Merchandise Export Performance : June 2002

Reference Number: 

2002-102

Release Date: 

Monday, August 5, 2002

 

MERCHANDISE EXPORTS REGISTERED 12.3 PERCENT INCREASE

Registered earnings for June 2002 increased by 12.3 percent to $2.894 billion from $2.578 billion during the same month a year ago.

Receipts from merchandise exports for January to June 2002 went up by 4.3 percent to $16.668 billion from $15.988 billion during the same period in 2001.

ELECTRONIC COMPONENTS INCREASED BY 16.4 PERCENT

Receipts from Electronic Components, accounting for 55.2 percent of the aggregate export revenue for the month, went up by 16.4 percent to $1.597 billion from $1.372 billion last year.

Articles of Apparel and Clothing Accessories remained as the country�s second top earner with a combined share of 7.5 percent and an aggregate receipt of $215.93 million or 3.7 percent higher than $208.14 million a year earlier.

Metal Components ranked third with a total revenue of $37.07 million reflecting a 23.5 percent increase from $30.02 million last year.

Other Products Manufactured from Materials Imported on Consignments Basis ranked fourth with sales amounting to $35.85 million or a year-on-year increase of 12.4 percent from $31.89 million.

Revenue from Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships rose by 16.7 percent to $35.55 million from $30.46 million during the same month of 2001.

Rounding up the list of the top exports for the month of June 2002 were: Woodcrafts and Furniture, $33.07 million; Bananas (Fresh), $30.67 million; Coconut Oil, $30.38 million; Petroleum Products, $17.47 million; and Tuna, $15.89 million.

Aggregate receipts for the top ten exports amounted to $2.049 billion, or 70.8 percent of the total exports.

Fig. 1. Philippine Top Exports in June: 2001 & 2002
( F.O.B. Value in Million US Dollar )

MANUFACTURED GOODS INCREASED BY 13.2 PERCENT

Accounting for 89.8 percent of the total receipts, exports of Manufactured Goods increased by 13.2 percent as sales reached $2.598 billion, from $2.295 billion during the same period a year earlier.

Income from Agro-Based Products reached $131.69 million or 4.6 percent of the total export revenue. Compared to last year, aggregate revenue for this commodity group rose by 8.5 percent from $121.38 million.

Special Transactions increased by 6.7 percent to $104.59 million from $98.07 million, while receipt from exports of Mineral Products decreased by 11.9 percent to $39.70 million from $45.05 million.

Petroleum Products contributed $17.47 million, while Forest Products posted $2.78 million dollars.

Fig. 2. Philippine Exports by Commodity Group in June: 2001 & 2002
( F.O.B. Value in Million US Dollar )

EXPORTS TO US ACCOUNTED FOR 25.9 PERCENT

Accounting for 25.9 percent of the country's aggregate receipts for the month, exports to the United States valued at $749.12 million, decreased by 2.5 percent from last year's reported figure of $768.23 million.

Japan followed with a 15.4 percent share. Valued at $446.14 million, exports to Japan went up by 3.4 percent from $431.41 million.

Netherlands accounted for 10.2 percent of the total receipts, at $295.29 million reflecting a 42.5 percent increase from $207.19 million a year earlier.

Singapore emerged as the fourth biggest market for the month as shipments of local goods amounted to $195.11 million or 6.7 percent of the total. Compared to the same month last year figure, receipts went up by 7.9 percent from $180.89 million. Other top markets for June 2002 were: Taiwan, $183.04 million; Hongkong, $163.96 million; Malaysia, $143.38 million; Germany, $117.12 million;, Republic of Korea, $98.62 million; and People's Republic of China, $91.07 million.

Total export receipts from RP's top ten markets amounted to $2.483 billion or 85.8 percent of the total.

Fig. 3. Philippine Top Exports by Country in June, 2002
( F.O.B. Value in Million US Dollar )

Source: National Statistics Office
              Manila, Philippines

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