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

JUNE 2009 MERCHANDISE EXPORTS POSTED  24.7 PERCENT DECLINE

Export earnings in June 2009 dropped by 24.7 percent to $3.410 billion from $4.527 billion reported in June 2008.  Compared to previous months level, however, it grew by 10.4 percent from $3.088 billion in May 2009.  Aggregate merchandise exports from January to June 2009, on the other hand, declined by 32.8 percent to $17.225 billion from $25.623 billion registered during the same six-month period in 2008.

ELECTRONIC PRODUCTS DROPPED BY 26.0 PERCENT

Accounting for 57.1 percent of the total export revenue in June 2009, Electronic Productsamounted to $1.948 billion. It was lower by 26.0 percent from $2.632 billion recorded in June 2008.  The decline can be attributed to the 29.1 percent  annual decrease in theComponents/Devices (Semiconductors) which comprised 39.3 percent of the total exports and the biggest share among the major groups of electronic products.   However, month-on-month, it increased by 7.6 percent from $1.811 billion  in May 2009.

Articles of Apparel and Clothing Accessories representing 4.1 percent share of total exports in June 2009 emerged as RPs second top earner with revenue valued at $138.88 million or a negative growth of 19.4 percent over last years figure of $172.28 million.   

Woodcrafts and Furniture followed as the third top earner in June 2009 with total export earnings of $84.59 million or a share of 2.5 percent to the total export receipts.  It  fell by 23.6 percent from $110.72 million in June 2008.

Ranked fourth in June 2009 and contributing 2.1 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 $70.26 million. This value decreased by 10.3 percent from its year ago level of  $78.33 million.

Cathodes and Sections of Cathodes, of Refined Copper with 2.0 percent share to the total export receipts ranked fifth with value posted at $69.29 million or 43.3 percent decrease from  $122.16 million in June 2008.

Rounding up the list of the top ten exports for the month of June 2009 were Other Products Manufactured from Materials Imported on Consignment Basis with export receipts amounting to $61.66 million and the only commodity group that exhibited a positive annual growth of 33.5 percent for June 2009; Coconut Oil (including crude and refined) with export earnings of $61.07 million contracted by 52.7 percent; Petroleum Products (including refined petroleum products, manufactured from crude petroleum oil imported on consignment basis) with proceeds billed at $43.24 million and exhibited the highest year-on-year negative growth of 68.5 percent among the top ten exports in June 2009; Metal Components (excluding brakes and servo  brakes) with sales amounting to $37.51 million fell by 29.7 percent; and Bananas (Fresh) with export revenue of $33.59 million declined by  3.4 percent from its June 2008 level. 

Total receipts from the top ten exports reached $2.548 billion, or 74.7 percent of the total exports.

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

EXPORTS OF MANUFACTURED GOODS STOOD AT $2.933 BILLION

Accounting for 86.0 percent of the total receipts, outward shipments of Manufactured Goods in June 2009 reached $2.933 billion or a 22.1 percent decrease from $3.767 billion recorded in the same period a year earlier. On the other hand,  it went up by 11.2 percent from $2.637 billion compared to May 2009.  

Income from Total Agro-Based Products comprising 5.5 percent of the total exports revenue in June 2009 plunged by 32.3 percent to $188.07 million from $277.62 million in June 2008.

Earnings from Mineral Products with a share of 3.3 percent in June 2009 reached $113.64 million, reflecting a 47.5 percent decline from $216.31 million in June 2008.  However, export receipts from Special Transactions with a share of 3.7 percent slightly went up by 2.8 percent to $127.59 million from $124.10 million in June 2008.

Exports revenue of Petroleum Products with 1.3 percent share of the total exports dropped by 68.5 percent to $43.24 million from $137.28 million recorded in June 2008. Similarly,  Forest Products with 0.1 percent share of the total exports in June 2009 shrunk by 20.5 percent to $3.86 million from $4.85 million posted in June 2008.

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

EXPORTS TO UNITED STATES ACCOUNTED FOR 17.8 PERCENT

United States of America (USA) including Alaska and Hawaii, comprising 17.8 percent of the total exports for June 2009 emerged as the countrys top destination of exports for June 2009 with revenue amounting to $607.97 million. It was lower by 13.5 percent from $702.67 million recorded a year earlier.

Japan including Okinawa, followed as the second top market of the country for June 2009 with export earnings of $578.64 million or 17.0 percent share of the total exports. The amount  declined by 12.5 percent from $661.30 million reported in June 2008.

Netherlands came in third with shipments amounting to $290.63 million and representing 8.5 percent of the total exports. The amount  went down by 19.7 percent  from its year ago level of $361.70 million.

Peoples Republic of China ranked fourth in June 2009 with $274.35 million or 8.1 percent of the total exports down by 44.2 percent from $491.41 million recorded in June 2008.

Fifth in rank and accounting for 7.5 percent share from the total exports was Hong Kong with revenue amounting to $256.69 million or a year-on-year decrease of 41.2 percent from $436.25 million.

Other top ten markets for June 2009 were Singapore, $248.97 million; Germany, $202.96million; Republic of Korea, $173.40 million; Taiwan, $118.18 million; and Malaysia (including Sabah and Sarawak), $114.84 million.

Total export receipts from RPs top ten markets for the month of June 2009 amounted to $2.867 billion or 84.1 percent of the total.

Fig. 3  Philippine Top Exports by Country: June 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