Merchandise Export Performance : May 2002

Reference Number: 


Release Date: 

Thursday, July 4, 2002



Registered earnings for May 2002 increased by 12.2 percent to $2.917 billion from $2.600 billion during the same month a year earlier.

Receipts from merchandise exports for January to May 2002 went up by 2.7 percent to $13.774 billion from $13.410 billion during the same period in 2001.


Receipts from Electronic Components, accounting for 57.0 percent of the aggregate export revenue for the month, rose by 24.2 percent to $1.662 billion from $1.338 billion last year.

Articles of Apparel and Clothing Accessories remained as the country's second top earner with a combined share of 6.0 percent and an aggregate receipt of $174.4 million or 9.5 percent lower than $192.8 million a year earlier.

Woodcrafts and Furniture, ranked third with a total revenue of $41.13 million reflecting a 43.8 percent increase from $28.60 million last year.

Metal Components ranked fourth with sales amounting to $37.97 million or a year-on-year decline of 3.9 percent from $39.51 million.

Revenue from Other Products Manufactured from Materials Imported on Consignments Basis increased by 3.2 percent to $37.80 million from $36.62 million during the same month of 2001.

Rounding up the list of the top exports for the month of May 2002 were: Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships, $37.27 million; Bananas (Fresh), $27.78 million; Coconut Oil, $27.74 million; Petroleum Products, $27.11 million; and Cathodes and Sections of Cathodes, of Refined Copper, $23.12 million.

Aggregate receipts for the top ten exports amounted to $2.096 billion, or 71.9 percent of the total exports.

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


Accounting for 89.9 percent of the total receipts, exports of Manufactured Goods increased by 14.8 percent as sales reached $2.623 billion, from $2.285 billion during the same period last year.

Income from Agro-Based Products, combined for $117.03 million or 4.0 percent of the total export revenue. Compared to last year, aggregate revenue for this commodity group fell by 11.5 percent from $132.22 million.

Special Transactions dropped by 7.6 percent to $104.69 million from $113.35 million, while receipt from exports of Mineral Products decreased by 20.3 percent to $42.75 million from $53.67 million.

Petroleum Products contributed $27.11 million, while Forest Products posted $2.62 million dollars.

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


Accounting for 24.5 percent of the country's aggregate receipts for the month, exports to the United States valued at $714.11 million, increased by 3.4 percent from last year's reported figure of $690.48 million.

Japan followed with a 15.3 percent share. Valued at $446.72 million, exports to Japan went up by 6.0 percent from $421.50 million.

Netherlands accounted for 9.4 percent of the total receipts, at $273.03 million reflecting a 9.0 percent decline from $300.14 million a year earlier.

Singapore emerged as the fourth biggest market for the month as shipments of local goods amounted to $222.23 million or 7.6 percent of the total. Compared to the same month last year figure, receipts went up by 33.0 percent from $167.06 million. Other top markets for May 2002 were: Taiwan, $208.13 million; Hongkong, $172.17 million; Malaysia, $149.93 million; Germany, $144.64 million;, People's Republic of China, $106.34 million; and Republic of Korea, $97.63 million.

Total export receipts from RP's top ten markets amounted to $2.535 billion or 86.9 percent of the total.

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

Source: National Statistics Office
              Manila, Philippines