oil    with    $131.75 million grew by 42.6 percent.
• Chemicals with   $126.81 million, decreased   by   18.7 percent;
• Articles of Apparel and Clothing Accessories   with  $100.76 million, fell by 14.0 percent;
• Other Mineral Products   with  $96.77 million, went down by 18.9 percent; and
• Metal Components   with   $96.31 million, decelerated by 1.7 percent; 

Total receipts from the top ten exports decreased by 13.6 percent in 2016 and reached $3.868 billion or 82.8 percent of the total exports.

Outward shipments of Manufactured Goods were valued at $4.013 billion, accounting   for 85.9 percent of the total export receipts in July 2016.  It recorded a decrease of 13.0 percent from $4.615 billion recorded in July 2015 (Table 2). 

Exports from Total Agro-Based Products, with a 7.8 percent share to total exports in July 2016,    amounted to   $363.52 million.   It   reduced by 0.6 percent from $365.69 million in July 2015.

Merchandise exports from Mineral  Products, which shared 4.3 percent of   the   total  exports revenue, dropped by 12.2 percent from $228.71 million in July 2015 to $200.70 million in July 2016.

Special Transactions with a 1.6 percent  share to total exports, decreased by 4.3 percent to $76.59 million in July 2016 from $80.03 million in July 2015.

Petroleum Products, with 0.4 percent share, declined by 77.9 percent from $78.61 million in July 2015 to $17.35 million during the same month in 2016.

Moreover, sales from Forest Products, accounting for less than 0.1 percent share of the total    exports,    decreased   by   29.3 percent from $2.91 million in July 2015 to $2.06 million in same period of 2016.

Total export receipts from the country’s top ten market destinations for the month of July 2016 was valued at $3.963 billion, accounting for 84.8 percent share of the total export receipts (Table 3).  See Figure 4.

Japan including Okinawa remained as the country’s top export destination with revenue amounting to $909.56 million, comprising 19.5 percent share to total exports for July 2016.  It decreased by 14.4 percent from $1.063 billion recorded in the same month a year ago.

United States of America (USA) including Alaska and Hawaii ranked second, accounting 16.6 percent of total exports, with receipts valued at $777.30 million in July 2016. It recorded a decrease of 4.2 percent from $811.19 million in same month last year.

Hong Kong ranked third with $562.35 million or 12.0 percent share of the total exports.  It fell by 9.9 percent from $623.82 million recorded in the same month last year.

People’s Republic of China with 11.1 percent share to total exports, ranked fourth   with   shipments   valued   at   $520.93 million.  It went down by 6.5 percent from $557.00 million in same month a year ago.

Singapore placed fifth, representing a 6.7 percent share to total exports, with export earnings worth $311.34 million.  It decelerated by 15.0 percent from $366.34 million posted in July 2015.

Other top ten market destinations for July 2016 were: Germany, $213.06 million; Taiwan, $180.21 million; Netherlands, $169.68 million;  Thailand, $163.81 million; and Republic of Korea $154.67 million.

Exports to Other Countries which was valued at $710.28 million accounted for 15.2 percent of the total exports for the month of July 2016.  Among the Other Countries, Malaysia including Sabah and Sarawak recorded the highest at $99.23 million or 2.1 percent of the total exports.

Majority of the country’s merchandise exports in July 2016 went to countries in East Asia,   accounting for 49.9 percent share to total exports valued at $2.333 billion.  It decreased by 11.1 percent from $2.622 billion of July 2015.        

Commodities exported to ASEAN member countries comprised 14.5 percent of the total exports in July 2016 and was valued at $678.94 million. This registered a decrease of 25.9 percent from $915.71 million posted in same month a year ago.

Exports to European Union member countries, with 12.3 percent share to total merchandise exports amounted to $576.65 million.  It recorded a 6.1 percent decrement from $613.99 million recorded in July 2015 (Table 3a).

Technical Notes

Export trade statistics are compiled by the Philippine Statistics Authority (PSA) from copies of export declarations filed with the Bureau of Customs (BOC) by exporters or their authorized representatives as required by law. PSA collects a copy of the accomplished form Export Declaration (ED – DTI form).  Aside from the hard copy of the ED, the output of the Automated Export Documentation System (AEDS) is being utilized to generate export statistics. AEDS is a paperless transaction in lieu of the manual filling-up of export documents. The digitized copy of the AEDS is provided by BOC and PEZA to PSA on a monthly basis through email.

All documents (hard copies and e-files) received before the cut-off date which is every 25^th day of the month are compiled, processed and generated in a monthly statistical tables for the preparation of Press Release.  All documents received after the cut-off date, however, are processed and included in the generation of the revised statistical tables.  Processing includes coding, editing, review and validation.  Revised statistical tables are made available 10 to 15 working days after the press release date.

The Press Release is due every 10^th day of each month.  However, if the 10^th day falls on a Saturday, release will be on Friday but if it falls on a Sunday or Monday the release will be on Tuesday.  If the release date falls on holiday, the date of release is moved accordingly.

The 2004 Philippine Standard Commodity Classification (PSCC) is used to classify the commodities at the most detailed level for statistical purposes.

Data request of international merchandise trade statistics are available at Philippine Statistics Authority, Economic Sector Statistics Service, Trade Statistics Division (Telephone Number: 376-19-75).

FOR THE NATIONAL STATISTICIAN: