MERCHANDISE EXPORT PERFORMANCE *
June 2011
( Preliminary )
* Includes transactions that passed through Automated Export Documentation System (AEDS).
p - preliminary
r - revised
JUNE 2011 MERCHANDISE EXPORTS REGISTER 10.2 PERCENT DECLINE
Export earnings in June 2011 went down by 10.2 percent from $4.557 billion to $4.092 billion recorded during the same period of the previous year. Month-on-month, it fell by 0.4 percent from $4.108 billion in May 2011.
Total receipts from merchandise exports during January to June grew by 4.1 percent to $24.721 billion from $23.741 billion during the same period a year earlier.
ELECTRONIC PRODUCTS DROP BY 23.9 PERCENT
Accounting for 54.0 percent of the total exports revenue in June 2011, Electronic Products emerged as the country’s top export with total receipts of $2.211 billion. It decreased by 23.9 percent from $2.905 billion registered in June 2010. However, on a monthly basis, Electronic Products, expanded by 17.2 percent from $1.886 billion posted in May 2011.
Among the major groups of electronic products, Components/Devices (Semiconductors) got the major share with 36.0 percent to total exports, posting a negative annual growth at 35.8 percent from $2.294 billion in June 2010 to $1.471 billion.
Articles of Apparel and Clothing Accessories followed as the second top export earner in June 2011 with total receipts of $160.20 million or a share of 3.9 percent to total exports revenue. It grew by 5.1 percent from its June 2010 level of $152.38 million.
Woodcrafts and Furniture ranked third with sales amounting to $149.48 million or a 3.7 percent share to total exports. This value increased by 65.1 percent from $90.56 million recorded in June 2010.
Ranked fourth in June 2011 and contributing 2.6 percent share to total export receipts was Petroleum Products including refined petroleum products, manufactured from crude petroleum oil imported on consignment basis with earnings amounting to $106.38 million. This figure registered the highest positive annual growth among the top ten exports at 8.080.1 percent from its year ago level of $1.30 million.
Cathodes and Section of Cathodes, of Refined Copper with 2.3 percent share to total export receipts ranked fifth with value posted at $93.17 million or a 17.9 percent year-on-year growth from $79.04 million in June 2010.
Rounding up the list of the top ten exports for the month of June 2011 were: Coconut Oil, including crude and refined with export revenue of $67.42 million decelerated by 29.5 percent; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships consisting only of electrical wiring harness for motor vehicles with export earnings worth $64.40 million lowered by 31.7 percent; Metal Components excluding brakes and servo-brakes with export receipts of $59.01 million dropped by 10.4 percent Gold extracted from copper ores and concentrates with recorded sales amounting to $52.01 million grew by 253.6 percent; and Bananas (Fresh) with proceeds billed at $45.07 million was higher by 76.6 percent.
Total receipts from the top ten exports reached $3.008 billion, or 73.5 percent of the total exports.
EXPORTS OF MANU
Accounting for 82.1 percent of the total export receipts in June 2011, outward shipments of Manufactured Goods were estimated at $3.359 billion, representing a 16.0 percent decline from $4.000 billion recorded in June 2010. Month-on-month, however, it went up by 2.4 percent from $3.280 billion recorded in May 2011.
Income from Total Agro-Based Products comprising 6.5 percent share to total exports revenue in June 2011 rose by 16.4 percent to $267.74 million from $229.96 million in June 2010. On a monthly basis, it lessened by 21.1 percent from $339.54 million in May 2011.
Earnings from Mineral Products with a 5.7 percent share in June 2011 reached $231.30 million. It expanded by 30.3 percent from $177.54 million in June 2010. However, export receipts from Special Transactions reflecting 3.0 percent share to total exports diminished by 16.2 percent from $145.97 million posted in June 2010 to $122.39 million.
Petroleum Products accounting for 2.6 percent share to total exports revenue accelerated by 8,080.1 percent to $106.38 million from $1.30 million in June 2010. Similarly, Forest Products with 0.1 percent share rose by 188.4 percent to $5.23 million from $1.81 million in June 2010.
EXPORTS TO JAPAN ACCOUNT FOR 22.8 PERCENT
Japan including Okinawa comprising 22.8 percent share to total exports for June 2011 emerged as the country’s top destination of exports with revenue amounting to $932.24 million. It was higher by 41.1 percent from $660.65 million recorded a year ago.
United States of America (USA) including Alaska and Hawaii with 14.0 percent share to total exports followed as the second top market of the country for June 2011 with export earnings worth $572.28 million. This represents a decrease of 23.1 percent from $744.59 million reported a year earlier.
People’s Republic of China accounting for 11.8 percent share to total exports came in third with shipments amounting to $481.73 million. Compared to its level a year ago, it expanded by 18.8 percent from $405.58 million.
Singapore sharing 9.6 percent to total exports in June 2011 ranked fourth with $391.90 million, a 47.7 percent decline from $748.84 million in June 2010.
Fifth in rank and representing 6.9 percent share to total exports was Hong Kong with export earnings worth $283.32 million or a 30.3 percent drop from $406.31 million posted in June 2010.
Other top ten markets for June 2011 were Republic of Korea, $187.80 million (4.6%); Taiwan, $171.68 million (4.2%); Thailand, $149.87 million (3.7%); Germany, $145.10 million (3.6%); and Netherlands, $98.73 million (2.4%).
Total export receipts from the country’s top ten markets for the month of June 2011 amounted to $3.415 billion or 83.4 percent of the total.
EXPORTS TO EASTERN
The Philippines’ merchandise exports to Eastern Asia in June 2011 contributed 50.4 percent share to total exports, amounting to $2.062 billion or an increase of 13.2 percent from its June 2010 figure of $1.822 billion.
Exports to ASEAN member-countries accounting for 18.7 percent share to total merchandise exports in June 2011 reached $765.10 million, posting a negative annual growth rate of 31.4 percent from $1.115 billion recorded in June 2010.
Merchandise exports to European Union (EU), on the other hand, sharing 10.3 percent to total merchandise exports in June 2011 was valued at $421.35 million. This figure contracted by 36.9 percent from $667.74 million recorded in June 2010.
Notes:
1/ - includes China, Hong Kong, Japan, Macau, Mongolia, N, Korea, S. Korea, Taiwan
2/ - includes Brunei Darussalam, 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
