Merchandise Export Performance : May 2006  ( Preliminary )*

* Includes transactions that passed through Automated Export Documentation System (AEDS). 
p - preliminary 
r - revised

Merchandise exports up by 17.3 percent    

Export earnings in May 2006 grew by 17.3 percent to $3.877 billion from $3.305 billion during the same period of the previous year. The double-digit increment was noted since February of the current year.

Receipts from merchandise exports in January to May 2006 went up by 16.0 percent to $18.687 billion from $16.113 billion during the same period a year earlier.

Electronic products register 9.9 percent increase    

Electronic products, accounting for 59.1 percent of the aggregate export revenue in May, recorded an increase of 9.9 percent to $2.290 billion from $2.083 billion a year ago.  

Among the major groups of electronic products, components/devices (Semiconductors) got the major share with 44.5 percent to total exports. Semiconductors posted a positive growth at 10.8 percent to $1.724 billion from $1.555 billion during the same month in 2005. The other electronic products group that showed inceases were Electronic Data Processingt at 5.6 percent with a share of 10.9 percent, Automotive Electronics at 49.5 percent with a share of 0.97 percent, Telecommunication at 258.2 percent with a share of 0.63 percent, and Office Equipment at 45.5 percent with a share of 0.58 percent to total exports.

Articles of apparel and clothing accessories remained as the country’s second top earner with a combined share of 6.2 percent and an aggregate receipt of $238.61 million or 23.8 percent higher than $192.74 million a year ago. This was brought about by the bulk order of men's and women's wear, as well as trousers, breeches and short.

Cathodes and sections of cathodes, of refined copper, ranked third with total revenue of $106.59 million reflecting a 207.3 percent rise from $34.69 million during the same period of 2005.

Woodcrafts and furniture, ranked fourth with sales amounting to $84.35 million or a year-on-year increase of 125.7 percent from $37.37 million, resulting from higher demand in other builders' joinery and carpentry of wood and other wooden furniture parts. 

Revenue from coconut oil with a 1.7 percent share, registered a $65.07 million worth of exports from $60.24 million a year ago. Higher demand in the exportation of coconut (copra) oil, crude, mainly contributed the growth of 8.0 percent.  

Rounding up the list of the top exports for the month of May 2006 were other products manufactured from materials imported on consignment basis, with sales amounting to $58.98 million or an annual growth of 30.3 percent from $45.28 million; ignition wiring set and other wiring sets used in vehicles, aircrafts and ships (consists only of electrical wiring harness for motor vehicles), $57.68 million or a year-on-year decrease of 5.8 percent;petroleum products, with total revenue of $53.57 million or an annual increase of 21.4 percent. The growth in petroleum products can be attributed to the higher demand in fuel oils, petroleum naphtha and lubricating greases. Dollar inflow of bananas (fresh) amounted to $42.74 million and exportations of metal components, was valued at $24.89 million.

Total receipts from the top ten exports reached $3.022 billion, or 77.9 percent of the total exports.

Fig. 1  Philippine Top Exports: May 2006 and 2005
(F.O.B. Value in Million US Dollars)

Exports of manufactured goods increase by 15.4 percent

Accounting for 86.6 percent of the total receipts, exports of manufactured goods was $3.357 billion with a 15.4 percent growth from $2.909 billion during the same period of 2005.

Earnings from all agro-based products combined for $194.63 million or 5.0 percent of the total export revenue. Compared to last year, aggregate receipt for this commodity group moved up by 3.4 percent from $188.26 million.

Income from mineral products gained by 134.6 percent to $182.03 million from $77.60 million while receipts from exports of special transactions improved by 6.8 percent to $88.73 million from $83.10 million.

Petroleum products registered earnings of $53.57 million, while forest products contributed $1.17 million.

Fig. 2  Philippine Exports by Commodity Group: May 2006 and 2005
(F.O.B. Value in Million US Dollars)
 
 

Exports to United States account for 18.1 percent

Exports to United States valued at $703.45 million, accounted for 18.1 percent of the country's aggregate income for the month. Receipts picked up by 16.6 percent from last year's reported figure of $603.56 million. 

Japan followed with a 17.3 percent share. With earnings of $672.18 million, exports to Japan grew  by 23.3 percent from $545.22 million.

Singapore emerged as the third biggest market for the month as shipments of local goods amounted to $351.24 million or 9.1 percent of the total. Exports gained by 49.3 percent from $235.29 million compared to the same period of 2005.

People's Republic of China accounted for 8.9 percent of the total revenue, with $345.59 million reflecting an 8.6 percent increment from $318.22 million during the same month a year ago.

Other top markets for May 2006 were Hong Kong, $321.71 million; Netherlands, $267.90 million;  Malaysia, $228.87 million; Taiwan, $163.64 million; Republic of Korea, $140.35 million; and Thailand, $132.42 million.

Total export receipts from RP's top ten markets for the month of May amounted to $3.327 billion or 85.8 percent of the total.

Fig. 3  Philippine Top Exports by Country: May 2006
(F.O.B. Value in Million US Dollars)

Source:   Economic Indices and Indicators Division
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines