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

MAY 2009 MERCHANDISE EXPORTS PLUMMETED BY 27.0 PERCENT

Export earnings in May 2009 dropped by 27.0 percent to $3.087 billion from $4.225 billion registered in May 2008.  Compared to previous months level, however, it rose by 10.1 percent from $2.803 billion in April 2009.  Aggregate merchandise exports from January to May 2009, on the other hand, declined by 34.5 percent to $13.814 billion from $21.096 billion reported a year earlier during the same five-month period.

ELECTRONIC PRODUCTS DOWN BY 26.8 PERCENT

Accounting for 58.7 percent of the total export revenue in May 2009, Electronic Productsamounted to $1.811 billion. It was lower by 26.8 percent from $2.474 billion recorded in May 2008.  This can be attributed to the 29.6 percent decrease in the Components/Devices (Semiconductors) which comprised 42.7 percent of the total exports and the biggest share among the major groups of electronic products.   However, month-on-month, it climbed to 7.6 percent from $1.684 billion in April 2009.

Articles of Apparel and Clothing Accessories accounting for a 3.6 percent share of total exports continued to be the RPs second top earner in May 2009 with revenue valued at $110.31 million or a negative growth of 26.5 percent over last years figure of $150.16 million.   

Cathodes and Sections of Cathodes, of Refined Copper followed as the third top earner in May 2009 with total export earnings of $85.83 million or a share of 2.8 percent to the total export receipts.  It fell by 44.7 percent from $155.14 million in May 2008.

Ranked fourth in May 2009 and contributing 2.6 percent to the total export receipts wasWoodcrafts and Furniture with revenue amounting to $78.84 million. This value decreased by 16.4 percent from its year ago level of $94.27 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships(consisting only of electrical wiring harness for motor vehicles) with 1.9 percent share to the total export receipts ranked fifth with value posted at $57.11 million.

Rounding up the list of the top ten exports for the month of May 2009 were Other Products Manufactured from Materials Imported on Consignment Basis with export receipts amounting to $53.00 million and the only commodity group that exhibited a positive annual growth of 6.2 percent for May 2009; Coconut Oil (including crude and refined) with export earnings of $38.14 million contracted by 40.0 percent; Metal Components (excluding brakes and servo  brakes) with proceeds billed at $35.00 million or a decrease of 29.4 percent;Petroleum Products (including refined petroleum products, manufactured from crude petroleum oil imported on consignment basis) with sales amounting to $33.78 million and showed the highest year-on-year negative growth of 62.0 percent among the top exports losers in May 2009; and Tuna (including fresh, frozen, prepared or preserved in airtight containers) with export revenue of $30.70 million declined by  21.2 percent from its May 2008 level. 

Total receipts from the top ten exports reached $2.334 billion, or 75.6 percent of the total exports.

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

EXPORTS OF MANUFACTURED GOODS STOOD AT $2.636 BILLION

Accounting for 85.4 percent of the total receipts, outward shipments of Manufactured Goods in May 2009 reached $2.636 billion or a 24.8 percent decline from $3.507 billion recorded in the same period a year earlier. On the other hand, it expanded to 10.4 percent from $2.387 billion registered during the previous month.  

Income from All Agro-Based Products comprising 5.1 percent of the total exports revenue in May 2009 shrank by 28.7 percent to $156.55 million from $219.63 million in May 2008.

Earnings from Mineral Products with a share of 4.5 percent in May 2009 reached $137.39 million, reflecting a 49.6 percent drop from $272.76 million in May 2008. Similarly, export receipts from Special Transactions with a share of 3.9 percent went down by 9.1 percent to $119.95 million from $131.95 million in May 2008.

Accounting for a 1.1 percent share of the total exports revenue in May 2009 was Petroleum Products with receipts amounting to $33.78 million dropped by 62.0 percent from $88.89 million recorded in May 2008. Meanwhile, exports revenue of Forest Products with 0.1 percent share of the total, fell by 39.4 percent to $2.84 million from $4.68 million posted in May 2008.

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

EXPORTS TO JAPAN ACCOUNTED FOR 16.4 PERCENT

Japan including Okinawa, comprising 16.4 percent of the total exports for May 2009 emerged as the countrys top destination of exports for May 2009 with revenue amounting to $506.44 million. It was lower by 23.9 percent from $665.41 million recorded a year earlier.

United States of America (USA) including Alaska and Hawaii, followed as the second top market of the country for May 2009 with export earnings of $495.13 million or 16.0 percent share of the total exports. The amount declined by 26.7 percent from $675.58 million reported in May 2008.

Peoples Republic of China came in third with shipments amounting to $302.74 million and representing 9.8 percent of the total exports. The amount went down by 39.7 percent from its year ago level of $502.26 million.

Netherlands ranked fourth in May 2009 with $286.89 million or 9.3 percent of the total exports and the only partner country that showed positive growth of 3.1 percent from $278.29 million recorded in May 2008.

Fifth in rank and accounting for 8.5 percent share from the total exports was Hong Kong with revenue amounting to $261.78 million or a year-on-year decrease of 33.9 percent from $395.98 million.

Other top ten markets for May 2009 were Singapore, $215.03 million; Republic of Korea,$177.50 million; Germany, $156.59 million; Taiwan, $117.99 million; and Malaysia, $111.81 million.

Total export receipts from RPs top ten markets for the month of May 2009 amounted to $2.632 billion or 85.3 percent of the total.

Fig. 3  Philippine Top Exports by Country: May 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.

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