MERCHANDISE EXPORT PERFORMANCE *
May 2010
( Preliminary )

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

MERCHANDISE EXPORTS FOR MAY 2010 UP BY 37.3 PERCENT

Export earnings in May 2010 amounted to $4.239 billion, registering a double-digit growth of 37.3 percent from it's year ago level of $3.088 billion.  Compared to previous month level it went up by 17.9 percent from $3.595 billion in March 2010. Aggregate merchandise exports from January to May  2010 also showed an increase of 38.7 percent to $19.164 billion from $13.818 billion posted during the same period in 2009.

ELECTRONIC PRODUCTS INCREASED BY 41.0 PERCENT

Accounting for 60.3 percent of the total export revenue in May 2010, Electronic Products was the country's top export with total earnings of $2.554 billion. It grew by 41.0 percent from $1.811 billion in May 2009.  Components/Devices (Semiconductors) which comprised 44.3 percent of the total exports and the biggest share among the major groups of electronic products amounted to $1.878 billion or an annual growth of 42.5 percent.   Month-on-month, Electronic Products also increased by 16.5 percent from $2.193 billion in April 2010.

Articles of Apparel and Clothing Accessories followed as the second top earner in May 2010 with total export earnings of $150.97 million or a share of 3.6 percent to the total export receipts.  It grew by 36.9 percent from $110.28 million recorded in May 2009.  

Coconut Oil (including crude and refined) which comprised 2.6 percent share of total exports in May 2010 emerged as RP's third top gainer with revenue valued at $110.13 million. This commodity group likewise exhibited the highest increase among the top ten exports with 188.8 percent from $38.14 million in May 2009.

Ranked fourth in May 2010 and contributing 2.2 percent to the total export receipts was Woodcrafts and Furniture with revenue amounting to $93.99 million. This value was up by 19.3 percent from its year ago level of $78.79 million.

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisting only of electrical wiring harness for motor vehicles) with 2.1 percent share to the total export receipts ranked fifth with value posted at $89.41 million or 56.6 percent increase from $57.11 million registered in May 2009.

Rounding up the list of the top ten exports for the month of May 2010 were Metal Components (excluding brakes and servo � brakes) with export earnings of $68.36 million, up by 97.5 percent; Other Products Manufactured from Materials Imported on Consignment Basis with export receipts of $55.53 million expanded by 4.8 percent; Cathodes & Sections of Cathodes of Refined Copper with export revenue of $48.58 million declined  by 43.4 percent; Tuna (including fresh, frozen, prepared or preserved in airtight containers) with proceeds billed at $29.21 million dropped by 4.8 percent; and Petroleum Products recorded sales amounting to $21.10 million decreased by 37.5 percent.

Total receipts from the top ten exports reached $3.222 billion, or 76.0 percent of the total exports.

Fig. 1  Philippine Top Five Exports: May 2010 and 2009
(F.O.B. Value in Million US Dollars)

EXPORTS OF MANUFACTURED GOODS STOOD AT $3.695 BILLION

Accounting for 87.2 percent of the total receipts, outward shipments of Manufactured Goods in May 2010 reached $3.695 billion or a 40.1 percent increase from $2.637 billion recorded in the same period a year earlier. Month-on-month, it grew by 18.8 percent from $3.109 billion recorded in April 2010.  

Income from Total Agro-Based Products comprising 5.7 percent of the total exports revenue in May 2010 went up by 56.7 percent to $242.07 million from $156.51 million in May 2009.  Compared to its previous month level, it was higher by 16.2 percent from $208.25 million posted in April 2010.

Earnings from Mineral Products with a share of 3.1 percent in May 2010 reached $130.99 million. It declined by 4.8 percent from $137.56 million in May 2009.  However, export receipts from Special Transactions reflecting 3.4 percent share expanded by 20.7 percent to $144.72 million from $119.92 million recorded in May 2009.

Exports revenue of Petroleum Products with 0.5 percent share of the total exports decelerated by 37.5 percent from $33.78 million to $21.10 million in May 2010. On the other hand, Forest Products with 0.1 percent share of the total exports climbed to 81.8 percent to $5.16 million registered in May 2010 from $2.84 million in May 2009.

Fig. 2  Philippine Exports by Commodity Group: May 2010 and 2009
(F.O.B. Value in Million US Dollars)

EXPORTS TO UNITED STATES ACCOUNTED FOR 16.2 PERCENT

United States of America (USA) including Alaska and Hawaii comprising 16.2 percent of the total exports for May 2010 emerged as the country's top destination of exports for May 2010 with revenue amounting to $687.55 million. It was higher by 38.9 percent from $494.93 million recorded a year ago.

Japan including Okinawa followed as the second top market of the country for May 2010 with export earnings of $616.93 million or 14.6 percent share of the total exports. The amount increased by 21.8 percent from $506.46 million reported a year earlier.

Singapore representing a 10.4 percent of the total exports came in third with shipments amounting to $442.36 million. Compared to its May 2009 level, the amount expanded by 105.7 percent from $215.01 million.

People's Republic of China ranked fourth in May 2010 with $389.14 million or 9.2 percent share of the total exports, advanced by 28.6 percent from it's May 2009 level of $302.73 million.

Fifth in rank and accounting for 8.5 percent share of the total exports was Hong Kong with export earnings worth $360.64 million or an increase of 37.8 percent from $261.78 million posted in May  2009.

Other top ten markets for May 2010 were Netherlands, $274.97 million; Germany, $274.30 million; Republic of Korea, $248.20 million; Thailand, $147.69 million; and  Taiwan, $135.87 million.

Total export receipts from RP's top ten markets for the month of May  2010 amounted to $3.578 billion or 84.4 percent of the total.

Fig. 3  Philippine Top Exports by Country: May 2010

 (F.O.B. Value in Million US Dollars)

EXPORTS FROM EASTERN ASIA WORTH $1.754 BILLION

Philippines total exports in May 2010 to Eastern Asia (China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea and Taiwan) accounted for 41.4 percent of the county's total exports. It amounted to $1.754 billion or an increase of 28.0 percent from it's May 2009 level of $1.369 billion.

Exports to ASEAN member-countries representing 19.3 percent share of the total exports in May 2010 worth $818.26 million, an annual positive growth of 72.0 percent from $475.75 million recorded in May 2009.

May 2010 total exports to European Union (EU) with a 17.7 percent contribution to total exports were valued at $750.83 million.  It expanded by 34.5 percent from $558.24 million registered in May 2009.

Fig. 4  Philippine Exports by Selected Economic Bloc: May 2010 & 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