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

NOVEMBER 2008 MERCHANDISE EXPORTS DROP  BY 11.9 PERCENT

Export earnings in November 2008 fell by 11.9 percent to $3.494 billion from $3.965 billion in November 2007.  The same was true with the previous month’s level, where a  12.0 percent decrease  was noted from $3.971 billion.

ELECTRONIC PRODUCTS DOWN BY 17.0 PERCENT

Accounting for 57.7 percent of the aggregate export revenue in November 2008, Electronic Products posted a decline of 17.0 percent to $2.017 billion from $2.429 billion in November 2007.  The same was true with the previous month’s level, where a decrease of 13.6 percent was observed from $2.335 billion recorded in October 2008.

Articles of Apparel and Clothing Accessories remained the country’s second top earner in November 2008 with a combined share of 3.8 percent and an aggregate receipt of $133.26 million or 15.8 percent lower than the $158.28 million in November 2007.   

Ignition Wiring Set and Other Wiring Sets Used in Vehicles, Aircrafts and Ships (consisted only of electrical wiring harness for motor vehicles) followed as the third top earner in November 2008 with total revenue of $108.05 million or a share of 3.1 percent, up by 48.4 percent from $72.79 million in November  2007.

Woodcrafts and Furniture, ranked fourth in November 2008 with sales amounting to $99.21 million or an increase of 14.0 percent from $87.00 million in November 2007.

Cathodes and Sections of Cathodes of Refined Copper, ranked fifth with export receipts of $78.35 million or an  annual decrease of 19.7 percent from $97.58 million in November 2007.

Rounding up the list of the top ten exports for the month of November 2008 were Other Products Manufactured from Materials Imported on Consignment Basis with receipts of $56.89 million which rose by 23.0 percent; Coconut Oil (including crude and refined) valued at $48.26 million, declined by 27.7 percent; Metal Components (excluding brakes and servo - brakes) with receipts of $44.68 million grew by 8.6 percent; Tuna (including fresh, frozen, prepared or preserved in airtight containers)  with proceeds billed at $40.23 million, increased significantly by 63.3 percent; and Bananas (fresh) with export revenue of $32.74 million decelerated by 15.9 percent from November 2007 level . 

Total receipts from the top ten exports reached $2.658 billion, or 76.1 percent of the total exports.

Fig. 1  Philippine Top Five Exports: November 2008 and 2007
(F.O.B. Value in Million US Dollars)
 

EXPORTS OF MANUFACTURED GOODS STANDS AT $3.033 BILLION

Accounting for 86.8 percent of the total receipts, export of Manufactured Goods in November 2008 worth $3.033 billion,  declined by 9.2 percent from $3.342 billion in November 2007.  

Exports of All Agro-Based Products in November 2008 amounting to  $187.71 million or 5.4 percent share of the total export revenue, decreased by 9.1 percent from $206.52 million in November 2007.

Earnings from Mineral Products in November 2008 which reached $128.35 million or 3.7 percent share of the total export revenue, fell by 39.7 percent from $212.86 million in November 2007.

Receipts from Petroleum Products in November 2008 totaled to $29.35 million or 0.8 percent share of the total export revenue, shrunk by 67.4 percent from $89.94 million in November 2007. However, exports revenue of Forest Products with 0.1 percent share of the total export revenue, grew by 188.1 percent to $4.24 million from $1.47 million recorded a year earlier.

Export receipts from Special Transactions with a share of 3.2 percent decreased by 0.6 percent to $111.08 million from $111.81 million in November 2007.

Fig. 2  Philippine Exports by Commodity Group: November 2008 and 2007
(F.O.B. Value in Million US Dollars)
 

EXPORTS TO UNITED STATES OF AMERICA ACCOUNT FOR 17.4 PERCENT

United States of America (USA) remained the top market of the country for November 2008 with export receipts of $608.70 million, accounting for 17.4 percent of the country’s aggregate income for the month, down by 18.8 percent from $749.76 million recorded a year earlier.

Japan followed as the second top market of the country for November 2008 with export earnings of $572.65 million or 16.4 percent share of the total exports, lower by 3.8 percent from $595.03 million in November 2007.

Hong Kong emerged as the third biggest market for November 2008 with shipments amounting to $477.79 million or 13.7 percent of the total exports, an increase  of 21.2 percent from a year ago level of $394.38 million.

People’s Republic of China ranked fourth in November 2008 with $318.66 million or 9.1 percent of the total exports, a decline of 27.3 percent from $438.46 million in November 2007.

Other top ten markets for November 2008 were Netherlands, $242.78 million; Germany, $181.65 million; Taiwan, $143.01 million;, Singapore, $134.33 million; Republic of Korea, $133.64 million; and Malaysia, $115.28 million.

Total export receipts from RP’s top ten markets for the month of November 2008 amounted to $2.928 billion or 83.8 percent of the total.

Fig. 3  Philippine Top Exports by Country: November 2008
        (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