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

June 2007 MERCHANDISE EXPORTS INCREASE BY 1.6 PERCENT

Export earnings in June 2007 slightly went up by 1.6 percent to $4.120 billion from $4.055 billion in June 2006. Similarly, receipts from merchandise exports during January to June increased by 6.6 percent to $24.540 billion from $23.013 billion during the same six-month period in 2006.

ELECTRONIC PRODUCTS DECREASE BY 1.7 PERCENT

Accounting for 59.8 percent of the aggregate export revenue in June, Electronic Products went down by 1.7 percent to $2.464 billion from $2.507 billion in June 2006.  However, export receipts of the Electronic Products for January to June still posted a positive growth of 6.3 percent to $15.453 billion from $14.532 billion during the same six-month period in 2006.  The decline in the June export receipts is due to the decrease in the outward shipments of electronic data processing and telecommunication products.

Articles of Apparel and Clothing Accessories remained to be the countrys second top earner with a combined share of 4.5 percent and an aggregate receipt of $186.60 million or 19.5 percent lower than $231.71 million in June 2006.

Petroleum Products ranked third with total revenue of $138.71 million, posting a double-digit increase of 65.1 percent from $84.01 million in June 2006.

Woodcrafts and Furniture ranked fourth with sales amounting to $86.27 million or a growth of 20.0 percent from $71.87 million in June 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 $70.50 million or a year-on-year growth of 26.3 percent from $55.81 million in June 2006.

Rounding up the list of the top exports for the month of June 2007 were Cathodes and Sections of Cathodes of Refined Copper with an export value of $62.12 million, down by 48.6 percent;Coconut Oil, $57.00 million or a growth of 88.2 percent; Other Products Manufactured from Materials Imported on Consignment Basis, $52.34 million or a decrease of 2.8 percent; Metal Components with proceeds billed at $34.50 million or a growth of 28.2 percent; and Bananas(Fresh), with export revenue of $34.18 million or 8.4 percent decline from the same month in 2006.

Total receipts from the top ten exports reached $3.186 billion, or 77.4 percent of the total exports.

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

EXPORTS OF MANUFACTURED GOODS UP BY 1.9 PERCENT

Accounting for 84.3 percent of the total receipts, export of Manufactured Goods was $3.473 billion, or a 1.9 percent growth from $3.408 billion in June 2006.  

Earnings from Mineral Products reached $206.35 million or 5.0 percent share of the total export revenue, recording a growth of 9.5 percent from $188.44 million in June 2006.

Income from All Agro-Based Products increased by 16.2 percent to $182.41 million from $156.94 million in June 2006, with coconut products posting the highest growth of 60.6 percent

Petroleum Products, on the other hand, registered a growth of 65.1 percent to $138.71 million from $84.00 million in June 2006.  Similarly, total export receipts for Petroleum Products during January to June 2007 increased by 6.5 percent to $469.04 million from $440.52 million during the same six-month period in 2006. 

Receipts from exports of Special Transactions posted a negative growth of 45.4 percent to $117.00 million from $214.11 million in June 2006.

Meanwhile, exports revenue of Forest Products shrank by 45.3 percent to $1.91 million from $3.50 million in June 2006.  However, receipts during January to June for Forest Productsregistered a growth of 54.9 percent to $17.75 million from $11.45 million during the same six-month period in 2006.

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

EXPORTS TO UNITED STATES ACCOUNT FOR 17.1 PERCENT

United States of America (USA) still the top market of the country for June with export receipts of $702.69 million, accounting for 17.1 percent of the countrys aggregate income for the month or an increase of 0.4 percent from $700.22 million in June 2006.

Japan followed with earnings of $633.77 million or a 15.4 percent share of the total exports for the month which resulted to a negative growth of 22.5 percent from $817.21 million in June 2006.

Peoples Republic of China emerged as the third biggest market for the month with shipments amounting to $449.21 million or 10.9 percent of the total, up by 12.3 percent from its year-ago level of $400.17 million.

Hong Kong, with $394.21 million or 9.6 percent of the total revenue, reflected a 19.4 percent increase from $330.04 million in June 2006.

Other top markets for June 2006 were Netherlands, $318.10 million; Singapore, $279.65 million; Germany, $222.56 million; Malaysia, $221.20 million; Taiwan, $163.37 million; andRepublic of Korea, $143.82 million.

Total export receipts from RPs top ten markets for the month of June 2007 amounted to $3.529 billion or 85.7 percent of the total.

Fig. 3  Philippine Exports by Top Markets : June 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