Merchandise Export Performance : March 2002

Reference Number: 


Release Date: 

Friday, May 3, 2002



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.


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 )


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 )


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