Merchandise Export Performance : March 2002

Reference Number: 

2002-051

Release Date: 

Friday, May 3, 2002

 

MERCHANDISE EXPORTS REGISTER 0.7 PERCENT DECREASE

Reported earnings for March 2002 declined by 0.7 percent to $2.848 billion from $2.870 billion during the same month a year earlier.

Receipts from merchandise exports for January to March 2002 went down by 5.3 percent to $8.108 billion from $8.564 billion during the same period in 2001.

ELECTRONIC COMPONENTS DECLINE BY 3.9 PERCENT

Receipts from Electronic Components, accounting for 54.5 percent of the aggregate export revenue for the month, decreased by 3.9 percent to $1.553 billion from $1.617 billion last year.

Articles of Apparel and Clothing Accessories remained as the country�s second top earner with a combined share of 5.5 percent and an aggregate receipt of $156.84 million or 21.0 percent lower than $198.40 million a year ago.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships, ranked third with a total revenue of $50.70 million reflecting a 2.0 percent increase from $49.69 million last year.

Woodcrafts and Furniture ranked fourth with sales amounting to $38.51 million or a year-on-year increase of 11.1 percent from $34.67 million.

Revenue from Metal Components fell by 20.3 percent to $35.14 million from $44.12 million during the same month of 2001.

Rounding-up the list of the top exports for the month of March 2002 were: Other Products Manufactured from Materials Imported on Consignments Basis, $29.61 million; Coconut Oil, $26.95 million; Bananas (Fresh), $24.72 million; Petroleum Products, $20.32million; and Cathodes and Sections of Cathodes, of Refined Copper, $20.23 million.

Aggregate receipt for the top ten exports amounted to $1.956 billion, or 68.7 percent of the total exports.

Fig. 1. Philippine Top Exports in March : 2001 & 2002
( F.O.B. Value in Million US Dollar )

MANUFACTURED GOODS DECLINED BY 0.03 PERCENT

Accounting for 90.0 percent of the total receipts, exports of Manufactured Goods decreased by 0.03 percent as sales reached $2.562 billion, down from $2.563 billion during the same period last year.

Income from Agro-Based Products, combined for $128.68 million or 4.5 percent of the total export revenue. Compared to last year, aggregate revenue for this commodity group dropped by 5.7 percent from $136.47 million.

Special Transactions went down by 2.4 percent to $96.99 million from $99.34 million, while receipt from exports of Mineral Products decreased by 11.2 percent to $39.87 million from $44.89 million.

Petroleum Products contributed $20.33 million, while Forest Products registered $0.50 million dollars.

Fig. 2. Philippine Exports by Commodity Group in March: 2001 & 2002
( F.O.B. Value in Million US Dollar )

EXPORTS TO US ACCOUNT FOR 25.2 PERCENT

Accounting for 25.2 percent of the country�s aggregate receipts for the month, exports to the United States valued at $716.72 million, decreased by 6.7 percent from last year's reported figure of $768.07 million.

Japan followed with a 15.1 percent share. Valued at $431.24 million, exports to Japan went down by 14.0 percent from $501.41 million.

Netherlands accounted for 8.0 percent of the total receipt, at $226.49 million reflecting a 6.0 percent reduction from $240.95 million a year earlier.

Taiwan emerged as the fourth biggest market for the month as shipments of local goods amounted to $219.88 million or 7.7 percent of the total. Compared to the same month last year figure, receipts went up by 16.3 percent from $189.03 million. Other top markets for March 2002 were: Singapore, $210.65 million; Hongkong, $185.64 million; Republic of Korea, $132.92 million; Malaysia, $117.09 million;, Germany, $109.99 million; and People�s Republic of China, $88.09 million.

Total export receipts from RP�s top ten markets amounted to $2.439 billion or 85.6 percent of the total.

Fig. 3. Philippine Top Exports by Country in March, 2002
( F.O.B. Value in Million US Dollar )

Source: National Statistics Office
              Manila, Philippines

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