EXPORTS NEARS $2.0 BILLION MARK, GROWS BY 19.5 PERCENT

Merchandise exports reached $1.996 billion in March, posting a 19.5 percent growth rate or an increase of $326 million over $1.671 billion last year.

For the first quarter of 1997, total receipts rose by 17.4 percent to $5.501 billion from $4.685 billion recorded a year earlier. The increase translates to an additional dollar inflow of $816.0 million.

ELECTRONICS AND COMPONENTS CONTINUE TO LEAD TOP EARNERS

Electronics and Components continued to show the way among the major exports. Accounting for 43.1 percent of the aggregate revenue, actual payments received grew by 30.8 percent to $860.94 million from $657.98 million last year.

Articles of Apparel and Clothing Accessories, reporting a total income of $193.37 million or 1.4 percent lower than $196.20 million last year was the second biggest earner for the month with a 9.7 percent share.

Input/Output Peripheral Units, the third biggest with a 6.3 percent share, reported shipments valued at $126.06 million. Compared to last year, this increased by 514.6 percent from $20.51 million last year.

Ignition Wiring Sets and Other Wiring Sets Used in Vehicles, Aircrafts and Ships earned $45.29 million or 25.1 percent higher than $36.20 million last year and was fourth biggest earner.

Woodcraft and Furniture followed with sales valued at $41.89 million or 13.4 percent higher than $36.94 million a year earlier.

At sixth was Coconut Oil which earned $33.04 million and recorded a 39.3 percent decline from $54.45 million last year.

Other major exports for the month were: Other Products Manufactured from Materials Imported on Consignment Basis, $32.16 million; Metal Components, $24.07 million; Cathodes and Sections of Cathodes, of Refined Copper, $20.81 million; and Gold, $19.12 million.

Combined dollar earnings from the top ten merchandise exports for March 1997 amounted to $1,396.75 million or 70.0 percent of the total.

EXPORTS OF MANUFACTURES GREW BY 26.7 PERCENT

Value of manufactured goods exported, which accounted for 86.7 percent of the total, went up by 26.7 percent to $1.731 billion from $1.366 billion last year.

Agro-Based Products, notably that of Coconut, combined for $98.07 million, representing a 12.6 percent drop from $112.15 million in 1996. Other agro-based products brought in sales of $48.51 million, up by 5.7 percent from $45.90 million last year.

Mineral Products made up 2.9 percent of the aggregate value. Actual receipts dropped by 36.8 percent to $58.23 million from $92.13 million in 1996.

EXPORTS TO THE US POST 23.8 PERCENT GAIN

With purchases amounting to $685.47 million or 34.3 percent of the total, the United States remained as the top market with receipts posting a 23.8 percent growth from $553.79 million last year.

Slipping by 3.1 percent to $343.13 million from $354.14 million a year ago, Japan cornered 17.2 percent of the aggregate exports revenue for March 1997.

Netherlands, with heavy purchases of Electronics and Components, remained as the third biggest market with total exports valued at $139.71 million increasing by 144.9 percent over $57.05 million in 1996. This value represented 7.0 percent of the aggregate merchandise exports.

Singapore, accounting for 6.3 percent of the gross export revenue, bought $125.03 million worth of merchandise exports or 23.8 percent higher than $101.03 million last year.

Rounding up the list of the top ten markets for March were: Hongkong, $94.81 million; Taiwan, $90.20 million; Thailand, $76.98 million; Germany, $70.47 million; United Kingdom of Great Britain, $68.93 million; and, Malaysia, $49.37 million.

Aggregate receipts from these top ten markets amounted to $1,744.10 million or 87.4 percent of the total.