EXPORTED COMMODITIES IN JUNE 2015 DECLINED BY 3.3 PERCENT

The country’s export revenues totaled $5.281 billion in June 2015, a 3.3 percent decline from $5.462 billion recorded value in June of 2014.  The negative growth was mainly brought about by the decrease of six major commodities out of the top ten commodities for the month.  These include other mineral products; articles of apparel and clothing accessories; chemicals; machinery & transport equipment; ignition wiring set and other wiring sets used in vehicles, aircrafts and ships; and other manufactures (Table 1).

Cumulative    merchandise   exports   for  the first semester of 2015 registered a 4.7 percent decrease, that is from $30.233 billion in 2014 to $28.804 billion in same period of 2015 (Table 1a).

ELECTRONIC PRODUCTS INCREASED BY 9.5 PERCENT

Electronic Products remained as the country’s top export with total receipts of $2.438 billion, accounting for 46.2 percent of the total exports revenue in June 2015. It increased by 9.5 percent from $2.227 billion registered in June 2014.  Components/Devices   (Semiconductors),   had   the   biggest   share  of 33.3 percent among electronic products and grew by 16.9 percent to $1.756 billion in June 2015 from  $1.503 billion in June 2014.

Other Manufactures, with 10.2 percent share to the total export receipts, ranked second with value posted at $536.15 million. This recorded a decrease of 1.6 percent from June 2014 value of $544.93 million.

Machinery and Transport Equipment was the third top export earner in June 2015    with    export   revenue   of  $367.53 million, declined by 5.8 percent from $390.23 million in June 2014.

Woodcrafts   and   Furniture   ranked   fourth,   with  sales amounting to $318.72 million in June 2015, contributing 6.0 percent share to the total export receipts. This   registered   a   25.8 percent positive growth from the previous year level of $253.36 million.

Other Mineral Products was recorded as the country’s fifth top export with revenue valued at $198.63 million or 3.8 percent share to total exports. It contracted by 38.2 percent from $321.35 million in same period of 2014.

Rounding up the list of the top ten exports for the month of June 2015 were: Ignition Wiring Set and Other Wiring Sets Used in  Vehicles, Aircrafts and Ships with export earnings of $147.77 million, went down by 5.2 percent;   Chemicals with export receipts of $122.06 million, dropped by 17.0 percent; Articles of Apparel and Clothing Accessories with proceeds billed at $111.88 million, declined by 29.5 percent; Copper Concentrates with export receipts of $105.54 million, rose by 295.7 percent and registered the highest year-on-year increase among the top ten exports  during   this   period; and Coconut oil with total receipts of $102.55 million, increased by 3.9 percent.

Total receipts from the top ten exports reached $4.449 billion, or 84.2 percent of the total exports.

EXPORTS OF MANUFACTURED GOODS ROSE BY 3.4 PERCENT

Outbound shipments of Manufactured Goods were valued at $4.462 billion, accounting    for   84.5   percent   of   the total export receipts in June 2015.  It rose by 3.4 percent from $4.316 billion recorded in June 2014 (Table 2). 

Mineral  Products  which  registered   a   6.9   percent  share, decreased by 26.2 percent from $496.58 million in June 2014 to $366.43 million in June 2015.

Receipts from Total Agro-Based Products, with a share of 6.6 percent in June 2015, amounted to $347.91 million.  It dropped by 24.9 percent from $463.32 million in June 2014.

Merchandise exports from Special Transactions, which comprised 1.4 percent share   of   the   total  exports revenue in June 2015.  This registered a contraction of 59.8 percent from $179.25 million of previous level to $72.13 million in June 2015. 

Petroleum Products   with   0.6 percent share, remarkably increased by 48,988.6 percent to $30.05 million in June 2015 from $61.22 thousands in same month of 2014.

Moreover, sales from Forest Products which accounted for 0.1 percent share of the   total   exports,  decelerated by 56.7 percent from $6.70 million in June 2014 to $2.90 million reported value in same period of 2015.

JAPAN ACCOUNTED FOR 23.4 PERCENT TO TOTAL EXPORTS

Japan including Okinawa remained as the country’s top destination of exports with revenue amounting to $1.234 billion, comprising 23.4 percent share to total exports for June 2015.  It increased by 29.0 percent from $956.14 million recorded value in same month a year ago.

United States of America (USA) including Alaska and Hawaii ranked second, accounting 13.6 percent to total exports, with export receipts valued at $720.35 million in June 2015. This recorded a decline of 4.3 percent from $752.39 million in same month last year.

People’s Republic of China with 11.4 percent share to total exports, ranked third   with   shipments   valued   at   $600.92  million   in June 2015.  It went down by 30.2 percent from $861.28 million in same month a year ago.

Hong Kong ranked fourth in June 2015 with $539.79 million or 10.2 percent share of the total exports.  It rose by 10.7 percent from $487.74 million year ago level.

Republic of Korea placed fifth, representing a 6.8 percent share to total exports, with   export earnings worth $357.85 million.  It accelerated by 67.2 percent from $214.08 million posted in June 2014.

Other   top   ten   market   destinations   for  June 2015 were: Singapore, $313.94 million; Germany,   $199.56 million;   Thailand,   $179.38 million;  Taiwan, $163.10 million; and Netherlands, $161.62 million.

Total export receipts from the country’s top ten market destinations for the month of June 2015 was valued at $4.470 billion or 84.6 percent of the total (Table 3).

EXPORTS TO COUNTRIES IN EAST ASIA VALUED AT $2.900 BILLION

The bulk of the country’s merchandise exports in June 2015 were from countries in East Asia   which accounted for 54.9 percent share to total exports and valued at $2.900 billion.  It increased by 6.8 percent from $2.717 billion of June 2014 figure.        

Commodities exported to ASEAN member countries comprised 13.1 percent of the total exports in June 2015 and was valued at $690.47 million. This registered a decrease of 10.4 percent from $770.64 million posted in same month a year ago.

Exports to European Union member countries, with 11.7 percent share to total merchandise exports amounted to $616.41 million.  It increased by 10.1 percent from $559.69 million recorded in June 2014 (Table 3a).

Technical Notes:

1.) Starting with the June 2007 Press Release, analysis and tables are based on the 2004 Philippine Standard Commodity Classification (PSCC) groupings.  This is in compliance with   the former NSCB   Resolution No. 03, Series of 2005 entitled “Approving and Adopting the 2004 Philippine Standard Commodity Classification” by all concerned government agencies and instrumentalities.

2.) Starting 2014 export revised FOB value, all transactions that pass through all Value Added Service Providers (VASPs) of Bureau of Customs (BOC) and Philippine Economic and Zone Authority (PEZA) were included.  Physical export declaration and electronic data files were the basis of export statistics.

(Sgd.)  LISA GRACE S. BERSALES, Ph. D.

National Statistician