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

MERCHANDISE EXPORTS INCREASE BY 10.8 PERCENT

Export earnings in November 2006 continued to record a double-digit growth of 10.8 percent to $4.022 billion from $3.631 billion during the same month of the previous year.

 Receipts from merchandise exports during January to November rose to 15.8 percent to $43.348 billion from $37.428 billion during the same period a year earlier.

ELECTRONIC PRODUCTS UP BY 2.6 PERCENT

Electronic Products, accounting for 63.0 percent of the aggregate export revenue in November, recorded an increase of 2.6 percent to $2.534 billion from $2.470 billion a year ago.

Among the major groups of electronic products, Components/Devices (Semiconductors) having the bulk share of 46.5 percent to total exports, slightly grew by 0.8 percent to $1.872 billion from $1.856 billion during the same month in 2005. Other electronic products that showed increases are Electronic Data Processing at 13.9 percent with a share of 13.4 percent; and Automotive Electronics at 0.6 percent with a share of 0.8 percent.  Interestingly, Medical/Industrial Instrumentation; Control and Instrumentation, and Office Equipment commodity groups posted the highest year-on-year growth, although their shares to total exports are only 0.04 percent, 0.1 and 0.6 percent, respectively.

 Articles of Apparel and Clothing Accessories remained as the countrys second top earner with a combined share of 5.0 percent and an aggregate receipt of $200.02 million or 20.5 percent higher than $166.00 million a year ago.

Cathodes and Sections of Cathodes of Refined Copper, ranked third with total revenue of $157.63 million reflecting a 418.9 percent climb from $30.38 million during the same period of 2005. Except for January and March, this commodity group continued to sustain its triple-digit growth due to increasing demand for this commodity.

Woodcrafts and Furniture, ranked fourth with sales amounting to $77.20 million or an acceleration of 170.2 percent from $28.58 million.

Other Products Manufactured from Materials Imported on Consignment Basis, ranked fifth with export receipts of $76.95 million or a year-on-year growth of 46.4 percent from $52.55 million.

Rounding up the list of the top exports for the month of November 2006 were Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisted only of electrical wiring harness for motor vehicles), $67.00 million or an annual growth of 30.0 percent; Petroleum Products, with revenue recorded at $50.66 million or a decrease of 3.5 percent; Coconut Oil with an export valued at $49.00 million, posting a decline of 13.7 percent; Metal Components with proceeds billed at $41.82 million or a growth of 31.1 percent; and Bananas(Fresh) with export revenue of US$34.34 million or 20.5 percent decrease from the same period in 2005. 

Total receipts from the top ten exports reached $3.289 billion, or 81.8 percent of the total exports.

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

EXPORTS OF MANUFACTURED GOODS GREW BY 6.4 PERCENT

Accounting for 86.2 percent of the total receipts, export of Manufactured Goods was $3.465 billion or a 6.4 percent growth from $3.256 billion during the same period of 2005.  

Earnings from Mineral Products reached $253.08 million or 6.3 percent of the total export revenue. Aggregate receipt for this commodity group remained to record a triple-digit growth of 274.6 percent to $253.08 million from $67.56 million recorded a year earlier.

Income from All Agro-Based Products declined by 4.9 percent to $165.12 million from $173.57 million, while receipts from exports of the Special Transaction increased by 7.1 percent to $84.74 million from $79.10 million.

Petroleum Products, on the other hand, went down by 3.5 percent to $50.66 million from $52.52 million.  However, cumulative revenue of this commodity group for January to November remained to register a positive growth of 62.3 percent to $818.364 billion from $504.349 billion. Meanwhile, exports revenue of Forest Products inched-up by 33.4 percent to $2.98 million from $2.24 million recorded in 2005.

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

EXPORTS TO UNITED STATES ACCOUNT FOR 18.0 PERCENT

United States remained to be the major market of the country with export receipts of $725.18 million, accounting for 18.0 percent of the countrys aggregate income for the month. Receipts grew by 17.4 percent from last year's reported figure of $617.96 million.

Japan followed with earnings of $627.68 million or a 15.6 percent share of the total exports for the month which resulted to a decline of 1.0 percent from $634.16 million recorded in 2005.

Peoples Republic of China emerged as the third biggest market for the month with shipments amounting to $496.66 million or 12.4 percent of the total, an increment of 50.5 percent from a year ago level of $330.04 million.

Netherlands, with a $350.45 million or 8.7 percent of the total revenue, reflected an 11.8 percent decline from $397.37 million during the same month a year ago.

Other top markets for November 2006 were Hong Kong, $308.49 million; Singapore, $275.96 million; Malaysia, $240.19 million; Germany, $180.22 million; Taiwan, $165.53 million; and Republic of Korea, $120.35 million.

Total export receipts from RPs top ten markets for the month of November amounted to $3.491 billion or 86.8 percent of the total.

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

Technical Notes:

1. Analysis and Tables 1 to 3 in this Press Release are based on data using the 1993 Philippine Standard Commodity Classification (PSCC) groupings  (as amended in 1999).

2. Starting with the July 2006 series of Foreign Trade Statistics (FTS), additional tables (Tables 4 and 5) using the 2004 PSCC groupings are provided.

3.The adoption of the 2004 PSCC 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.

4. In view of the adoption of the new classification system, the NSO shall issue two sets of detailed tables: 7-digit following the 1993 PSCC (as amended in 1999) and 10-digit using the 2004 PSCC simultaneously, until the December 2006 FTS. However, beginning January 2007 FTS, only the 2004 PSCC groupings will be released by NSO.

5. Detailed tables at commodity levels are available upon request from the NSO-Industry and Trade Statistics Department, 10 days after the monthly press release.

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