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Release Date :
Reference Number :
2009-036

MERCHANDISE EXPORT PERFORMANCE *
March 2009

( Preliminary )

* Includes transactions that passed through Automated Export Documentation System (AEDS).

p - preliminary
r - revised

MARCH 2009 MERCHANDISE EXPORTS FELL BY 30.9 PERCENT

Export earnings in March 2009 dropped by 30.9 percent to $2.904 billion from $4.200 billion registered in March 2008. Compared with the previous month�s level, it climbed to 15.9 percent from $2.506 billion after exhibiting five consecutive months of negative growth since October 2008. Meanwhile, aggregate merchandise exports from January to March 2009 declined by 36.8 percent to 7.921 billion from 12.543 billion reported a year earlier during the same three-month period.

ELECTRONIC PRODUCTS DOWN BY 33.9 PERCENT

Accounting for 55.8 percent of the total export revenue in March 2009, Electronic Products amounted to $1.620 billion. It went down by 33.9 percent from $2.448 billion in March 2008, which can be attributed to the 36.5 percent decrease in the Components/Devices (Semiconductors) comprising the biggest share of 40.4 percent among the major groups of electronic products. However, month-on-month, it rose by 19.9 percent from $1.351 billion recorded in February 2009.

Articles of Apparel and Clothing Accessories representing 4.6 percent share of total exports continued to be the RP's second top earner in March 2009 with value posted at $134.81 million or a negative growth of 19.2 percent over last year�s figure of $166.88 million.

Woodcrafts and Furniture followed as the third top earner in March 2009 with total revenue of $85.81 million or a share of 3.0 percent to the total export receipts. It fell by 20.4 percent from $107.79 million in March 2008.

Ranked fourth in March 2009 and contributing 1.8 percent to the total export receipts was Cathodes and Sections of Cathodes, of Refined Copper with sales amounting to $52.21 million. This value decelerated by 45.0 percent from $94.98 million recorded a year earlier.

Other Products Manufactured from Materials Imported on Consignment Basis with 1.8 percent share to the total export receipts ranked fifth with revenue amounting to $51.26 million. It was lower by 23.8 percent from $67.27 million recorded in March 2008.

Rounding up the list of the top ten exports for the month of March 2009 were Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisting only of electrical wiring harness for motor vehicles) with receipts of $39.89 million down by 53.7 percent; Gold (extracted from copper ores and concentrates) with export earnings of $39.33 million rose by 8.6 percent and showed a positive growth among the top ten exports; Coconut Oil (including crude and refined) valued at $32.69 million representing the highest year-on-year negative growth of 60.0 percent; Metal Components (excluding brakes and servo - brakes) with proceeds billed at $30.82 million or a decrease of 34.1 percent; and Tuna (includes fresh, frozen, prepared or preserved in airtight containers) with export revenue of $29.49 million showing a positive growth inched up by 7.3 percent from March 2008 level.

Total receipts from the top ten exports reached $2.116 billion, or 72.9 percent of the total exports.

Fig. 1 Philippine Top Five Exports: March 2009 and 2008
(F.O.B. Value in Million US Dollars)

EXPORTS OF MANUFACTURED GOODS STOOD AT $2.504 BILLION

Accounting for 86.2 percent of the total receipts, outward shipments of Manufactured Goods in March 2009 reached $2.504 billion or a 30.1 percent down from $3.581 billion recorded in the same period a year earlier. However, compared with the previous month�s level, it gained by 15.9 percent from $2.161 billion.

Income from All Agro-Based Products comprising 5.2 percent of the total exports revenue in March 2009 shrank by 25.8 percent to $150.72 million from $203.21 million in March 2008.

Earnings from Mineral Products with a share of 4.3 percent in March 2009 reached $126.06 million, reflecting a 35.8 percent drop from $196.42 million in March 2008. Similarly, export receipts from Special Transactions with a share of 3.9 percent went down by 11.7 percent to $112.80 million from $127.73 million in March 2008.

Accounting for a 0.3 percent share of the total exports revenue in March 2009 was Petroleum Products with receipts amounting to $7.84 million dropped by 91.2 percent from $89.57 million recorded in March 2008. On the other hand, exports revenue of Forest Products with 0.1 percent share of the total, showed an increase of 28.3 percent to $2.33 million from $1.82 million posted in March 2008.

Fig. 2 Philippine Exports by Commodity Group: March 2009 and 2008
(F.O.B. Value in Million US Dollars)

EXPORTS TO UNITED STATES OF AMERICA ACCOUNTED FOR 17.3 PERCENT

United States of America (USA) including Alaska and Hawaii, remained to be the country's top destination of exports for March 2009 with export receipts of $503.27 million and accounting for 17.3 percent of RP's aggregate income for the month. It was lower by 26.5 percent from $684.33 million recorded a year earlier.

Japan (includes Okinawa) followed as the second top market of the country for March 2009 with export earnings of $446.74 million or 15.4 percent share of the total exports. The value declined by 37.6 percent from $716.11 million in March 2008.

People�s Republic of China emerged as RP's third biggest market for March 2009 with shipments amounting to $307.86 million and representing 10.6 percent of the total exports. The amount went down by 43.9 percent from a year ago level of $549.18 million.

Hongkong ranked fourth in March 2009 with $272.79 million or 9.4 percent of the total exports. It showed a negative growth of 35.6 percent from $423.46 million recorded in March 2008.

Fifth in rank and accounting for 9.2 percent share from the total exports was Netherlands with revenue amounting to $265.89 million or a year-on-year decrease of 4.9 percent from $279.66 million.

Other top ten markets for March 2009 were Republic of Korea, $156.42 million; Germany, $136.78 million, Singapore $128.51 million; Malaysia, $108.98 million and Taiwan, $97.05 million.

Total export receipts from RP's top ten markets for the month of March 2009 amounted to $2.424 billion or 83.5 percent of the total.

Fig. 3 Philippine Top Exports by Country: March 2009
(F.O.B. Value in Million US Dollars)

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

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