EXPORT RECEIPTS ROSE BY 23.1 PERCENT IN 10-MONTH PERIOD

Value of exports for the first ten months of 1997 grew by 23.1 percent to $20.687 billion, an increase of $3.878 billion from $16.809 billion recorded the previous year.

Dollar receipts from merchandise exports for October alone, grew by 23.4 percent to $2.324 billion from $1.884 billion last year. Monthly growth rate dropped by 0.6 percent from $2.337 billion.

ELECTRONICS AND COMPONENTS REMAINS RP'S TOP EXPORT

Electronics and Components was the country's consistent top dollar earner for October 1997, which posted a 39.1 percent growth to $1.086 billion from $780.59 million in 1996. This commodity group represented a 46.7 percent share of the total exports for October 1997.

Accounting for 7.2 percent of the aggregate export value was Articles of Apparel and Clothing Accessories which netted $167.35 million or down by almost 11.0 percent from $187.93 million the previous year. A drop by 23.7 percent from last month's $219.40 million was also noted.

Input/Output/Peripheral Units, representing 6.7 percent of the total leaped by 135.3 percent to $154.87 million from $65.82 million, or a hefty increase of $89.05 million.

Coconut Oil with receipts valued at $57.91 million or up by 19.3 percent from last year's $48.54 million remained in fourth place. This RP's top agricultural product shared 2.5 percent of the total.

Ignition Wiring Set & Other Wiring Sets Used in Vehicles, Aircrafts and Ships posted a month's total value of $48.19 million, or 0.6 percent higher than $47.89 million a year back.

The sixth top dollar earner was Other Products Manufactured from Materials Imported on Consignment Basis with export value amounting to $33.93 million, or down by 32.6 percent from 1996's $50.37 million.

Rounding up the list of top exports were: Woodcraft and Furniture, $33.33 million; Metal Components, $30.13 million; Gold, $28.34 million; and Bananas (Fresh), $20.80 million.

Total dollar earnings from the top ten exports amounted to $1,660.65 million or 71.5 percent of the total.

EXPORTS OF MANUFACTURED GOODS UP BY 24.9 PERCENT

Value of manufactured goods for October 1997, accounting for 85.6 percent of the total, jumped by 24.9 percent to $1,989.99 million from $1,593.81 million in 1996. Electronics and Machinery & Transport Equipment with combined value of $1,544.94 million were the leading commodities under this product group.

Aggregate value of Agro-Based Products and Other Agro-Based Products amounted to $170.41 million or up by 5.2 percent over last year's $162.04 million.

Other Major export commodity groups were: Special Transactions, $71.70 million; Mineral Products, $68.34 million; Petroleum Products, $18.68 million; and Forest Products, $4.86 million.

US SHARES 34.2 PERCENT OF RP'S TOTAL EXPORTS

Bulk of locally-made goods were shipped to the United States which accounted for 34.2 percent of the total export. Dollar income derived from these shippments amounted to $794.36 million or a 29.4 percent growth from $613.68 million.

Second biggest market for RP's goods was Japan with 17.0 percent share to the total receipts. Value of exports to Japan markets reached $395.89 million or a 15.7 percent increase from 1996's level of $342.18 million.

The Netherlands imports from the Philippines improved by 1.7 percent to $158.22 million from $155.57 million, also representing 6.8 percent of the total.

Singapore remained as the fourth biggest market for Philippine products garnering 6.3 percent share of the total export. A total of $146.17 million worth of goods were shipped to Singapore, or 27.4 percent increase from $114.71 million a year earlier.

Completing the list of RP's top ten markets for October were: Taiwan, $138.25 million; United Kingdom of Great Britain, $127.11 million; Germany, $104.77 million; Hongkong, $93.28 million; Thailand; $59.30 million; and Malaysia, $57.92 million.

Total receipts from these top ten markets amounted to $2,075.27 million or 89.3 percent of the total merchandise export.