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

May 2007 MERCHANDISE EXPORTS INCREASE BY 6.1 PERCENT

Export earnings in May 2007 went up by 6.1 percent to $4.122 billion from $3.885 billion in May 2006. Similarly, receipts from merchandise exports during January to May increase by 7.7 percent to $20.421 billion from $18.958 billion during the same five-month period in 2006.

ELECTRONIC PRODUCTS UP BY 11.8 PERCENT

Accounting for 62.1 percent of the aggregate export revenue in May, Electronic Products went up by 11.8 percent to $2.560 billion from $2.290 billion in May 2006.  Except for Electronic Data Processing, Consumer Electronics and Telecommunication, all electronic products recorded a year-on-year increase ranging from a low of 17.0 percent to a high of 582.1 percent.   Similarly, export receipts of the Electronic Products for January to May increased by 8.0 percent to $12.989 billion from $12.025 billion during the same five-month period in 2006. 

Articles of Apparel and Clothing Accessories continued to be the countrys second top earner with a combined share of 4.4 percent and an aggregate receipt of $182.32 million or 23.6 percent lower than $238.61 million in May 2006.

Cathodes and Sections of Cathodes of Refined Copper ranked third with total revenue of $133.52 million, posting a double-digit increase of 25.3 from $106.59 million in May 2006.

Woodcrafts and Furniture ranked fourth with sales amounting to $91.47 million or a growth of 8.8 percent from $84.10 million in May 2006.

Petroleum Products ranked fifth with export receipts of $85.97 million or a year-on-year growth of 42.0 percent from $60.56 million in May 2006.

Rounding up the list of the top exports for the month of May 2007 were Coconut Oil with an export value of $64.51 million, down by 1.22 percent; Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisted only of electrical wiring harness for motor vehicles), $56.92 million or a decline of 2.4 percent; Other Products Manufactured from Materials Imported on Consignment Basis, $53.82 million or a decrease of 8.7 percent; Metal Components with proceeds billed at $41.16 million or a growth of 65.4 percent; and Gold, with export revenue of $36.10 million or 75.9 percent growth from the same month in 2006.

Total receipts from the top ten exports reached $3.306 billion, or 80.2 percent of the total exports.

Fig. 1  Philippine Top Exports: May  2007 and 2006
(F.O.B. Value in Million US Dollars)
 

EXPORTS OF MANUFACTURED GOODS UP BY 5.8 PERCENT

Accounting for 83.7 percent of the total receipts, export of Manufactured Goods was $3.450 billion, or a 5.8 percent growth from $3.262 billion in May 2006.  

Earnings from Mineral Products reached $272.81 million or 6.6 percent share of the total export revenue, recording a growth of 49.9 percent from $182.05 million in May 2006.

Income from All Agro-Based Products increased by 9.2 percent to $211.13 million from $193.39 million, while receipts from exports of Special Transactions posted a negative growth of 46.3 percent to $100.03 million from $186.12 million in May 2006.

Petroleum Products, on the other hand, registered a growth of 42.0 percent to $85.97 million from $60.56 million in May 2006.  However, total export receipts for Petroleum Products during January to May 2007 still registered a decline of 7.3 percent to $330.33 million from $356.51 million during the same five-month period in 2006. 

Meanwhile, exports revenue of Forest Products went up by 90.0 percent to $2.06 million from $1.09 million in May 2006.  Inflows of receipts during January to May for Forest Productslikewise registered a growth of 98.9 percent to $15.83 million from $7.96 million during the same five-month period in 2006.

Fig. 2  Philippine Exports by Commodity Group: May  2007 and 2006
(F.O.B. Value in Million US Dollars)
  
 

EXPORTS TO UNITED STATES ACCOUNT FOR 15.9 PERCENT

United States of America (USA) remained to be the top market of the country for May with export receipts of $655.85 million, accounting for 15.9 percent of the countrys aggregate income for the month or a decline of 7.1 percent from $706.29 million in May 2006.

Japan followed with earnings of $544.25 million or a 13.2 percent share of the total exports for the month which resulted to a negative growth of 20.3 percent from $682.57 million in May 2006.

Hong Kong emerged as the third biggest market for the month with shipments amounting to $514.63 million or 12.5 percent of the total, up by 60.0 percent from its year-ago level of $321.67 million, accounted for the highest year-on-year growth among the top markets of the country.  This is due to the increase in the export receipts of semiconductors, gold and articles of apparel and clothing accessories.

Peoples Republic of China, with $462.08 million or 11.2 percent of the total revenue, reflected a 33.4 percent increase from $346.36 million in May 2006.

Other top markets for May 2006 were Netherlands, $326.44 million; Singapore, $261.19 million; Malaysia, $218.14 million; Taiwan, $194.64 million; Republic of Korea, $190.24 million; and Germany, $162.90 million.

Total export receipts from RPs top ten markets for the month of May 2007 amounted to $3.530 billion or 85.6 percent of the total.

Fig. 3  Philippine Exports by Top Markets : May  2007
(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.  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.

Source:    Foreign Trade Statistics Section
               Industry and Trade Statistics Department
               National Statistics Office
               Manila, Philippines